A former industrial building in downtown Reading will soon be transformed into affordable housing for older adults, thanks to a $17 million award in Low-Income Housing Tax Credit (LIHTC) funding.
HDC MidAtlantic and Landis Quality Living announced the project, named Cornerstone at 6th & Chestnut, which will create 46 affordable apartments for residents aged 62 and older. The redevelopment will include amenities such as a community room with a kitchen, on-site management, and maintenance services, designed to help seniors age in place with dignity and community support.
The initiative builds on the organizations’ decade-long partnership, which began with the success of Mountain View Terrace near New Holland. “These dollars will support more than bricks and sticks – they will support livelihoods and brighter futures for our neighbors,” said Dana Hanchin, President and CEO of HDC MidAtlantic. She noted that in 2024, HDC received a $1 million Local Share Account award from the Pennsylvania Department of Community and Economic Development, as well as $1.5 million in City HOME funding and a $500,000 Santander grant.
Hanchin credited Funk Construction as “an instrumental partner in the development,” highlighting the collaboration that made the project possible.
Evon Bergey, Executive Director of Landis Quality Living, emphasized the milestone the funding represents. “We’re excited to continue our partnership with HDC MidAtlantic to expand housing options that support aging with dignity,” she said. “We are excited to continue creating communities where older adults of all income levels can thrive—physically, emotionally, and spiritually.” Bergey also stressed the need for continued federal support of LIHTC, calling it vital to addressing the housing crisis locally and nationally.
Ed Kaminski, Director of Real Estate Development for Landis Communities, added that the award through the Pennsylvania Housing Finance Agency makes the project possible. “The LIHTC funding… makes it possible to create a new residential community designed to meet the evolving needs of older adults in Reading,” Kaminski said.
The $20 million project will convert a blighted industrial property into 46 apartments—39 one-bedroom and 7 two-bedroom units. All apartments will be affordable to households earning up to 60% of the area median income. Five apartments will be fully ADA-accessible, while all will be ADA-adaptable. The property will also include 52 on-site parking spaces.
Financial closing and construction are expected to begin in October 2026, with the first residents anticipated to move in by January 2028.
