The New Granada Square Apartments, built in partnership with CHN Housing Partners,
will be a five-story building on Centre Avenue in between the Black Beauty Lounge, 2037 Centre Ave., and the building that houses the Hill District Federal Credit Union, 2021 Centre Ave. The first floor will be reserved for 7,200 square feet of commercial space, and the remaining floors will house 40-units labeled as “affordable,” with the units priced from 20 to 80% of the Area Median Income ("AMI"), averaging below 60% AMI and including 10 Project Based Vouchers from Housing Authority of the City of Pittsburgh to assist with rental costs. Twenty-seven apartments will be one-bedroom; 13 will be two-bedroom. Many of the apartments will be marketed to those in the arts community.
This project has been funded and will begin construction soon.
July 2019, the Hill CDC was awarded $1.1 million and $500,000 from the Pennsylvania Housing Finance Agency (PHFA) for the New Granada Square Apartments, which is slated to begin construction next year.
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Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
New Granada Square Apartments is managed by Housing Authority of the City of Pittsburgh.