PITTSBURGH, PA (January 16, 2020) The board of the Urban Redevelopment Authority of Pittsburgh is set to vote today on funding for affordable housing on the North Side and improvements to a Hill District small business.
The URA is set to vote on $1.4 million in loans from the Housing Opportunity Fund Rental Gap Program and the Rental Housing Development Program to fund renovations to 70 units across the California-Kirkbride, Central Northside, and Perry South neighborhoods.
North Side Associates (NSA) previously owned 324 units located in 239 separate buildings across the North Side. The units, which are a mix of 1, 2, 3, 4, and 5-bedroom apartments, were originally built between 1870 and 1910. To date, 197 of the units have been sold to affiliated entities in two phased developments (Phase I containing 75 units is completed, and Phase II containing 122 units closed in August 2019 and is under construction). These loans will support the third phase of renovations.
The URA board is also set to offer a $72,000 loan to the MOKA art gallery in the Hill District to cover renovations of the gallery. It houses a first floor commercial gallery/education/community space, second floor arts studio, 3rd floor apartments for artists in residence, and a 4th floor apartment. The loan has a 10-year term with 2% annual interest.
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