Applications now being accepted for Montgomery Park “elderly” community

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Montgomery Park Senior Housing Phase I is for those 62 and older in low and moderate-income households. (Photo courtesy of Elon Development Company, Inc.)

Altman Management Company is pleased to announce that applications are now being accepted for the brand-new Elderly (62 and older) Community in Norristown which will be opening in the Early Summer of 2018. The community will have 50 1-bedroom apartments and many amenities such as on-site parking, community room, laundry, energy efficient appliances and much more.

Located at 1301 Powell Street in Norristown, Montgomery Park Senior Housing Phase I is for those 62 and older in low and moderate-income households. Scheduled to open in Spring 2018, the new housing will have 50 one-bedroom apartments. It is accessible via public transportation and is also near several retail centers, emergency services, a post office, the Nicolas and Athena Karabots Medical Building across the street from the new housing, and Einstein Medical Center
Montgomery.

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“Montgomery Park Senior Housing is leveraging local and county support to attract significant federal investment in the form of Low Income Housing Tax Credits (LIHTC) to raise over $12.3 million of equity towards the total development cost of $14.7 million,” says Brett Altman, a Principal of the Altman Group of Companies. “This public/private partnership will create housing and job opportunities for local Norristown residents and redevelop an otherwise underutilized site in a neighborhood that is poised for positive growth. We at Elon and the Altman Group are proud to be part of this process,” adds Altman.

“We are delighted that this project to develop affordable senior housing in Norristown is now underway,” says Beth Duffy, Chief Operating Officer for Einstein Medical Center Montgomery. “Einstein remains committed to offering high-quality, easily accessible healthcare services to this community and will continue to provide primary care, physical medicine and rehabilitation and other services in the Nicholas and Athena Karabots Medical Building which is across the street from the new development.”

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