Pittsburgh Neighborhood Developments to Receive Federal Funding
- Oct 25, 2012
Two neighborhood development projects in Pittsburgh will receive $1.6 million in federal grants from the Office of Community Services, an agency of the U. S. Department of Health and Human Services. The funding was announced by the administration of Mayor Luke Ravenstahl.
East Liberty Development Inc. has been awarded approximately $800,000 for the transformation of a historic East Liberty building into the city’s first boutique hotel. The five-story, former YMCA building has been vacant for 10 years. Plans call for 63 guest rooms, a restaurant, exercise facilities, coffee bar, specialty retail, and event and programming spaces. The total cost of the new development is $19 million, including $550,000 in loans offered by the City’s Urban Redevelopment Authority to help finance the acquisition of the property. The project will generate more than 100 new jobs, and construction is expected to begin in the next few months.
The Hill House Economic Development Corporation will receive a $789,000 grant for the construction of a 30,000-square-foot Shop ‘N Save grocery store. The $11.5 million project will also bring 6,800 square feet of retail space and create more than 100 new jobs. Other funding sources include a $1 million Community Development Block Grant and $275,800 in deferred land acquisition financing from the Urban Redevelopment Authority.
“This has been a very difficult project to complete and our community has been waiting a long time for fresh food and new retail options,” said Cheryl Hall-Russell, president and CEO of the Hill House Association and the Hill House Economic Development Corporation. According to the Pittsburgh Business Times, the grocery store will be operated by local store owner Jeff Ross, and construction is being managed by Massaro Corporation.
“Neighborhood projects like these are crucial to continuing Pittsburgh’s Third Renaissance, which is marked by job creation, neighborhood growth and economic development,” Ravenstahl added. “I am grateful to President Obama and his Administration for continuing to invest in the City of Pittsburgh and our 90 neighborhoods.”
Photo credits: www.iiofpitt.org