Tax Credits Fund $17 Million Investment in Affordable Housing

The construction of Cornerstone at 6th & Chestnut is moving forward in downtown Reading, supported by $17 million in LIHTC credits and strong local backing. In partnership with Landis Quality Living, HDC MidAtlantic will convert a long-vacant building into an affordable housing community of 46 one-and two-bedroom apartments specifically for seniors aged 62 and older. The project is designed for individuals earning between 30% and 60% of the area median income, aiming to address the overwhelming need for affordable senior housing in Reading. Beyond the physical structure, the community will provide dedicated services, including a resident services coordinator and a Landis care navigator, to ensure older adults can “age in place with dignity.” This development is backed by more than 11 funding sources, with strong support from the City of Reading, which provided over $2.5 million in combined HOME and LSA funds.