University Square, a 442-unit, 19-story building for federal rent subsidy tenants, was dedicated recently in Philadelphia.
The $17-million complex, with commercial space and health and recreation facilities, was built by Philadelphia architect-developer Samuel I. Oshiver, who was a partner with the National Housing Partnership. Based in Washington, the NHP stimulates low-moderate income housing through partnerships with local builders, developers and community organizations.
Located in a mid-storm Philadelphia area near the University of Pennsylavania, University Square has closed circuit televion surveillance and pull cords in every apartment to permit sounding of an alarm at a central security station.
Under the federal Section 8 rental subsidy program, tenants usually will pay up to 25 per cent of their income for rent and the difference between that the amount needed to support a dwelling unit will be a federal subsidy. University Square one-bed-room dwellings will be available to handicapped, disabled or persons 62 or over whose incomes do not exceed $9,800. The maximum for two persons is $11,200.
Construction financing was provided by the Pennsylvnia Housing Finance Agency, with the permanent financing arranged by Colonial Mortgage Service Co. in Philadelphia. The Daniel J. Keating Co. of Philadelphia was the general contractor.