URA to Invest $2.5 million+ in New Construction and Rehabilitation of 144 Units of Affordable Housing in the Hazelwood, East Hills, and East Liberty Neighborhoods
PITTSBURGH, PA (March 10, 2022) The Urban Redevelopment Authority of Pittsburgh (URA) announced that it will invest $2,560,000 of Housing Opportunity Fund (HOF) funding in new construction and the rehabilitation of 144 units of affordable housing in the Hazelwood, East Hills and East Liberty neighborhoods in the City of Pittsburgh, pending URA Board approval.
The URA Board of Directors is set to vote on:
- A $620,000 HOF For-Sale Development Program grant to City of Bridges Community Land Trust (CBCLT) for construction of four new homes in Hazelwood
- A $1,250,000 HOF Rental Gap Program (RGP) loan to Prestigious Hills, LP for the renovation of Prestigious Hills, a 117-unit rental community in the East Hills
- A $690,000 HOF RGP loan to AHI Stanton Highland Apartments, Inc. for the renovation of 23 rental units in East Liberty
Phase I of the 4800 Block CBCLT Residential Development will include four, for-sale single family homes on Chatsworth Avenue in Hazelwood. Each home will be a three-bedroom and one-and-a-half-bathroom modular built unit to be sold to homebuyers between 50% and 80% of Area Median Income (AMI), with anticipated sales prices at or between $120,000-$135,000.
The developer is CBCLT; the contractor is EcoCraft Homes, Inc. Total project cost is $2,065,000.
The Prestigious Hills 4% Low Income Housing Tax Credit (LIHTC) redevelopment includes the rehabilitation/renovation of 117 scattered site units across 29 separate townhomes located on East Hills and Welner Drives. Built in 1969 as part of a larger 404-unit development, the properties were acquired by East Hills, LP in 2004 and underwent a rehabilitation named “Second East Hills.” Eighteen years later, many of the units need reinvestment and renovations to maintain affordable housing assets in the community.
Rehabilitation/renovation of the units includes interior, exterior, and site improvement work. The project is comprised of 87 three-bedroom units and 30 four-bedroom units. Twenty-four units will be rented at or below 30% of AMI and 93 units are at or below 50% of AMI; all units will remain affordable at those AMI thresholds for a period of 40 years. All units are also supported by a HUD Housing Assistance Program Section 8 contract.
The borrower/developer is Prestigious Hills, LP; the contractor is Mistick Construction. Total project cost is $24,009,488.
Stanton Highland Apartments, located at 738 N. Highland Avenue in East Liberty, is comprised of three multi-family residential buildings originally owned by the Pittsburgh Theological Seminary for use as market-rate graduate student housing. Due to changing needs in the community, the Seminary sold the buildings to ACTION-Housing, Inc. under the condition that the apartments be rehabilitated and transformed into affordable housing.
Phase I of ACTION-Housing’s plan began in 2020, which included core and shell renovations to the 31 units in the Anderson and McMillan Buildings. With Phase I complete, ACTION-Housing will use the RGP Loan for the next phase. During Phase II, the 23-unit Hawthorn Building will undergo similar core and shell renovations, with construction of several additional components, including a new community room in the complex’s interior courtyard, a new elevator tower, and an accessible building entrance. Modifications will also be made to 10 of the units to make them accessible for tenants with disabilities.
The borrower/developer is AHI Stanton Highland Apartments, a single purpose entity created by ACTION-Housing; the contractor is Nelcon, Inc. Total project cost is $4,850,236.
The URA Board of Directors meets virtually this afternoon, March 10, at 2 p.m. More information can be found here.
About the Urban Redevelopment Authority of Pittsburgh (URA)
The URA is the City of Pittsburgh's economic development agency, supporting the City’s economic development goals, which are designed to create a city of inclusive opportunity for residents, stakeholders, and communities. The URA is committed to creating more housing that is affordable to the average Pittsburgher; encouraging more entrepreneurship and small business development; promoting inclusive growth and quality job creation; expanding neighborhood and main streets revitalization efforts; and developing a talented workforce that is equipped with the skills of the future.