Housing complex due by autumn in Duquesne
A multimillion-dollar financial package will aid the Orchard Park Housing Initiative LP in Duquesne, a 44-unit affordable housing complex that is under construction, bank officials said.
The development at the intersection of Catherine and High streets will be managed by the Allegheny County Housing Authority with Ralph A. Falbo Inc. and Pennrose Properties LLC as the general partners and master redevelopers. Mistick Construction is the contractor. The project could open in late summer or early fall 2015.
The rental apartments will be open to family households with incomes at or below 60 percent of area median income. In addition, Orchard Park Apartments will include a free-standing community building plus new utilities, streets and other municipal improvements.
Citizens Financial Group Inc., the parent company of Citizens Bank N.A., is supplying $8.7 million in construction financing and $11.6 million in equity through the purchase of Low-income Housing Tax Credits for its proprietary fund managed by City Real Estate Advisors Inc.
Sam Spatter is a staff writer for Trib Total Media.