Tax credits go to redevelop former Poli’s site
A recent announcement of tax credits is bringing smiles across the commonwealth, including in Pittsburgh, where a little over $1.1 million for each of 10 years, or a little over $11 million over a 10 year period, will be used to redevelop the former home of the iconic Poli’s restaurant at 2607 Murray Ave., near the entrance to Squirrel Hill.
The relief comes as part of $40.3 million in tax credits and nearly $6 million in PennHOMES funding for multifamily housing developments that the Pennsylvania Housing Finance Agency approved during a July 14 meeting in Harrisburg. ACTION-Housing, a nonprofit agency established in 1957 by then Pittsburgh Mayor David Lawrence and philanthropist Richard King Mellon to address regional housing issues, is leading the Poli’s project.
The announcement was lauded by local and regional politicians.
“Great news just broke that ACTION-Housing will be working to revitalize the former Poli site in Squirrel Hill through a Pennsylvania Housing Finance Agency tax credit,” state Sen. Jay Costa (D-District 43) posted on Facebook. “Great things are happening around Pittsburgh!”
“It was such good news to hear that ACTION-Housing received a highly competitive tax credit to build mixed-income lofts on the old Poli’s restaurant site,” added Councilman Corey O’Connor.
The project, which will be the Seymoure and Corinne Krause Commons, will yield a seven-story development. The first floor will occupy the Sally and Howard Levin Clubhouse, a psychiatric rehabilitation program operated by JRS. The second floor will house administrative offices of JRS and the Supportive Living Program. While floors three through seven will consist of 33 residential units, half of the apartments will be designated for people living with disabilities. The other half will be designated for residents with limited incomes, said State Rep. Dan Frankel (D-District 23).
Harold Love, JRS’ executive director, remarked, “This is an exciting moment for JRS and the population we serve. This project has been many years in the making.”
“This money will provide much-needed housing relief in the area and reaffirms our commitment to ensuring available, affordable housing throughout the City of Pittsburgh,” Frankel said. “While Pittsburgh has enjoyed unprecedented growth in the last decade, not all of our neighbors have been able to enjoy the prosperity of this growth. With this development, low-income or disabled neighbors have another option that allows them to stay and work in their community.”
Adam Reinherz can be reached at adamr@thejewichchronicle.net.
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