HACP, ARMDC Invest More Than $17M in Gap Financing, PBV Vouchers Toward 7 Downtown Affordable Housing Developments

Nearly 500 affordable and mixed-income units in Downtown Pittsburgh will receive more than $17 million in Moving to Work Gap Financing and Project-Based Voucher investments from the Housing Authority of the City of Pittsburgh (HACP) and its development arm, Allies & Ross Management and Development Corporation (ARMDC).

The HACP is investing $17,500,000 in Moving to Work Gap Financing funds and 286 Project-Based Vouchers for the following seven conversion developments throughout Downtown that are slated for completion over the next year:

• $4,900,000: 120 Cecil Way, 49 PBVs (97 total units), Developer: Beacon Communities (closing planned for 2026)
• $4,200,000: 901-903 Liberty Ave., 22 PBVs (50 total units), Developer: Beacon Communities (under construction) 
• $3,800,000: First & Market, 93 PBVs, Developer: Beacon Communities (under construction)
• $1,600,000: Smithfield Lofts, 16 PBVs (46 total units), Developer: Woda Cooper Companies (closing planned for 2026)
• $1,500,000: Ross Lofts, 46 PBVs (69 total units), Developer: Woda Cooper Companies (closing planned for 2026)
• $1,500,000: 421 Seventh Ave., 40 PBVs (55 total units), Developer: CHN & Massaro Properties (closing planned for 2026)
• PBV Only: The May Building, 20 PBVs (86 total units), Developer: Beacon Communities (under construction)

During the February 2026 HACP Board of Commissioners meeting, the board approved increasing the gap financing allotment for 120 Cecil Way from the previously approved $3,050,000 to $4,900,000 to accommodate a combination of market factors, such as high interest rates and rising construction costs, contingent upon HUD approval of the project.

Cecil Way is a special adaptive reuse development of a decommissioned steam plant aimed at assisting single parents who are pursuing higher education. The 49 Project-Based Vouchers provided by the HACP will be used by Pittsburgh Scholar House’s Wayfinders program participants to provide single parents with housing while they pursue their 2-or 4-year degrees. 

Wayfinders participants who reside at 120 Cecil Way will also receive extensive wraparound services provided by Pittsburgh Scholar House, including childcare, counseling, career readiness, and transportation assistance, housed within the development.

“As Downtown Pittsburgh ushers in an era of transformation, the HACP is committed to expanding the city’s affordable housing portfolio to not only help residents who are in need of safe housing, but to help Downtown continue to thrive,” HACP Executive Director Caster D. Binion said. “We are proud to partner with many community organizations to assist in bringing these visions to fruition.”

“We are excited that HACP’s investment in Project-Based Vouchers will create stable homes for 49 of our scholars and their families, helping them plant roots and flourish while contributing to Downtown’s renewal,” said Dr. Daren Ellerbee, CEO of Pittsburgh Scholar House. “At PSH, we believe housing is more than shelter; it is the launchpad for single-parent scholars to pursue their education, nurture their children’s growth, and strengthen our community.”

Since its inception in December 2012, the HACP and ARMDC have invested and committed more than $69 million in local affordable housing developments through the Project-Based Voucher/Gap Financing Program — spearheaded under Binion’s leadership and supported by federal Moving to Work funds through HUD — with nearly 1,000 PBV units either completed, under construction, or in pre-development. (Note: This does not include all of HACP developments. The $69 million figure is solely for gap financing loans).

For a list of current open waiting lists at HACP Project-Based Voucher sites, please visit: https://hacp.org/housing/apply-for-housing/

For more information on Cecil Way, please visit: https://hacp.org/hacp-armdc-invest-in-downtown-development-centered-around-single-parents-pursuing-higher-education/

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Media Contact: Michelle Sandidge, Chief Community Affairs Officer, 412-456-5058, michelle.sandidge@hacp.org