The Urban Redevelopment Authority board voted yesterday to lend $2.8 million to a firm that is turning the Century Building, Downtown, into mixed-income housing in an environmentally friendly setting.
The building, at 130 Seventh St., will feature 60 apartments, all geared toward households earning $20,000 to $60,000 a year, said William Gatti, president of Trek Development. He said tenants should be able to move in by April, and rents will range from $600 to $1,250 per month.
There will be nine stories of apartments above three stories of retail and office space. Trek is using environmental technology that should lead to certification as a green building, perhaps at the silver level or better on the Leadership in Energy and Environmental Design rating scale.
"It's a green building, it's Downtown, it's affordable," said URA board Chairman Yarone Zober.
The total project cost is $16.8 million -- around $7 million will be covered by federal tax credits for historic renovation and low-income housing and Allegheny County will contribute $750,000.
The URA board also approved the transfer of the Freedom Corner monument in the Hill District to the City of Pittsburgh, where plans are under way to set up a maintenance and improvement trust fund.
