HARRISBURG, PA-Pennsylvania Housing Finance Agency has committed loans and tax credits aggregating nearly $7 million for four multifamily rental developments in three cities. The commitment covers a total of 266 units. When completed, the value of the properties will total slightly more than $43.4 million.

Two of the projects are in Philadelphia. Phase II of Sharswood Townhouses on a scattered site within a few blocks of Ridge Avenue in North Philadelphia obtained nearly $2.3 million from PHFA. It will consist of 12 two- and three-story buildings containing an aggregate of 59 units and have a value of about $15.4 million when complete. Cloisters III, a 50-unit development on Haverford Avenue and 38th Street in the Mantua section of West Philadelphia, received nearly $2.6 million. It will contain 50 units and have a value of approximately $11 million when complete.

Phase II of Riverview Towers Apartments, a nine-story, 136-unit building at 52 Garetta Street in the Squirrel Hill section of Pittsburgh, obtained $3.1 million for renovation. On completion, its value is estimated at nearly $14 million.

Tenny Street Apartments, a 21-unit new development on a two-acre site in a mixed commercial/residential Downtown section of Bloomsburg, obtained slightly more than $1.6 million from PHFA. Its rental units are for persons age 62 or older, and the value of the completed property will total approximately $3 million.