Real Estate Development

The Residences at Wood Street (Formerly Wood Street Commons): 301 Wood Street Pittsburgh, PA 15222

Wood Street Commons. At the request of the City of Pittsburgh, Allegheny County, and several local foundations, ACTION-Housing became involved in efforts to preserve Wood Street Commons and its 258 Single Room Occupancy (SRO) units for the homeless or those at-risk of homelessness located in Downtown Pittsburgh. A new ownership corporation was formed, The Residences at Wood Street (RWS), with representatives from ACTION-Housing, Community Human Services, the Urban Redevelopment Authority of Pittsburgh, Allegheny County Department of Economic Development, and the Foundation community. The acquisition was completed in 2009 and the new owners immediately began fundraising to address deferred maintenance issues at the building. ACTION-Housing acted as the “managing general partner,” Community Human Services continued to provide a wide range of services to the residents and NDC Real Estate was engaged to manage the property. RWS was successful in raising $4.0 million to replace building systems and to maximize energy efficiency. RWS continues to seek additional funds to renovate the commercial space and attract a tenant(s) for the space which is approximately 50% of the building. Occupancy of the commercial space is the final piece in stabilizing the operation of RWS.

Total Project Cost: $4,200,000
Sources: PHFA Preservation Through Smart Rehab
Allegheny County
Architect: RSH Architects
Engineer: Iams Consulting
Contractor: Mosites Construction
Partners: Urban Redevelopment Authority
Allegheny County

Peebles Square: Wilkinsburg

Peebles Square Over a two year period, ACTION-Housing worked diligently with Allegheny County and the Borough of Wilkinsburg to acquire more than 20 blighted parcels through the vacant property program. The goal of our development project at Peebles Square in Wilkinsburg was to assemble enough land to effectuate a change in the neighborhood by returning this blighted city block into renovated and newly constructed homes available for sale to low- and moderate income homebuyers, and enhance the tax base for the Borough of Wilkinsburg. The project encompasses a two block area in between Pennand South Avenues, and Trenton and Peebles. To date, the Peebles Square project has built eight new homes and rehabilitated seven more. All 15 homes have been sold. We are about to begin construction on another property, which has also been sold, and are currently in the process of looking for funding for three more homes in the Peebles Square development.

Total Project Cost: 3.5 to 4 million
Funding Sources: Allegheny County Department of Economic Development
Pennsylvania Housing Finance Agency
Architect: Marvin Miller Architect
Engineer: Fahringer, McCarty, Grey Inc.
Contractor: Mistick Construction
Partners: Allegheny County Department of Economic Development
Borough of Wilkinsburg
Hosanna House
Nine Mile Run Watershed Association
Pennsylvania Housing Finance Agency

Penn Mathilda Apartments

 A rending of the Penn Mathilda Apartments The Penn Mathilda apartments, on Penn Avenue in Bloomfield, will provide a unique community benefit. As a mixed-use building, not only will it provide much needed affordable housing for the area's low-income workforce, but will provide first floor commercial space for the Bloomfield-Garfield Corporation, a community development organization. Of the thirty-nine units, half will have a wait-list preference for veterans. Construction began in January of 2015, and the building should be completed in a year's time.  
Total Project Cost: $12 million
Tax Credit Agency The Pennsylvania Housing Finance Agency
Investors:

BNY Mellon
The National Equity Fund, Inc.
The Urban Redevelopment Authority

Architect: Moss Architects 
Community Partners Bloomfield Citizens Council,
Bloomfield Garfield Corporation,
Veterans Leadership Program of Western Pennsylvania