PUI Pittsburgh Urban Initiatives
Pittsburgh Urban Initiatives (PUI) is an LLC affiliated with the Urban Redevelopment Authority (URA) of Pittsburgh. Our mission is to strategically invest in office, retail, mixed-use, and community facility developments designed to rehabilitate abandoned and blighted sites in the City of Pittsburgh. The focus is on opportunities to catalyze investments in low-income communities that sit adjacent to stabilized real estate markets. The initiative was created in order to apply for and facilitate New Markets Tax Credit (NMTC) distribution for projects in City, and invest in low income neighborhoods that show the potential for sustainable growth. Targeted areas include: the East End, Lower North Side, Uptown/Hill, and Southern Hilltop Neighborhoods.
The New Markets Tax Credit Program (NMTC Program) was established by Congress in 2000 to spur new or increased investments into operating businesses and real estate projects located in low-income communities. The NMTC Program attracts investment capital to low-income communities by permitting individual and corporate investors to receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions called Community Development Entities (CDEs).
In total, PUI has received $118 million in NMTC allocation to use in the City of Pittsburgh. [Press Release]
How do I apply?
Do I qualify?
To date, PUI has applied for and received $90M in New Markets Tax Credit allocation authority to use in projects in the City of Pittsburgh. Completed projects include 201 Stanwix Street, East End Community House, Riverhounds Stadium, Oak Hill Commons, Centre Heldman Plaza Shop 'n Save, Energy Innovation Center and the Gardens at Market Square.
- Total Project Costs: $233,100,000
- Total NMTC QLICI Loans: $90,000,000
- Construction Jobs Created: 1,548
- Permanent Jobs Created: 2,106
- 201 Stanwix Street
- East End Community House
- Riverhounds Stadium
- Oak Hill
- Hill Grocery Store
- Energy Innovation Center
- Gardens at Market Square
Thank you for your interest in learning more about our organization. We care about your questions and concerns.
If you would like additional information regarding what we do, or you would simply like to talk to someone about your project, please feel free to contact us through any of the methods below.
Application submission and general inquiries: Rebecca Davidson-Wagner
Pittsburgh Urban Initiatives LLC
c/o Urban Redevelopment Authority of Pittsburgh
200 Ross Street, 12th Floor
Pittsburgh PA, 15219