BETHLEHEM, Pa. — Bethlehem’s first large-scale affordable housing rental project in more than a decade is set to break ground next year after receiving highly competitive state tax credits.
The 60 units in the first phase of Gateway on Fourth are part of $66.5 million in low-income housing tax credits awarded Thursday by the Pennsylvania Housing Finance Agency (PHFA). The credits will help fund construction or rehabilitation of about 1,900 affordable units across the state.
The new development at 1400–1414 E. Fourth St. is a 120-unit mixed-income project planned for South Bethlehem. It’s being developed through a partnership among the city, Lehigh Valley Industrial Park (LVIP), and Pennrose, a national affordable housing developer. More than two-thirds of the apartments will be affordable to households earning at or below 60% of the area median income — $60,120 or less annually for a family of four in the Lehigh Valley…