Homewood Prepares for $10 Million Development
Pittsburgh city government is taking the final steps toward approving a $10 million senior housing development in Homewood.
City Council is expected to pass a measure Tuesday that would authorize the Urban Redevelopment Authority to sell property along North Homewood Avenue to a private developer.
The URA would sell five lots on the 500 block to Homewood Station Senior Housing for $61,500. Afterward, the URA will team up with the state government to provide $10 million in tax credits and other subsidy so the property can be developed.
"That project is set to begin construction in October, and be done in the next 13 to 14 months," said East End Councilman Ricky Burgess, a longtime Homewood resident. "It is a $10 million project, more or less, and is the largest development in Homewood in the last 12 years."
The four empty lots on the corner of Finance Street and Homewood Avenue would be the site of the new 47-unit senior housing low-rise. The former post office next to those lots would be transformed into a community cafe.
Burgess said the first floor of the incoming senior housing low-rise would be reserved for businesses.
"The building itself will be paid for by the seniors, but the community would also get the benefit of brand new, state-of-the-art commercial space at reduced rates," said Burgess.
The East End Councilman said he hopes the green development in Homewood will spur further investment into nearby neighborhoods like Point Breeze.