Falconhurst Development Underway in Wilkinsburg
PITTSBURGH – Allegheny County Executive Rich Fitzgerald announced the start of construction on the Falconhurst Development, an $11.5 million historic restoration and affordable housing initiative in the Hamnett Place neighborhood in Wilkinsburg.
The project, by Landmarks Development Corporation, a real estate development subsidiary of the Pittsburgh History & Landmarks Foundation, will bring to market 33 units of high quality affordable housing to the National Register-listed historic Hamnett Place neighborhood, by the end of 2016.
“We’re thrilled to see this project underway and are grateful for the work of PHLF and Landmarks on this endeavor,” said Fitzgerald. “This is a long-term commitment to Wilkinsburg and its residents. The work we are beginning today is a new partnership between historic restoration and new construction to create high quality affordable housing.”
This development marks yet another major preservation real estate undertaking in Wilkinsburg, where PHLF through its subsidiary will restore four architecturally significant buildings, including the stately Falconhurst Apartments building; a four-story brick condominium building, and will also build two new townhouses that fit harmoniously into the historic neighborhood.
This is an unusual housing development in that it incorporates a number of sites in and around Hamnett Place, thus creating strong anchors throughout the neighborhood,” said Michael Sriprasert, president of Landmarks Development. “We are grateful to our partners for their commitment to Wilkinsburg and to historic preservation.”
With this next phase of housing restoration, PHLF and its subsidiaries will have restored blocks of housing along Kelly Avenue and Mulberry Street, in addition to significant portions of Rebecca Avenue and Jeanette Street, in a neighborhood where PHLF and its subsidiaries have been active in restoring single family homes, apartment buildings, and beautifying blighted and vacant lots since 2005.
This work would not be possible without various partners and investors including the Pennsylvania Department of Community and Economic Development, the Pennsylvania Housing Finance Agency, Allegheny County, and PNC Bank, among others.
“We expect to complete the work by end of 2016,” said Mr. Sriprasert.