The Housing Authority of Pittsburgh may acquire 88 properties in the Hill District to expand its Addison Terrace development.
The city's Urban Redevelopment Authority on Thursday will ask its board to approve purchasing the properties from the city for $1 plus costs and then to sell them to the housing authority in two segments -- 69 properties first, and then 19 -- for the same price.
The properties are mostly vacant lots, although three parcels on Trent Street have vacant structures.
The authority would build 57 houses, mostly rentals, with KBK Enterprises, an Ohio developer who plans to apply for low-income tax credits from the Pennsylvania Housing Finance Agency, said Tom Cummings, URA's director of housing.
The estimated cost of this segment, involving 69 properties, is $19 million, he said.
The other 19 properties are primarily along Rose Street, where homeownership is planned.
This is the third phase of redeveloping the 400-unit Addison Terrace. The first two phases involve building 275 rental units on the site.
The URA is placing a 90-day exclusive negotiation period on the Housing Authority's acqusition of the properties. The URA would require final working drawings and evidence of financing before giving final approval to any deal.
Sam Spatter is a Trib Total Media staff writer. Reach him at 412-320-7843 or sspatter [at] tribweb.com.
For more details go to: http://triblive.com/news/allegheny/7128550-74/properties-authority-housi...