.png)
By Sonya Tilghman, Hazelwood Initiative Executive Director
The Gladstone Residences project will create 51 new housing units, most of which will be affordable for moderate- low- and very-low-income families. Photo by Matt Peters
The Gladstone Residences project is the result of more than a dozen community meetings held in 2015 and 2016 about the development of the Gladstone Campus. Meeting participants voiced strong support for quality housing. The community’s guiding statement in the Greater Hazelwood Neighborhood Plan expressed the need for “affordable, high-quality residential options.” The development entails the renovation, preservation and adaptive reuse of the former Gladstone school.
The building will provide general occupancy housing for singles, couples, small families and seniors, with access to public transportation and an elevator within the building. Resident amenities will include a top-floor lounge with skyline view, historic auditorium and community room, health and wellness room and outdoor patio space. The building will be all electric and certified under Enterprise Green Building Communities.
Development partners
For this project, Hazelwood Initiative partnered with The Community Builders, a 501(c)(3) non-profit corporation, headquartered in Boston, but with an office and long-term presence in Pittsburgh. The developer’s mission is to build and sustain strong communities where people of all incomes can achieve their full potential.
Affordable units
The building will contain both affordable and market rate units, with the affordable units being funded primarily through the Low-Income Housing Tax Credit program. Of the 51 units, 43 will be affordable and eight will be market rate. Five one-bedroom units and one two-bedroom unit will be reserved for households earning up to 20% of the area median income (AMI). One two-bedroom unit will be reserved for those earning up to 30% AMI. An assortment of apartment sizes is reserved for those earning up to 50% and 60% AMI. The Low-Income Housing Tax Credit program mandates affordability for 40 years. A mix of 20 1- and 2-bedroom LIHTC units will also be project-based Section 8 units, meaning no voucher is needed. Tenants with Section 8 vouchers will also be accepted. Of the units, six will be fully ADA accessible.
The Community Builders will be the overall resident support services coordinator, and will work with Hazelwood Initiative staff, other neighborhood- and community-based organizations, and local agencies to develop an effective plan to deliver support services that meet resident needs.
Tax credit supports
The project uses both Low-Income Housing Tax Credits (LIHTC) and Historic Tax Credits (HTC). Hazelwood Initiative and The Community Builders applied for LIHTC in November 2019; the award notification came in August 2020.
Of the 51 Gladstone Residences units, 43 will be affordable and eight will be market rate.
The whole campus is listed on the National Register of Historic Places. The team had to seek campus listing rather than listing the main school building because the main building and the annex building are considered functionally related.
A listing on the National Register of Historic Places makes buildings eligible to use the Historic Tax Credit program. It mandates that renovations are historically aligned. The State Historic Preservation Office and National Park Service must approve the listing.
Anticipated timeline
July 1, 2022: Financial closing (finalized and secured all funding for development)
July 5, 2022: Construction activities began, including environmental remediation and clean-out
Fall, 2024: Expected end of construction period
Summer, 2024: Expected start of rental application process
Project funding sources
The total funding for this project is $24,123,800. It came from Low Income Housing Tax Credit Equity ($11,499,00), Historic Tax Credit Equity ($3,357,600), the PA Housing Finance Agency ($3,738,000), the Urban Redevelopment Authority ($3,715,000), the Housing Authority City of Pittsburgh ($1,000,000) and other funding sources ($814,200).
Comments