Renovations are more than 80% complete on Ascension Manor, an affordable housing community for seniors and the disabled in North Philadelphia, Pa. The Ukrainian Catholic Archdiocese of Philadelphia owns the community and recently hosted an open house where neighbors, local businesses, community leaders, and church members could see the progress on the facility.
The Archdiocese is making $11 million in changes to its two high-rises, built in 1967 and 1977, which serve nearly 300 seniors and individuals with disabilities. Ascension Manor was originally established so that elderly residents in the Ukrainian neighborhood could remain close to family, friends, and church; today, its inhabitants come from a variety of cultural and ethnic backgrounds, and soon they’ll all have access to updated amenities.
“We’ve added more common open space, furnished in such a manner that it would encourage residents to gather and socialize with one another,” said Archbishop Stefan Soroka of the Ukrainian Catholic Archeparchy of Philadelphia. “The new computer lab, craft and exercise rooms, and a meditation room all are aimed at residents enjoying and sharing activities with one another.”
The Archdiocese’s development partner, The Michaels Organization, says refinancing for the renovations was obtained through working with Continental Mortgage Corp; two previous Section 202 direct loans from the Department of Housing and Urban Development (HUD) are now refinanced with a new loan insured under HUD’s 221(d)(4) Substantial Rehabilitation Program.
“We are proud to be able to help the Archdiocese revitalize this property, which is such an important landmark in North Philadelphia,” said William Gorodetzer, president of Continental Mortgage Corp, which along with The Michaels Organization is part of a family of companies focused on affordable housing. “At a time when the need for affordable housing has never been greater, but finding desirable affordable housing is so difficult, especially for seniors, preserving the affordability of Ascension Manor while ensuring that the improvements provide a modern comfortable environment that enhances their quality of life is wonderful for the residents. It also provides peace of mind for their family members and makes Ascension Manor a significant asset for its neighborhood and the city.”
Written by Alyssa Gerace
