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
Senior Living Design | Apr 24, 2024
Nation's largest Passive House senior living facility completed in Portland, Ore.
Construction of Parkview, a high-rise expansion of a Continuing Care Retirement Community (CCRC) in Portland, Ore., completed recently. The senior living facility is touted as the largest Passive House structure on the West Coast, and the largest Passive House senior living building in the country.
ProConnect Events | Apr 23, 2024
5 more ProConnect events scheduled for 2024, including all-new 'AEC Giants'
SGC Horizon present 7 ProConnect events in 2024.
Mixed-Use | Apr 23, 2024
A sports entertainment district is approved for downtown Orlando
This $500 million mixed-use development will take up nearly nine blocks.
Resiliency | Apr 22, 2024
Controversy erupts in Florida over how homes are being rebuilt after Hurricane Ian
The Federal Emergency Management Agency recently sent a letter to officials in Lee County, Florida alleging that hundreds of homes were rebuilt in violation of the agency’s rules following Hurricane Ian. The letter provoked a sharp backlash as homeowners struggle to rebuild following the devastating 2022 storm that destroyed a large swath of the county.
Student Housing | Apr 19, 2024
$115 million Cal State Long Beach student housing project will add 424 beds
A new $115 million project recently broke ground at California State University, Long Beach (CSULB) that will add housing for 424 students at below-market rates. The 108,000 sf La Playa Residence Hall, funded by the State of California’s Higher Education Student Housing Grant Program, will consist of three five-story structures connected by bridges.
Sponsored | Multifamily Housing | Apr 19, 2024
5 Reasons to Opt for Wood I-Joists in Multifamily Construction
From versatility to reliability and adaptability, engineered wood I-joists offer builders, designers and developers numerous advantages in multifamily construction. Discover the top five benefits and handy installation tips.
MFPRO+ News | Apr 18, 2024
Marquette Companies forms alliance with Orion Residential Advisors
Marquette Companies, a national leader in multifamily development, investment, and management, announces its strategic alliance with Deerfield, Ill.-based Orion Residential Advisors, an integrated multifamily investment and operating firm active in multiple markets nationwide.
MFPRO+ New Projects | Apr 16, 2024
Marvel-designed Gowanus Green will offer 955 affordable rental units in Brooklyn
The community consists of approximately 955 units of 100% affordable housing, 28,000 sf of neighborhood service retail and community space, a site for a new public school, and a new 1.5-acre public park.
MFPRO+ News | Apr 15, 2024
Two multifamily management firms merge together
MEB Management Services, a Phoenix-based multifamily management company, and Weller Management, a third-party property management and consulting company, officially merged to become Bryten Real Estate Partners—creating a nationally recognized management company.
Mixed-Use | Apr 13, 2024
Former industrial marina gets adaptive reuse treatment
At its core, adaptive reuse is an active reimagining of the built environment in ways that serve the communities who use it. Successful adaptive reuse uncovers the latent potential in a place and uses it to meet people’s present needs.
