Project Type(s): College or Vocational Training, Incubator, and Manufacturing
Project Year: 2015
CDE(s): Pittsburgh Urban Initiatives and PNC
NMTC amount: $6,760,000
Total Project Costs: $7,641,398
The renovation of an existing five-story 135,800 square foot industrial building located in the Homewood neighborhood of Pittsburgh for the purpose accommodating creative start-up and nascent entrepreneurial business activity. The project was financed in part with new markets tax credits. Bridgeway Capital transforms 7800 Susquehanna Street (7800) into a beacon of economic opportunity for Homewood. Once a vacant warehouse built for Westinghouse Electric, the building is now an economic hub for urban manufacturing, craft businesses, and workforce training. The building reflects Bridgeway's strategy to provide capital for the people and places creating economic opportunity and community revitalization in Homewood. Bridgeway invested over $10 million into the community including $7 million in 7800's renovation, $2.4 million in contracts with Homewood businesses maintaining 7800, and $1.4 million in loans to Homewood businesses and other community development projects. 7800 emerges as vital investment in an underinvested area by attracting new commercial activity and supporting local businesses.