PITTSBURGH, PA (February 7, 2017) – (RealEstateRama) — The board of the Urban Redevelopment Authority of Pittsburgh, in partnership with Mayor William Peduto’s administration, is set to vote Thursday on several efforts to provide more affordable housing around the City.
The board is set to vote on five agenda items regarding housing in Morningside, Downtown, Larimer, East Liberty and the North Side, which will support hundreds of affordable housing units across the city and a neighborhood park proximate to an affordable housing development site.
“The need for affordable housing is one of the biggest issues facing not only Pittsburgh but cities across the world. I’m happy to be working with the URA and stakeholders across our city to provide more such housing, and adopt policies to ensure more affordable housing initiatives in the future,” Mayor Peduto said.
On Thursday the URA board is set to convey the former Morningside School on Jancey Street to developers to build a 46-unit mixed income apartment building for seniors with 39 affordable units restricted to those earning 20%, 50% and 60% of area medium income (AMI).
Ten units will be in the renovated schoolhouse and 39 in a new addition that will also house the Morningside Senior Center.
In Downtown, the URA is set to approve additional financing for Wood Street Commons on Third Avenue, which provides 258 affordable Single Room Occupancy (SRO) units for low-income adults, including 32 emergency shelter units and 15 bridge housing units for the mentally ill. The site also includes space for job training services and non-profit groups.
Some $310,000 in repairs is needed to the building, so the URA board is set to vote on a $180,000 grant in support of the needed improvements, to be combined with $125,000 in recently approved financing from the Housing Authority of the City of Pittsburgh.
As part of the Larimer/East Liberty Choice Neighborhoods plan, the URA board is set Thursday to vote on a $3.27 million financing plan to provide a portion of the financing for demolition and site preparation work at the former East Liberty Gardens property, making way for the construction of 150 Phase 2 mixed-income housing units. A ground lease between the Housing Authority and the developers will require long-term housing affordability terms for future tenants.
Also in East Liberty, the URA is set to apply to the Redevelopment Authority of Allegheny County for $250,000 and $500,000 grants for the construction of a new park at Larimer Avenue and Station Street as part of the Larimer/East Liberty Choice Neighborhoods. The three-acre park site is adjacent to the recently completed Phase I 85-unit mixed income development, as well as the Phase 2 site mentioned above.
Finally, in the North Side neighborhoods of California Kirkbride and the Central Northside, the URA board is set to authorize its intent to issue up to $15 million in tax-exempt debt to support the redevelopment of 75 affordable housing units across the two neighborhoods. The financing includes four percent (4%) Low Income Housing Credits and Historic Tax Credits. These 75 units are part of a 324-unit affordable portfolio which is intended to be developed in phases.
City of Pittsburgh
Chief Communications Officer
Urban Redevelopment Authority