55-unit community on historic church site delivers quality, affordable homes and on-site services for seniors 62 and older

Pennrose, Presbytery of Philadelphia, Wynnefield Overbrook Revitalization Corporation (WORC), and project partners today celebrated the grand opening of Good Shepherd, a 55-unit, 100% affordable senior housing community at 6441 Lansdowne Avenue in Philadelphia's Overbrook neighborhood. The brand-new community, which is now leasing, delivers high-quality, affordable homes for adults aged 62 and older, breathing new life into the historic site of the former Good Shepherd Presbyterian Church.

Speakers at the grand opening celebration included: Lindsey Samsi, Regional Vice President, Pennrose, LLC; Reverend Ruth Faith Santana-Grace, Executive Presbyter, Presbytery of Philadelphia; Reverend Dr. Eustacia Moffett Marshall, Senior Pastor, New River Presbyterian Church; Gerald Murphy, Executive Director, Wynnefield-Overbrook Revitalization Corporation; Senator Vincent Hughes, District 7, Pennsylvania State Senate; Councilmember Curtis Jones, District 4, City Council of Philadelphia; Anjelica Sanders on behalf of Representative Morgan Cephas, District 192, Pennsylvania House of Representatives; Robin Wiessmann, Executive Director & CEO, Pennsylvania Housing Finance Agency (PHFA); Clarance Burleigh, Director, Bank of New York Mellon; Chris Tully, Managing Director, RBC Capital Markets; Matthew Di Santo, Developer, Pennrose, LLC; and Charlie Adams, President of Development, Pennrose, LLC.

Good Shepherd offers 55 one-bedroom apartment homes averaging 605 square feet, available to households earning at or below 20%, 50%, and 60% of the Area Median Income (AMI), about $430 to $1,290 for a one-person household. The brand-new apartments feature modern finishes, high-quality fixtures, and are fully accessible and adaptable.

Residents have access to a full array of on-site amenities, including a fitness room, multi-purpose community room, outdoor patio with seating, on-site parking, and flex space. The four-story, 53,000 square foot building is designed to meet Enterprise Green Communities and Zero Energy Ready Home standards.

"When the original church was lost, neighbors and community leaders came together with a shared vision to honor that legacy and address a real and urgent need for affordable senior housing in Overbrook. Today, that vision is a reality," said Lindsey Samsi, regional vice president of Pennrose. "We are proud to welcome residents home and to be part of this neighborhood's continued growth."

Following a fire and the destruction of the Good Shepherd Presbyterian Church in 2016, church leaders selected Pennrose to transform the site and help address the area's shortage of quality, affordable housing. In Philadelphia, more than 59,000 households remain on the waiting list for affordable housing, and in Overbrook alone, 62% of renters are rent-burdened, meaning more than 30% of their income is spent on rent.

An important component of the development is the delivery of on-site supportive services to help seniors age in place. Pennrose Management Company (PMC) will work with local community partners, including WORC and the Neighbors of Overbrook Association, to identify resident needs and provide tailored resources and services, including social, health, and educational programming. Good Shepherd Presbyterian Church, now part of New River Presbyterian Church, will also serve as an on-site community partner, providing social services and support to residents.

The Good Shepherd project included a layered capital stack that combined permanent debt, public subsidy, and tax credit equity. Permanent debt came from a PHFA Permanent Mortgage, while public subsidy sources included Philadelphia DHCD HOME funds, PHARE HTF, RACP, and Board of City Trust funding. Equity was provided through LIHTC Equity and State Tax Credit Equity.

Pennrose is committed to delivering high-quality, transformative affordable housing across Philadelphia and the Northeast region. Pennrose worked with the Philadelphia Housing Authority on phase III of the Sharswood Transformation Plan, which delivers new mixed-income rental homes, affordable and market-rate homeownership units, and more than 200,000 square feet of mixed-use development once complete.