Conestoga North Townhomes
The vision and purpose of Conestoga North is to invest in building community wealth from the ground up.
Broken into two phases, Conestoga North is revitalizing a critical part of the city located at Chesapeake Street near South Duke Street in the southeast section of Lancaster city. The homes are to be owner-occupied, with purchase subject to income guidelines: Families must make 80% or less of median area income. For a family of four, the threshold is $66,400, according to the U.S. Housing and Urban Development.
With assistance from Community First Fund, SACA Development acquired the site on Chesapeake Street in 2017 for $320,000. This $3.1 million project was funded by a mix of public and private partnerships including grants from DCED, the Pennsylvania Housing Finance Agency, federal Department of Housing and Urban Development Home funding through Lancaster city, Lift loan from Tenfold (Formerly LHOP and Tabor), financing from CFF, and conventional financing from LinkBank.
The nine homes in the first phase of the project were completed in October 2021 and sold for $165,000 to $170,000. They were built for a total of $3.5 million and paid for with government grants and financing through organizations like Tenfold and Community First Fund, and from Camp Hill-based Linkbank.
The roughly $3.7 million second phase of the townhome project will create another nine units available for purchase. Plans are in place to begin construction on Phase II in late spring 2022. Homes will be priced at approximately $170,000, and $175,000 for end units.