Celebrating Downtown Revitalization Progress with Beacon Communities
This week, the Urban Redevelopment Authority of Pittsburgh (URA) joined Beacon Communities and partners for its “Celebration of Progress” of three residential conversion and preservation projects in Downtown Pittsburgh: 120 Cecil Way, May Building, and 901-903 Liberty Avenue.
120 Cecil Way
This old and vacant steam plant will be converted into 97 units of affordable housing. The URA committed $5 million toward this project. Financial closing is expected before the end of the year, and after that, construction will kick off on this complicated conversion.
May Building
The in-progress renovation of 86 units at the May Building are preserving 46 affordable units of housing and creating 20 more. The URA invested $3 million to keep this building safe and secure into its next century of life.
901-903 Liberty Avenue
The conversion of two office buildings into one apartment building is underway, and it will create 50 new affordable units of housing. The URA invested $5 million to build on the success of Penn Avenue and the Cultural District.
Together, these projects will bring 233 residential units to Downtown, of which 213 will be new or preserved affordable units, and 20 will be market rate.
"The transformation of these three historic properties is a testament to what public-private collaboration can achieve for Downtown Pittsburgh's growth," said Susheela Nemani-Stanger, URA Executive Director. "These developments not only preserve our architectural history through adaptive reuse, but they also reactivate key economic corridors. Thank you to Beacon Communities for its partnership in the revitalization of Downtown."
In addition to these three projects, Beacon Communities started construction on the First & Market Building in January 2025.
In total, Beacon Communities is building 326 units of housing in Downtown Pittsburgh, with 306 of those units being rented affordably for residents earning less than 80% of the area median income. By investing $17.8 million across several loans, the URA was able to leverage over $180 million in investment from Beacon Communities and their partners.
“This is a big investment in our shared vision for the future of Downtown by transforming our historic buildings into housing opportunities for residents and families,” said Mayor Corey O’Connor. “Through these investments and partnerships, we are contributing to the energy, sustainability and vibrancy of this community.”
“Our work in Pittsburgh is grounded in our belief that everyone deserves a high-quality home in a vibrant, connected neighborhood,” said Dara Kovel, CEO of Beacon Communities. “We are incredibly proud of the progress that our team and partners have made on these three transformative developments, and we are grateful for the support from the Shapiro Administration, the City of Pittsburgh, and the Housing Authority to bring these redevelopments to life.”
Beacon Communities’ significant contribution to Downtown housing development complements the Downtown Pittsburgh Revitalization Plan, a collaboration of state and regional partners. Since Governor Shapiro’s historic announcement in October 2024, the Pittsburgh Downtown Partnership renovated Market Square and reopened it in time for the 2026 NFL Draft. The Pittsburgh Cultural Trust completed the new Arts Landing and held a grand opening at the Three Rivers Arts Festival in June.
As part of its Downtown Revitalization Investment Strategy, the URA has committed more than $37 million toward Downtown residential and mixed-use real estate development.
Beacon Communities’ investments in Downtown Pittsburgh have played an important role in securing the future of our region, and with the investment from the URA and our regional and state partners in livability, Downtown Pittsburgh is an attractive place to live, work, play and invest.
