Seated alongside the Monongahela River in West Virginia, Morgantown boasts a rich historic atmosphere and a scenic landscape. Morgantown has been steadily growing and is expected to see a 29% rise in those age 65 and up over the next 15 years, according to the U.S. Census. Most of these individuals have grown up in the area and plan to stay, creating a need for affordable housing for aging adults. Seneca Village is a 36-unit new construction development for seniors earning 60% or below the Area Median Income. The community is conveniently located in downtown Morgantown, and is adjacent to an indoor shopping center. “Most residents are from the Morgantown area and love the fact that they are close to family and friends as well as centrally located in the downtown Morgantown area,” says the Seneca Village property manager.
New Construction: 36 Units
Private Equity Investment: $5,763,252
Local Jobs Supported: 39
Local Government Revenue: $611,860
TSeneca Village is designed with seniors in mind with twenty one-bedroom units and sixteen two-bedroom units. Each unit contains a washer and dryer, ceiling fans, and cost- efficient appliances. The two-bedroom apartments also offer a “bike closet” which can be used for extra storage. The property also features a community room that residents frequently utilize for hosting social events with each other. The developer of this project is Pison Development, LLC with Pison Management, Inc. serving as the property manager. Pison manages 18 LIHTC properties with approximately 650 units under their management. Seneca Village was designed specifically for the senior population of Morgantown, offering great amenities and the perfect location for their everyday needs. This development will be around to offer safe and affordable housing to seniors for many years to come.