City gets $3 mil. for housing

Leaning against the chipped, blue brick wall in the 85-year-old Center Avenue YMCA gymnasium… Leaning against the chipped, blue brick wall in the 85-year-old Center Avenue YMCA gymnasium were the scaled blueprints for the building’s new renovations. The Y is just one of the 11projects being funded by $3.3 million in new affordable housing grants.

The Federal Home Loan Bank of Pittsburgh, the congressionally chartered wholesale bank that uses private funds to develop affordable housing and community projects, is responsible for the sizable donation that was earned by the bank and not procured through taxes.

Pittsburgh is just one out of 12 cities that has a regional home-loan bank in the entire country.

U.S. Sen. Arlen Specter, R-Pa., Rep. Jason Altmire, D-Murrysville, Rep. Mike Doyle, D-Pittsburgh, Pittsburgh Mayor Luke Ravenstahl and Allegheny County Chief Executive Dan Onorato announced the grant recipients to a packed gymnasium of community leaders and politicians in the city’s Hill District yesterday.

Also in attendance were representatives from the five banks that contributed to getting the grants, Citizens Bank, ESB Bank, F ‘ M Bank, Mars National Bank and Western Union.

John Price, president and chief executive of Federal Home Loan Banks, said the grants will help fund the construction and rehabilitation of 604 units for low-income residents in the Pittsburgh area.

“The dollars will result in affecting lives,” Onorato said. “These people might otherwise be homeless.”

Since 2004 the FHL Banks have helped develop more than 914 units and are currently working on 1277 more affordable homes. The emphasis of these projects is on building clean, safe and quality housing for Allegheny county residents.

More recently Affordable Housing Project grants have contributed $17.8 million to funding the reconstruction of 80 projects across Pittsburgh and Allegheny County.

“When I drove past Crawford Square, I was pleased with the fine example of what the city is able to achieve,” Ravenstahl said.

Doyle praised Pittsburgh for its cultural success but warned that failure to develop Pittsburgh communities and homes would result in a failure overall.

However, before leaving the podium he restored the light atmosphere by joking about his desire to “hurry the presentation,” so that he could make it to the Pirates game at PNC Park on time.

Acknowledging the current economic and homeowner crisis, Specter believes that it is the federal government’s responsibility to fund these city projects by holding Wall Street accountable for spending and protecting taxpayers.

“Too much money is spent on Wall Street and not enough on Main Street,” Specter said.

Altmire agreed. He wants Pittsburgh to be a starting point for how the crisis of consumer confidence in the lending industry should be addressed.

“This $3.3 million investment could not come at a better time for Allegheny County,” Altmire said. “With rising costs and a slowing economy, there is a growing need for affordable housing in our area.”

Within the next year, the 11 projects awarded with varied amounts of the grant money, which include Crossroads Meadow, East Braddock Housing, The Upper Rooms and Centre Avenue YMCA Housing program, will decide what renovations or facilities need to be made or built.

The YMCA, which Specter said requires a new ceiling for a perfect arch shot, will be upgrading its plumbing and electricity, adding 20 new rooms for low-income area residents and renovating 77 existing units of transitional housing.

“Its about time,” said Robert Hart, Center Avenue YMCA security guard. “We are sure going to put it to good use.”