The latest phase of a development in the Larimer section of Pittsburgh will bring more mixed-income housing to the neighborhood and renovate the old Larimer School, which has been empty for over 40 years.
Authorities on Thursday opened Phases III and IV of Cornerstone Village, which is being developed by St. Louis-based McCormack Baron Salazar.
“This new neighborhood can and will be a place where families thrive,” said LaShunda Gonzalez, director of government relations and communications for McCormack Baron Salazar.
City Councilor Reverend Ricky Burgess spoke at the dedication ceremony: pic.twitter.com/zFmylTuW65
– Julia Felton (@ JuliaFelton16) 21 October 2021
This is the latest phase of development linked to the Larimer / East Liberty HUD Choice Neighborhoods grant, which awarded the city $ 30 million in 2013.
Phase I of the project included 85 housing units and phase II provided an additional 150 units. These phases are finished.
In future phases, the developer will renovate the old Larimer School, a historic focal point of the community that was built over 120 years ago but has been closed for over four decades. With the move, Gonzalez said the developer is “getting back into the community.”
In addition to renovating the old school, the developers will also construct new buildings to connect the school with recent developments along Larimer Avenue to East Liberty.
The last two phases will include 84 new housing units spread over five buildings. Of those units, 80 will be allocated to affordable housing, said Shaina Madden, acting director of housing and loans for the Urban Redevelopment Authority in Pittsburgh.
Officials said housing would be affordable for families earning 60% of the city’s median income. This means that a person earning $ 35,600 per year – or 60% of the median income of $ 59,400 – could afford to live there.
The development also includes indoor and outdoor community spaces, a fitness center, bicycle storage and green spaces, as well as close proximity to parks and public transportation.
âIt takes a special community to be able to do this,â said Peduto, applauding the community’s involvement in the realization of the project and the preservation of the historic school building.
âI honestly believe this is a cornerstone of Larimer,â said Peduto.
While local officials have touted the development, City Councilor Ricky Burgess said they should see the development as a start.
“We can do it again,” he said. “We know exactly how to do this.”
He called on local authorities to set aside around $ 150 million to fund similar projects in Larimer and other black neighborhoods in the city to fight gentrification.
In addition to Choice Neighborhoods funding, the project was funded by Low-Income Housing Tax Credit Equity and Historic Tax Credit Equity funds, Housing Authority of Pittsburgh Moving to Work and Capital funds, a variety of URA funds and Pennsylvania Housing Finance Agency PHARE Housing Trust. Funds.