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At a March 18 event at historic City Hall in Philadelphia, U.S. Sen. Robert P. Casey Jr. (D-PA) and Mayor Michael A. Nutter announced the awarding of $5.3 million in affordable housing grants for the construction or rehabilitation of 645 units of much-needed affordable housing across the city.

"We have a significant shortage of affordable housing in Philadelphia, 60,000 units by some estimates. So these 600-plus units coming on line through all of these groups and organizations starts to attack that particular issue in a direct fashion,” Mayor Nutter said.

The $5.3 million in grants come from FHLBank Pittsburgh’s Affordable Housing Program, which has put forth more than $34 million in such grants inside the City of Philadelphia since the program’s inception in 1990.

“For years, the Affordable Housing Program has created affordable housing solutions for low-income individuals and families,” said Sen. Casey. “These grants will ensure that more Philadelphians in need will have the opportunity to reside in reliable housing that is within their budget.”

The funded projects are being pursued by 13 local sponsors working in different parts of the city and will assist a wide variety of clients including the homeless, the elderly, other very-low and low-income individuals and those with mental and physical disabilities.

Also attending the announcement were Brian A. Hudson, executive director of the Pennsylvania Housing Finance Agency, and an FHLBank director; John R. Price, president and chief executive officer of FHLBank; and representatives of five local banks that worked with the assembled nonprofits to apply for and deliver the housing grants: Beneficial Savings Bank, Citizens Bank of Pennsylvania, Firstrust Bank, PNC Bank and Sovereign Bank.