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ORINOKA APTS STILL LEASING

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Rents range from $564 to $802 depending on income

After a deluge of applicants in March, Orinoka Civic House still has apartments available for more than a dozen families.

NKCDC's $17.8 million mixed-income development in Kensington opened its doors in July, and many apartments are already occupied.

Accessible laundry & apartment

"We received an overwhelming number of applicants at 20 percent Area Median Income," said said Barb Varela, Managing Director of Real Estate and Finance at NKCDC. "Those apartments are full. But we don't have enough applicants to fill the apartments listed for 50 and 60 percent of AMI."

Tax credit buildings like Orinoka give private development dollars and non-profit entities the ability to offer the same amenities to all families that apply, regardless of income. But to make a project financially sustainable, developers need to offer apartments at different rents for different income levels.

NKCDC is now seeking tenants who earn 50 to 60 percent of the area's median income. A one-bedroom apartment that rents for $564 a month, for instance, requires an annual income of at least $16,920. A two-bedroom apartment that rents for $622 requires an income of at least $18,660 annually.

"The apartments are modern classic with large windows, large kitchens with stainless steel appliances, wide counter tops and beautiful cabinets," said property manager Marilyn Cruz. "Bedrooms have exposed brick and good storage. There's secure, on-site laundry."

"The apartments are amazing," Varela agreed. "The rooms have a million-dollar view. You can see the bridges on the Delaware River."

Applications are available online at orinokacivichouse.com/apartments and at Coral Street Arts House, 2446 Coral Street, Philadelphia, PA 19125.

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New Kensington Community Development Corporation
2515 Frankford Avenue, Philadelphia, PA 19125
P: (215) 427-0350  |  F: (215) 427-1302  |  info@nkcdc.org
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