Affordable Allocations Approved
At its December meeting, the URA Board approved the Housing Opportunity Fund’s (HOF) first allocation of funds.
The Housing Opportunity Fund was established in 2016 through the recommendation of the Affordable Housing Task Force to address the shortage of affordable housing units in Pittsburgh. The Fund was created to support the development and preservation of affordable and accessible housing within the City of Pittsburgh.
The first HOF allocations approved were Rental Gap Program loans for Riverview Towers and YMCA Hill District.
Riverview Towers, located in Squirrel Hill, is an affordable housing complex for senior citizens. With HOF funds, Riverview Towers Inc. will renovate and update 191 units. Riverview Towers offers residents supportive services such as transportation, fitness, and health and wellness programs. The average age of residents is 85 years old.
HOF funds were also awarded to ACTION-Housing Inc. to renovate the YMCA on Centre Avenue in the Hill District. The renovation will include 74 single room occupancy units for low-income households. The YMCA offers a wide array of services to residents, which include health and wellness programs, financial counseling, education classes, and life skills workshops.
Additionally, on December 13, 2018, a Request for Proposals (RFP) was released to identify not-for-profit Program Administrators to provide construction and administrative services for the Homeowner Assistance Program for low-income homeowners. Homeowners can receive up to $30,000 of repairs through the program. The RFP can be viewed here.
HOF’s remaining three programs - Down Payment and Closing Cost Assistance, Housing Stabilization Program, and Affordable For-Sale Development Program - are slated to roll out early 2019.
The HOF and URA are here to help. For questions and more information, please contact Vethina Tercias, HOF community outreach specialist at 412.255.6639 or email@example.com.