Pittsburgh Downtown Conversion Program

The Urban Redevelopment Authority of Pittsburgh (URA) requests funding proposals for projects from developers for the Pittsburgh Downtown Conversion Program (PDCP) that call for the creation of new affordable housing in Downtown Pittsburgh through the conversion of fallow and underutilized office space. Funding available to projects seeking PDCP financing originates from the American Rescue Plan, Commonwealth of Pennsylvania, City of Pittsburgh (City), and URA.   PDCP is designed to provide subordinate loans to projects that commit to creating units affordable to households at lower Area Median Income (AMI) thresholds. The program will prioritize projects that maximize other relevant public and private financing sources (such a tax credits, private debt, and other tools), as well as projects that commit to deeper affordability by utilizing the Housing Choice Voucher Program offered by the Housing Authority of the City of Pittsburgh (HACP). PDCP aims to make the Downtown residential community accessible to all Downtown workers, specifically to low-to-moderate income households. Under current conditions, many who work Downtown cannot afford to live in the neighborhood, or struggle to find available affordable units. PDCP looks to simultaneously address the lack of quality affordable housing options Downtown and reduce underutilized office space. PDCP seeks projects that commit to long-term affordability of units at or below 80% of AMI, with an emphasis on projects that prioritize leasing and hiring of Downtown workers that earn 60% of AMI or lower.