Borough Buys Addison Court to Keep Senior Housing

State College Borough is acquiring the downtown senior living building for nearly $15.8 million after a proposal to demolish it for student housing drew strong opposition.

Updated on Nov. 4, 2026 in Apartments

Brick mid-rise residential building on a quiet downtown street, with wooded ridgelines faintly visible beyond the rooftops under overcast daylight. — State College Borough agreed to buy the downtown Addison Court senior living building for nearly $15.8 million after a developer's proposal to demolish it for student housing drew strong opposition. AI Illustration. Upload story photo >

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State College Borough agreed to buy Addison Court, a downtown senior living building, for nearly $15.8 million. The borough will lease the building back to developer PrimeCore LLC under the sale agreement.

Why it matters

A developer's proposal to tear down Addison Court for student housing drew an uproar from long-time residents, prompting the borough to step in and purchase the property. The deal could affect the availability of senior housing in State College and the borough's finances.

The purchase price is nearly $15.8 million, and the borough is seeking a $100,000 state low-income housing tax credit application with Ferguson Township's help. The borough has not yet secured the tax credits, and it remains unclear how the purchase will be financed.

The players

State College Borough

State College Borough is a municipality in Centre County, Pennsylvania, and home to Penn State University.

PrimeCore LLC

PrimeCore LLC is the developer that will lease Addison Court back from the borough and carry out its redevelopment and rehabilitation.

Ferguson Township

Ferguson Township is a neighboring municipality in Centre County that the borough asked to help cover the tax credit application cost.

The details

Under the sale agreement, the borough will lease Addison Court back to PrimeCore LLC, and part of the purchase cost will go to PrimeCore to pay for redevelopment and rehabilitation of the building. Borough Manager Tom Fountaine asked Ferguson Township supervisors to contribute toward the $100,000 tax credit application.

2026: State College Borough decided to buy Addison Court.
September 2026: Borough manager addressed tax increase concerns at a council meeting.
2027: Possible borrowing for the Addison Court purchase could occur.
2028: A possible tax increase for debt service could take effect.
Within five years: The borough would reassess the building's use if tax credits are not secured.

Market Context

The borough is pursuing the state low-income housing tax credit program, which offers financing for affordable housing projects, to help preserve Addison Court as senior housing. Its success depends on whether the state approves the application it is preparing.

Addison Court residents could keep senior housing in the downtown area if the borough's purchase and redevelopment plans proceed. If the tax credits are not secured, a possible tax increase for debt service could affect State College property owners.

The takeaway

Local housing decisions can shift quickly when a single redevelopment proposal affects long-time residents. Residents who want to follow the Addison Court plan should watch for borough council updates on financing and tax credits.