Residential Development Financing

Urban Redevelopment Authority of Pittsburgh
Residential Development Financing

Single and Multi-Family:
Community Development Investment Fund (CDIF)

Eligible recipients

City of Pittsburgh non profit community-based organizations meeting specific criteria. The CDIF recipient can act as developer or co-developer, or can lend the CDIF funds to a developer.

Eligible projects

Commercial, industrial, and residential real estate developments

Maximum grant amount

$150,000 per project; $200,000 per year per organization

Leveraging

• Residential projects: 1:1 (other public and private investment to CDIF funds invested)
• Industrial/commercial projects: 2:1 (other public and private investment to CDIF funds invested)

Project benefit

• Residential projects: 51% of units must be sold or rented to low income households, or development must be located in a Certified Redevelopment Area and/or eliminate slum and blight
• Industrial/commercial projects: 51% of new jobs created must be made available to low income households or the development must eliminate slum and blight

Program funding sources

CDBG and DCED