Selected by The Urban Redevelopment Authority of Pittsburgh to redevelop a former school in the city to serve the needs of both low-income and middle-income seniors, Tryko Partners just obtained a gap financing commitment from the Pittsburgh Housing Authority to help fund the project.
Formerly the Fairywood School in the city’s west end, the site will include a total of 46 one-bedroom units with covered porches, including 39 reserved for low-income residents. There will also be a community building where residents can take advantage of financial literacy, nutrition and exercise programs, health screenings, and other support services for seniors. The project would also anchor a larger neighborhood revitalization initiative.
The Housing Authority City of Pittsburgh (HACP) has committed approximately $1.6 million in gap financing funding, along with 24 project-based Section 8 vouchers, but the project will only go ahead contingent on Tryko receiving 9% Low-Income Housing Tax Credits from the Pennsylvania Housing Finance Agency. The project has the support of the Pittsburgh Mayor and City Council President, so its prospects are promising.
