The latest phase of a development in Pittsburgh’s Larimer section will bring more mixed-income housing to the neighborhood and renovate the former Larimer School, which has sat empty for over 40 years.
Officials broke ground Thursday on 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.
Councilman Rev. Ricky Burgess spoke during the groundbreaking ceremony: pic.twitter.com/zFmylTuW65
— Julia Felton (@JuliaFelton16) October 21, 2021
This marks the final phase of development related to the Larimer/East Liberty HUD Choice Neighborhoods grant, which awarded $30 million to the city in 2013.
Phase I of the project included 85 housing units, and Phase II brought 150 more units. Those phases are complete.
In the upcoming phases, the developer will renovate the former Larimer School, a historic focal point of the community that was built more than 120 years ago but has been closed for more than four decades. Through this initiative, Gonzalez said the developer is “knitting it back into the community.”
In addition to renovating the former school, the developers also will construct new buildings to connect the school with recent developments along Larimer Avenue into East Liberty.
The last two phases will include 84 new housing units throughout five buildings. Of those units, 80 will be earmarked for affordable housing, said Shaina Madden, acting director of housing and lending for Pittsburgh’s Urban Redevelopment Authority.
Officials said the housing units will be affordable for families making 60% of the city’s area median income. That means that an individual making $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, bike storage and green spaces, along with close proximity to parks and public transportation.
“It takes a special community to be able to do it,” Peduto said, applauding the community’s involvement in making the project come to fruition and preserving the historic school building.
“I honestly believe it is a cornerstone of Larimer,” Peduto said.
While local officials touted the development, Councilman Ricky Burgess said they should be looking at this development as only the beginning.
“We can do this again,” he said. “We know exactly how to do this.”
He called on local officials to set aside about $150 million to fund similar projects in Larimer and other Black neighborhoods citywide as a way to fight gentrification.
In addition to the Choice Neighborhoods funding, the project was funded by Low-Income Housing Tax Credit Equity and Historic Tax Credit Equity, Housing Authority of Pittsburgh Moving to Work and Capital funds, a variety of URA funds and Pennsylvania Housing Finance Agency PHARE Housing Trust Funds.
