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Over $425,000 Granted To Support Neighborhood Transformation Projects
We’re pleased to announce grants, which will support creative, innovative, collaborative and inspiring projects and ideas that will help transform marginalized neighborhoods into more sustainable, healthier, and stronger communities.
A total of 5 Catalytic grants and 6 Small and Simple grants were awarded, representing our unique approach to investing in neighborhoods—our Complete Capital framework—which deploys human, social, and intellectual capital along with financial investments. “Unlike other community development organizations in Pittsburgh, we serve as an investor, thought leader, and catalyst for innovative approaches,” says Neighborhood Allies President, Presley Gillespie. “We’re excited to work with our partners to solve complex challenges ranging from workforce and minority talent development, expanding economic opportunity for minority entrepreneurs, to revitalizing commercial corridors in distressed neighborhoods,” adds Gillespie. These investments, layered with additional Neighborhood Allies support and know-how, will seed community development ideas that will help transform vulnerable neighborhoods and create social and economic impact. Awards were made in six priority communities across the City of Pittsburgh and into neighboring first-ring suburbs. Read more.
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Temporary Public Art and Placemaking Pilot Update!
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Neighborhood Allies, LISC and NEF Host HUD Financing Workshop
Approximately 50 individuals, representing community organizations, community development corporations, local developers and real estate professionals came out to learn how to preserve, recapitalize, and improve performance of existing affordable multi-family housing in our community. The workshop provided property owners and other stakeholders with information, tools and resources including various HUD financing programs, Section 8 vouchers and equity sources.
Celia Smoot, Director of LISC Housing, kicked off the morning session, speaking to the importance of affordable multi-family housing developments in our communities. Celia shared her extensive real estate finance background, specifically in the areas of affordable housing and community development, by presenting real life case studies as examples and coaching the attendees through exercises which focused on various financial analysis tools. Read more.
A special thank you goes to our generous event sponsors: BNY Mellon and NEF!
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Pittsburgh Asset Building Network Launches!
On Tuesday, March 29th, we kicked off the Pittsburgh Asset Building Network at the Kaufmann Center in the Hill District.
Our interest in asset building stems from our belief that all Pittsburghers, regardless of where they live, should have access to economic opportunity and prosperity. Many low-income residents, especially racial minorities, have no financial assets and zero or negative net worth, leading to housing insecurity, reliance on safety net programs, and inability to invest in their families’ future. A focus on building assets (including savings, investments, homes, cars, businesses, and education) means that families can build wealth and save for their future.
The local network will meet quarterly and work to advance shared priorities to build financial security of low-income residents. Early ideas include access to banking services, support for entrepreneurs, children’s savings accounts, and employment that covers basic needs and encourages savings. Read more.
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