The renovation of historic buildings in Downtown Pittsburgh has been given yet another boost. The Colcom Foundation has granted Landmarks Community Capital (LCC) $500,000 to create a loan fund for property owners of historic structures in the Golden Triangle. The program aims to spur more retail in downtown’s historic buildings.
LCC is the lending subsidiary of the Pittsburgh History & Landmarks Foundation (PHLF). According to PHLF President Arthur Ziegler, the loans are available for borrowing to start a business in a historic building, as well as for storefront and façade improvements.
“It’s for improvements to the physical historic real estate,” Ziegler says. He adds that the new initiative is designed to work in concert with existing efforts, such as the Pittsburgh Downtown Partnership’s Paris to Pittsburgh program, and the URA’s façade improvements program.
LCC will make loans to building owners ranging from $5,000 to $30,000.
Although there are several historic buildings looming tall in Pittsburgh’s skyline, Ziegler says most structures are between two and five stories.
And downtown’s historic districts, which include the Cultural District and Market Square, may soon be expanded. Funded in part by a grant from the Pennsylvania Historic Museum Commission, Ziegler says PHLF has recently submitted an expanded districts proposal to the National Register.
This new initiative comes on the heels of Mayor Luke Ravenstahl’s $4 million Downtown Preservation Program, a partnership with PHLF that is restoring seven historic structures in the Wood and Market Street corridors.
For more information about the loans, and to apply, visit LCC's website
Writer: Andrew Moore
Source: Arthur Ziegler