Pittsburgh Awarded Six Low Income Housing Tax Credits to Bring 309 Affordable Homes to the City

The Pennsylvania Housing Finance Agency (PHFA) has awarded Low Income Housing Tax Credits (LIHTC) to six major Pittsburgh developments as part of its 2025 funding round. These investments will help create and preserve hundreds of affordable housing units across the Downtown, Carrick, Fairywood, Hazelwood, and Brighton Heights neighborhoods.

The LIHTC program is one of Pittsburgh’s most important tools to advance quality affordable housing for low-income families. The program, administered by the PHFA in Pennsylvania, provides an annual tax credit to property owners during their first 10 years of operation. In return, properties must remain affordable for at least 30 years. Developers use these tax credits to raise equity from investors to finance the project’s construction or rehabilitation.

The Urban Redevelopment Authority of Pittsburgh (URA) is supporting the awarded projects with more than $16 million in preliminary gap funding commitments as part of their applications. Two of the developments will also include land conveyed by the URA to make the projects possible. 

“I want to thank the PHFA for investing in our city. The federal LIHTC program is a vital piece of the financing puzzle that helps to spur the production and preservation of quality, affordable rental housing for low-income families throughout Pittsburgh,” said URA Executive Director Susheela Nemani-Stanger. “This funding will go a long way toward ensuring affordability and stability in our neighborhoods. We're also grateful to the developers of these projects for their commitment to meeting the growing need for affordable housing in our communities.” 

The projects receiving LIHTC awards include:

• Ross Lofts – Central Business District
  
  
• 421 Seventh Ave. Apartments – Central Business District
  
  
• Hill Top Villas – Fairywood
  
  
• HG2 Blair – Hazelwood
  
  
• Carrick Senior Apartments – Carrick
  
  
• Riverview Manor – Brighton Heights
  
  

In total, these developments will create or preserve 330 housing units, 309 of which will be affordable for low-income households.

These awards represent a significant investment in the future of Pittsburgh’s neighborhoods, by advancing housing stability, supporting inclusive growth and ensuring that residents of all income levels have a place to call home in our city.

For more information, visit the PHFA website at https://www.phfa.org/mhp/.