Pittsburgh’s affordable housing wins big (again) in the competition for state money
Three affordable housing developments in Pittsburgh will receive important state funding, the city announced on Thursday. Located in Fairywood, the Hill District and Allentown, the projects will create a total of 123 units. Of those, 112 will be affordable to households with low or moderate income apartments.
The Low Income Housing Tax Credit program is the primary way affordable housing gets built in Pennsylvania. Each year, the state’s housing finance agency receives far more applications than it can fund, but for a few years now Pittsburgh has seen a record number of its projects approved.
"Providing high quality affordable housing has been a top priority of my administration and we are grateful to Governor Wolf and our partners in Harrisburg for helping to bring additional tax credits to Pittsburgh,” Mayor Bill Peduto said in a release.
Local support for projects can play an important role in securing state aid: The Urban Redevelopment Authority committed funding to the projects before they were submitted for the state’s consideration.
The tax credits will ensure that the apartments will be affordable for at least 30 years.
Wolf said in a separate release that “the pandemic has shown just how important affordable housing is for people’s health and quality of life.”
Statewide, the money announced on Thursday will help build 1,974 units of affordable housing.