Residential Development Financing

Urban Redevelopment Authority of Pittsburgh
Residential Development Financing

Single and Multi-Family:
Pittsburgh Development Fund (PDF)

Eligible borrowers

For profit and non profit developers

Eligible projects

City of Pittsburgh properties with total development cost of at least $1.5 million

Maximum loan amount

Lesser of 30% of total development cost or $5.0 million

Minimum loan amount

$450,000

Maximum loan term

• Rental Developments: Longer of 20 years or the term of first mortgage
• For Sale Developments: Shorter of three years or the term of the first mortgage

Interest rate

3% to 75 percent of prime rate

Equity requirement

10% of total development cost

Program funding sources

URA-issued taxable bonds and PDF loan repayments