URA to Invest $2.78+ Million in Affordable Housing Across Five City of Pittsburgh Neighborhoods
PITTSBURGH, PA (May 11, 2022) The Urban Redevelopment Authority of Pittsburgh (URA) will invest more than $2.78 million in the creation, renovation, or preservation of affordable housing in five City of Pittsburgh neighborhoods - South Oakland, Garfield, Squirrel Hill South, Polish Hill, and Fairywood, pending Board approval.
The URA Board will vote on:
- A For-Sale Development Program (FSDP) grant of up to $325,000 to Oakland Planning and Development Corporation (OPDC) for construction of four new homes in South Oakland
- A Housing Opportunity Fund (HOF) Rental Gap Program (RGP) loan of up to $350,000 to Laurentian Hall Associates, Inc. for improvements to Laurentian Hall, a 36-unit multi-family property in Garfield
- An HOF RGP loan of up to $250,000 to Munhall Rd Apartments, Inc. for improvements to Munhall Road Apartments in Squirrel Hill South
- A FSDP grant of up to $450,000 to City of Bridges Community Land Trust (CBCLT) for construction of four new homes in Polish Hill
- An HOF RGP loan of up to $1,412,368 with Cedarwood Homes Holdings, LLC for the new construction of 46 townhomes of senior housing in Fairywood.
The Frazier North Residences will be four new-construction for-sale single family homes on Frazier Street. Each home will have four bedrooms and two bathrooms, with one bedroom and a full bathroom on the first floor, making these homes easily adaptable for multigenerational families or families with special needs. One of the homes will be reserved for a household experiencing homelessness; two of the homes will be reserved for households with special needs.
These homes will be included in the Oakland Community Land Trust providing permanently affordable homeownership opportunities to homebuyers at or below 80% AMI.
Located on Penn Avenue, Laurentian Hall is a 36-unit multi-family property, offering federally subsidized affordable one- and two-bedroom units to seniors and residents with disabilities paying no more than 30% of their income on rent. Improvements to the 30+ year complex will include replacement of the roof, elevator control system and door operator, brick point and caulking, a new boiler, and sealing of the parking lot.
Of these units, 18 will be rented to tenants with incomes at or below 30% Area Median Income (AMI) and 10 units be rented to tenants with incomes at or below 50% AMI. The HOF RGP loan would include a record of deed restriction for securing the affordability of these units over a 40-year period.
Squirrel Hill South
Munhall Road Apartments is a 12-unit multi-family building, offering affordable one-bedroom units to residents with developmental disabilities paying no more than 50% of their income on rent. Improvements will include interior and exterior painting, landscaping, new windows throughout the building, full common area carpet replacement, four common area HVAC units, and plaster repair throughout.
Nine units be rented to tenants with incomes at or below 50% AMI. The HOF RGP loan would include a record of deed restriction for securing the affordability of these units over a 40-year period.
The four, new-construction for-sale single family homes will be located on Brereton Street in Polish Hill. Two units will have two bedrooms and one-and-a-half bathrooms; two units will have three bedrooms and one-and-a-half bathrooms.
All units will be sold to buyers at or below 80% AMI. The units will also be included in the community land trust stewarded by CBCLT, who will maintain a 99-year land lease on the properties and ensure permanent affordability.
Cedarwood Homes is the new construction of 46 units of affordable senior housing located at the intersection of Broadhead Fording and Village Roads in Fairywood. The new development will consist of 11 buildings with an innovative quad design and one duplex building with private ground-level entrances for each unit.
All units will feature one bedroom, one bathroom with approximately 770 square feet. Five units will be affordable at or below 20% AMI, 19 units at or below 50% AMI, 15 units at or below 60% AMI, and seven units will be market rate. The affordability of these units will be further supported by 24 Section 8 Project-Based Vouchers provided by the Housing Authority of the City of Pittsburgh.
More information on these developments can be found in the URA May Board Meeting Agenda.
The URA Board of Directors meets virtually on Thursday, May 12, at 2 p.m.
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.