HACP and KBK Awarded Tax Credits for Garfield Redevelopment
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HACP and KBK Awarded Tax Credits for Garfield Redevelopment

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Pittsburgh, Sept. 14 2007 — A crowd of nearly 100 Garfield residents and community stakeholders gathered at St. Lawrence O’Toole Church yesterday to meet with the Housing Authority of the City of Pittsburgh (HACP) and its development partner KBK Enterprises, LLC, to view the design for the first phase of a massive community re-development effort in Garfield set to commence later this fall.

During the meeting, HACP Chief Executive Officer A. Fulton Meachem Jr. broke the news that tax credits, in excess of $10 million, will be provided to help finance the redevelopment of Garfield Heights. The Pennsylvania Housing Finance Agency will disseminate the funds in increments of $1.1 million over the next 10 years. According to Mr. Meachem, the tax credit award is “not a victory for the Housing Authority or for KBK Enterprises. This is a victory for the residents of Garfield and a victory for everyone who wants to see a revitalized Garfield.” The redevelopment of Garfield Heights was awarded to KBK Enterprises during the spring of 2006.

Yesterday evening, during a second in a series of community meetings, Garfield residents were once again provided an opportunity to view the most up to date design, to pose questions and most importantly provide input on the redevelopment process. The current design transforms the once isolated public housing site into a vibrant urban redevelopment, full of green space and seamlessly connected to the greater Garfield community.

Phase I of the redevelopment effort, set to begin this fall, will include the construction of 90 new rental homes incorporating a mixture of affordable and market rate units. These units will include a mix of 2 to 5 bedroom units, as well as 10 units designated for persons with disabilities. Construction for the first phase of redevelopment is tentatively scheduled to wrap up in late 2009.

Keith B. Key, President and CEO KBK Enterprises, and former Garfield resident, said, “We are truly thankful to receive this recent award from PHFA, and look forward to rejuvenating this historic Pittsburgh community.”

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