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Who We Are
The RE_CON housing initiative distributes profits from the sale of market rate construction to stabilize existing residents.
+$90,000 STABILIZE + REHAB
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+$60,000 STABILIZE + REHAB
+$100,000 STABILIZATION OF EXISTING HOUSING FOR THE RETENTION OF RESIDENTS +$60,000 STABILIZE HOME
$300,000 PROFIT TOTAL $700,000 SALES PRICE EACH
+$50,000 RENOVATION
+$40,000 PV PANEL + CISTERN INSTALL
In these diagrams, the purple homes are RE_CON 01 + 02 (315 and 317 North Saint Clair Street) sold at market rate value for $700,000, the profit from this sale is then set aside by our partner EDLI into an escrow fund that is dedicated to stabilizing long term neighborhood residents, and supporting renovation and repair efforts in the affordable housing sector, here shown as the orange homes.
Pittsburgh is in need of 17,000 more affordable units than it currently has.
RE_CON is a broad housing strategy being developed by the UDBS and PROJECT RE_, in partnership with ELDI. The goal of RE_CON is to deconcentrate poverty and combat gentrification in Pittsburgh’s blighted neighborhoods by fostering the development of healthy, mixed-income communities. New built affordable housing costs more to build than it can be sold for. This means that different approaches to creating affordable units must be explored. It is not feasible to invest in new built affordable homes as the market currently stands. Collaboration since 2017 has led to the development of a new economic model which leverages the New Market Tax Credit and distributes profits from the sale of market rate construction to stabilize existing residents through rehabilitation projects and energy retrofits of existing homes.
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Jan. Jan.Jun. Jul. Sep. Nov.Aug. Oct. Dec.May MayApr. Apr.Mar. Mar.Feb. Feb.
Nov. 4, 2018 Solar Decathlon Application Due Feb. 8, 2019 Deadline to apply for contextual variance
Dec. 4, 2018 Review w/ EDLI
Feb. 8, 2019 Concept Review workshop Feb.19, 2019 Solar Decathlon Progress Report Due
Mar. 26, 2019 Solar Decathlon Project Report Due
Feb. 13, 2019 RE_CON 01-02 Proposals to ELDI Community Planning Commmittee
Apr. 5, 2019 Schematic design packages delivered to (3) pre-qualified General contractors for initial bid
May 30, 2019 Solar Decathlon Faculty Report Due Apr. 9, 2019 Solar Decathlon Project Presentation Due
Apr. 10, 2019 Presentation to ELDI Real Estate Investment Board May 5, 2019 General Contractor selection announcement
May 24, 2019 General Contractor pulls building permits for RE_CON 01-02 May 3, 2019 CD set at 100% completion Feb. 21, 2020 Construction Complete Mar. 1, 2020 Presentation for Sale
