PITTSBURGH, PA (August 13, 2020) Governor Tom Wolf and the Pennsylvania Finance Housing Agency board today announced that six affordable housing developments in the City of Pittsburgh will be receiving tax credits this year, which is a record-high for the city.
The agency is increasing the number of 9% Low-Income Housing Tax Credit Program (LIHTC) allocations for developers constructing affordable housing, following Mayor William Peduto making an increase in such tax credits his top priority in Harrisburg.
The projects awarded today were supported by over $5 million in preliminary commitments from the Urban Redevelopment Authority of Pittsburgh to provide gap funding, as part of their applications.
Governor Wolf today also announced the issuance of a new round of funding for housing programs through the Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) fund, including $250,000 for the URA’s Housing Stabilization Program.
“I want to thank Governor Wolf for delivering these credits, which are the most powerful weapon we have to advance affordable housing in Pittsburgh. Finding housing has been a major issue in the city the past several years, and has become even more burdensome with the economic devastation of the pandemic, so these credits are all the more necessary and welcome,” Mayor Peduto said.
The redevelopment projects receiving the credits are the following:
- Larimer CNI Phase III by McCormack Baron Salazar/Allies & Ross Development, for new construction of 37-unit mixed income, mixed use (4,800 sq. ft. commercial space) building on Larimer Avenue @ Meadow Street building plus 5 townhomes on Winslow Street (total 42 units; 33 affordable)
- Gladstone Residences by Hazelwood Initiative & The Community Builders, for adaptive reuse and historic rehabilitation of a portion of the former Gladstone School into 53 mixed income apartment units (44 affordable; 9 market rate)
- Garfield Highlands by Bloomfield Garfield Corp./Gatesburg Road Development, for scattered site, lease to own program on North Aiken, Kincaid, Hillcrest and Rosetta Streets
- Harvard Beatty by Trek Development Group, for new construction of 42-unit mixed income apartment building to complete Mellon's Orchard South development (32 affordable; 10 market rate units); provides replacement housing for former Penn Plaza residents
- Cal-Bride by Northside Properties R & S LLC, for new construction of 42 affordable units as replacement housing for final phase of Northside Properties; 30 unit apartment building @ California & Kirkbride; 5 duplexes and 2 detached houses
- Burrows Views by BCJ Partners II LLC/(Corcoran Jennison/Beacon Communities/HACP), for new construction of 123 mixed income units to improve the economic integration of the Oak Hill community
Today’s announcements follow successful affordable housing initiatives by the Urban Redevelopment Authority’s Housing Opportunity Fund (HOF).
Under recommendations from an Affordable Housing Task Force named by Mayor Peduto in 2015, the HOF uses proceeds from a $10 million annual City allocation to fund affordable housing programs and activities. In 2019, HOF assisted 230 households through the Down Payment and Closing Cost Assistance Program (DPCCAP), Homeowner Assistance Program (HAP), and Housing Stabilization Program (HSP), and created and/or preserved 110 rental and for-sale affordable housing units through the Rental Gap Program (RGP) and the For-Sale Development Program.
For information on housing matters please visit the Housing Assistance Resource Portal (HARP) launched by the City of Pittsburgh in May.
