Pennley Place

Also know as The New Pennley Place
==Background==
* Part of East Liberty neighborhood in Pittsburgh
* http://www.tcbinc.org/what_we_do/projects/fp_pennley.htm
==Insights==
This $23 million multi-phase redevelopment marks the first major housing investment in Pittsburgh’s troubled East Liberty neighborhood in more than a generation. New Pennley Place replaced a severely distressed, HUD-insured residential “superblock” created as part of sweeping urban renewal that reshaped East Liberty in the 1960s. Over the years, the former apartment complex became widely perceived as being dense, deteriorated, unsafe, and undesirable. Substantial mortgage delinquencies, deferred maintenance, and high vacancy rates led HUD to foreclose on the complex in 1997, prompting a call for a community-minded owner to assume the property.
The Community Builders, Inc. (TCB) stepped in to reverse the decline and set a new standard for mixed-income residential development in the neighborhood. With the support of local civic groups and the City of Pittsburgh’s Urban Redevelopment Authority, TCB acquired the property in partnership with East Liberty Development Inc., the neighborhood community development corporation. The transfer was accompanied by a $4 million HUD upfront grant with the condition that the property remain affordable to low-income renters. TCB took over management upon transfer and immediately initiated improvements while operating the complex through a nearly four year redevelopment process that included selected demolition, substantial renovation, and new construction as well as major infrastructure changes to re-establish a traditional streetscape for the 7.25 acre site. During the Pennley revitalization, all residents who lived at the property and remained in good standing were able to stay and move into new housing. Many of the former residents also benefited from lower rents after renovation, thanks to TCB’s financial structuring which introduced project-based rental assistance to the complex for the first time along with market-rate rentals.
The first phase of New Pennley Place opened in late 1999 and consists of 102 new and renovated apartment units in mid-rise building, townhomes, and duplex style residences. The next two phases followed in 2001 and 2002 with additional townhomes and duplexes, as well as a 38 unit low-rise apartment building for low income seniors. In total, New Pennley Place has created 174 new or substantially renovated rental housing units, with 146 reserved for low and moderate- income households.
In addition to introducing quality housing at affordable rents, TCB’s involvement in the New Pennley Place redevelopment has benefited the East Liberty neighborhood and residents in other significant ways. The development team employed more than 65 local residents to construct New Pennley Place. Twenty-three of these residents also passed a two week asbestos and lead abatement course sponsored by TCB and the local union, and at least eleven resident workers have been employed in the construction trades on an ongoing basis since working at New Pennley Place. Services available to residents of the property include access to welfare to work assistance, family crisis intervention, technology training, and other support to establish and maintain self-sufficiency.
:"...we appreciated the attitude toward urban fabric making– here the priorities are clearly toward community building."
:— Alex Krieger, Harvard University School of Design, juror for American Institute of Architects' Design Awards
===Project Highlights===
174 new or substantially renovated family and senior rental homes with 146 reserved for low and moderate-income households
* TCB Role: Owner, Developer, Management Agent
* Total Development Cost: $23 million
* Total Units: 174 (three phases)
* Type of Construction: Substantial Rehabilitation; New Townhouses and Low Rise Apartments
* Type of Housing: Family and Elderly Rental
Awards
* 2001 Tax Credit Excellence Award, Affordable Housing Tax Credit Coalition
* 2001 Merit Award, Builder magazine
* 2001 Pillars of the Industry Award for Best Multi-Family Rehab, National Association of Home Builders
* 2000 Meritorious Achievement Award, Association of Local Housing Finance Agencies
* 2000 Certificate of Merit, American Institute of Architects, Pittsburgh Chapter
==Links==
* East Liberty
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