Housing Preservation Program

About the Program

The Housing Preservation Program (HPP) helps fund the acquisition, renovation, or operations of existing subsidized or naturally occurring affordable rental units located within the City of Pittsburgh.

HPP loans deploy funding to development partners looking to acquire or renovate affordable rental property portfolios that come on the market, preventing the loss of existing affordable housing stock that is at risk of turning market rate. HPP is also intended to assist nonprofit and for-profit developers that seek to keep properties affordable instead of transitioning the units to market rate. All projects receiving HPP funding must include a minimum of 5 units rented to households earning at or below 80% of Area Median Income (AMI).

Eligibility Requirements

The property under construction must contain at least five units of affordable housing. A developer must comply with all building codes and relevant legislation from the funding source. The URA staff must find the project is feasible, based on our underwriting.

Eligible borrowers must contribute $3,000 or more per unit in equity to an eligible project. The borrowers contribution may be reduced to $1,000 per unit for non-profit developers, subject to underwriting. The project must be found to be feasible, according to the URA's underwriting standards. Priority is given to projects that leverage additional funding sources.

Affordability Period

A deed restriction is recorded on the property or properties for which the funds are used. For HPP loans, the affordability term is 40 years.

How to Apply

You are encouraged to email ResidentialDevelopment@URA.org with any questions before submitting the application. 

1. Review the Housing Preservation Program Guidelines

2. Download and complete the following documents to be included in your application:

   Program Application
   
   

3. Please email ResidentialDevelopment@URA.org

Submit Application