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CHESTER, PA., DEDICATES OLD BLOCK WITH 'NEW LOOK'

 PHILADELPHIA, Sept. 22 /PRNewswire/ -- Twenty-one newly renovated row houses on the 1000 block of W. Fifth Street in Chester, Pa., will be dedicated at ceremonies at the site on Friday, Sept. 24, at 11 a.m.
 Chester Mayor Barbara Bohannan-Sheppard, Delaware County Council Chairman Mary Ann Arty, and other local and state officials will join board members of Better Housing for Chester, Inc. and representatives of other sponsoring organizations in officially restoring the block to its eligible residents.
 "Chester Renaissance/Fifth Street Apartments" as the new development is known, is a joint venture with Better Housing for Chester, Inc.; Darant Partners, a minority-owned community-based developer, and Pennrose Properties, Inc., a Philadelphia-based developer of quality affordable housing. Pennrose has a track record of working effectively in partnership with neighborhood-based, non-profit organizations in the development and management of quality affordable housing.
 Better Housing for Chester, Inc. is a non-profit housing organization "designed to offer safe, decent and affordable housing in Chester for people of low and moderate income," explained Sister Marion Field, the executive director. The housing group, one of the development's sponsors, brought Pennrose into the community.
 "When we saw what Pennrose has done in other areas in and around Philadelphia, we were very impressed," said Field. "We are delighted to see this first development finished, and we are very happy with the quality of work put into Fifth Street. The long-term management of the properties by Pennrose Management Company will provide stability in the neighborhood and will assure the tenants the help they will need to keep these residences in good condition."
 "The pooling of private and public resources to rebuild neighborhoods and stabilize communities in many sections of Pennsylvania is a hallmark of Pennrose Properties," noted Arty. "The efforts of Pennrose Properties and Better Housing for Chester to develop a Renaissance in Chester rekindles the hopes of families with limited resources who seek affordable and decent housing."
 Said Bohannan-Sheppard, "I salute the cooperative effort of Better Housing for Chester, Inc., Pennrose Properties, Delaware County Council members, and the Commonwealth of Pennsylvania for working with the City of Chester to provide more decent and affordable housing for the residents of the city. I am especially pleased that Pennrose Properties hired a number of Chester residents and deserving minority contractors to complete this project."
 Built in the 1920s, the houses on the block were acquired by Pennrose Properties in the fall of 1992. Construction and repair work over the past several months has included replacement of electrical, plumbing and heating systems, installation of new baths and kitchens, and roof replacements. Space for parking of cars has been created in the rear of the dwellings.
 Pennrose partner Robert C. Totaro said, "This is the first time that we have acquired an entire block of contiguous buildings, and this has given us an unusual opportunity to make a significant impact in a neighborhood."
 Pennrose Properties has recently acquired a two-story building across the street from the Fifth Street Apartments and will renovate the former restaurant into management and maintenance offices, as well as a small community room for residents and the surrounding neighborhood. The new facility will be ready for next spring.
 Funding for the development came from the Pennsylvania Housing Finance Agency, Delaware County, Better Homes for Chester, Inc., and private investors represented by the Related Company of New York.
 Architectural services were provided by Kitchen & Associates Architectural Services and Schwam Architects, Philadelphia. Delran Builders, Wyndmoor, Pa., was the general contractor.
 /delval/
 -0- 9/22/93
 /CONTACT: Bob Totaro of Pennrose Properties, 215-564-4491/


CO: Pennrose Properties, Inc. ST: Pennsylvania IN: CST SU:

JM-LJ -- PH019 -- 4774 09/22/93 14:32 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
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