PITTSBURGH, PA (June 14, 2021) More affordable housing will be coming to East Liberty through an agreement between the Urban Redevelopment Authority of Pittsburgh and Trek Development Group.
The URA board is set to vote Thursday on selling a parking lot at the corner of Harvard and Beatty streets to Trek to make way for a 42-unit mixed-income apartment building. The Harvard Beatty development follows the completion of Trek’s mixed-income Mellon’s Orchard development nearby on Station Street.
Both developments are in response to the wave of high-end market-rate rental housing development in the area and the subsequent loss of affordable housing in the East End, including the loss of housing at Penn Plaza. Developers are working with the URA and housing relocation agencies to notify displaced residents of the new housing opportunities, and the new housing comes with long-term deed restrictions to keep them affordable.
Of the 42 units planned at Harvard Beatty, nine are market rate; four are available at or below 20% Area Median Income (AMI); four at or below 30% AMI; 14 at or below 50% AMI; and 11 at or below 60% AMI.
Harvard Beatty was awarded an allocation of 9% Low-Income Housing Tax Credits (LIHTC) by the Pennsylvania Housing Finance Agency (PHFA) in August 2020 to help finance the construction. That was part of a record number of low-income housing credits secured last year by Mayor William Peduto’s administration in support of affordable housing developments citywide.
At Thursday’s meeting the URA board plans to sell the property to Trek and approve a $450,000 Rental Gap Program loan with the developer.