Century Building

The Century Building is the historic rehab of a mixed-use, mixed-income building in Pittsburgh's Cultural District.

Background

In 2007, Century Building Housing Limited Partnership purchased the Century Building located at 130 7th Street in the Central Business District/Cultural District from a private owner. The 12-story building was a former office building, and the building footprint is 6581 square feet.

Development

The Century Building construction financing closed in September 2008 and construction was complete in August 2009.

Results

The Century Building is a designated historic structure and received an allocation of Historic Tax Credits. Additionally, PHFA provided financing through the Low Income Housing Tax Credits (LIHTC). The Century Building is one of the first developments in the Central Business District that included affordable units. The first floor offers restaurants space, the second floor offers commercial office space, and the third floor is TREK’s management office, a community room and a work-out facility. The remaining nine floors are residential units. Thirty units are affordable and 30 units are market rate units (workforce units).

Facts

• Developer: Century Building Housing Limited Partnership (TREK Development, Inc.)
• Contractor: Guardian Construction
• Architect: Koning Eizenberg Architects
• Total Development Cost: $16,858,924
• URA Financing: $2,800,00
• Fifty percent or 30 units will be rented to households with incomes at or below 60 percent of the Area Median Income (AMI).