Owner: WCI Partners
Location: Harrisburg, PA
Business: Real Estate Development
Purpose of Loan: Property Redevelopment
Impact: Affordable Housing / Economic Security
WCI Partners in Harrisburg redevelops old, dilapidated buildings into vibrant commercial and residential hubs. In 2015, WCI Partners found a string of vacant, blighted properties in the 900 block of North Third Street, close to the Capitol and, at one time, a thriving section of the city.
With a New Markets Tax Credit allocation from Community First Fund, WCI Partners redeveloped four buildings totaling 40,000 square feet and created 41 apartment units – 8 of which are affordable-rate – and commercial space for three business tenants. One of these tenants is st@rtup, a small business incubator and the first open co-working space in Harrisburg. With 6,500 square feet of flexible space, st@rtup can accommodate 90 members and offers a variety of convenient amenities.
This transformation has created a strong connection between the downtown and Midtown areas of the city, and like other WCI Partners projects, stands to have significant economic and social impact far beyond the neighborhood.