The City of Pittsburgh’s redevelopment agency is accepting applications for funding from developers on projects to convert office buildings into affordable housing.
The city’s goals are to improve downtown vitality, make better use of underutilized and vacant commercial office space, and alleviate a housing shortage. The Urban Redevelopment Authority of Pittsburgh’s Downtown Conversion Program will use its own funds along with state money and $2.1 million in federal American Rescue Plan Act funds for the initiative.
Pittsburgh’s program will provide loans for downtown projects that dedicate at least 20% of housing units for residents earning at or below 80% of the area median income (AMI). It will also prioritize projects that lease to and hire downtown workers earning 60% of AMI or lower, use the city’s Housing Choice residential assistance voucher program, and maximize other public and private financing sources.
Other cities have launched similar strategies as they experience reduced utilization of downtown office space resulting from more remote and hybrid work arrangements by enterprises. With fewer workers commuting to downtowns each day, there is less commercial activity. Increasing the number of people who live in these areas will counteract that trend.
Related Stories
Adaptive Reuse | Mar 26, 2024
Adaptive Reuse Scorecard released to help developers assess project viability
Lamar Johnson Collaborative announced the debut of the firm’s Adaptive Reuse Scorecard, a proprietary methodology to quickly analyze the viability of converting buildings to other uses.
Adaptive Reuse | Mar 21, 2024
Massachusetts launches program to spur office-to-residential conversions statewide
Massachusetts Gov. Maura Healey recently launched a program to help cities across the state identify underused office buildings that are best suited for residential conversions.
Adaptive Reuse | Mar 15, 2024
San Francisco voters approve tax break for office-to-residential conversions
San Francisco voters recently approved a ballot measure to offer tax breaks to developers who convert commercial buildings to residential use. The tax break applies to conversions of up to 5 million sf of commercial space through 2030.
Sustainability | Mar 13, 2024
Trends to watch shaping the future of ESG
Gensler’s Climate Action & Sustainability Services Leaders Anthony Brower, Juliette Morgan, and Kirsten Ritchie discuss trends shaping the future of environmental, social, and governance (ESG).
Adaptive Reuse | Mar 7, 2024
3 key considerations when converting a warehouse to a laboratory
Does your warehouse facility fit the profile for a successful laboratory conversion that can demand higher rents and lower vacancy rates? Here are three important considerations to factor before proceeding.
Urban Planning | Feb 5, 2024
Lessons learned from 70 years of building cities
As Sasaki looks back on 70 years of practice, we’re also looking to the future of cities. While we can’t predict what will be, we do know the needs of cities are as diverse as their scale, climate, economy, governance, and culture.
Adaptive Reuse | Feb 4, 2024
Corporate modernist buildings increasingly popular fodder for adaptive reuse projects
Beginning in the 1970s adaptive reuse projects transformed 19th and early 20th Century buildings into distinctive retail destinations. Increasingly, developers of adaptive reuse projects are targeting outmoded corporate buildings of the 1950s to 1980s.
Luxury Residential | Jan 30, 2024
Lumen Fox Valley mall-to-apartments conversion completes interiors
Architecture and interior design firm Morgante Wilson Architects (MWA) today released photos of its completed interiors work at Lumen Fox Valley, a 304-unit luxury rental community and mall-to-apartments conversion.
Senior Living Design | Jan 24, 2024
Former Walgreens becomes affordable senior living community
Evergreen Real Estate Group has announced the completion of Bellwood Senior Apartments. The 80-unit senior living community at 542 25th Ave. in Bellwood, Ill., provides independent living options for low-income seniors.
Adaptive Reuse | Jan 23, 2024
Adaptive reuse report shows 55K impact of office-to-residential conversions
The latest RentCafe annual Adaptive Reuse report shows that there are 55,300 office-to-residential units in the pipeline as of 2024—four times as much compared to 2021.
