Kinkead announces $2.25 million to redevelop local buildings
Grants will fund renovations to create office, residential, and mixed-use spaces
STRIP DISTRICT, Dec. 7 – State Rep. Emily Kinkead, D-Allegheny, announced today that three buildings in the Strip District will receive major renovations thanks to $2.25 million in state grant funding from the Redevelopment Assistance Capital Program.
“I am overjoyed to announce these crucial developments for the Strip District,” Kinkead said. “It is a great success when we can transform abandoned properties into spaces that will grow our local economy and provide additional housing for our residents.
“I am especially excited by the new developments at 3 Crossings that will expand riverfront access for residents and visitors by creating sidewalks, a new road, and public plazas. The Allegheny River is our local treasure, and I will continue advocating for projects that increase river-related opportunities.”
RACP funds have been allocated by the Office of the Budget to redevelop buildings at the following locations:
- 1501 Penn Ave. - $1 million to demolish the existing cold storage building and construct a new building featuring 537,068 square feet of Class A office space, 21,301 square feet of retail space and various exterior improvements including sidewalks, trees and bike racks.
- 3 Crossings - $750,000 to transform the former cardboard factory into a mixed-use neighborhood by developing 600,000 square feet of office space, 50,000 square feet of retail space, 300 residential units, and more than 1,300 parking spaces on a 10-acre site.
- Bayardstown - $500,000 to renovate an underutilized historic building to create leasable office and retail space, including upgrades to the building’s exterior and façade. Critical improvements will be made to the street level including new sidewalks, lighting, and pedestrian enhancements.
“This grant will be a tremendous help to support the revitalization efforts of the former Wholey Building. We appreciate the state’s investment into this important project which will add job growth and economic vitality to the Strip District and the city of Pittsburgh,” said Chris Deppoliti of the Acram Group, the grant recipient for the project at 1501 Penn Ave.
“We are grateful to receive this grant from the commonwealth with the support of Representative Kinkead,” said Steve Guy, president and CEO of the Oxford Development Co., who will receive the grant funds for the project at 3 Crossings. “These dollars will support the creation of spaces where the public can gather and enjoy the natural beauty of the riverfront all while being connected to the amazing urban experience of the Strip District.
“3 Crossings embraces development that focuses on the preservation of our natural environment, the health and well-being of employees and residents, and creation of inclusive places for all Pittsburghers,” said Guy.
RACP is a commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational and historical improvement projects. Learn more here.