Hazelwood Initiative buying 63 properties to preserve affordability

From: Pittsburgh Post Gazette

An agreement between a neighborhood nonprofit and a local landlord aims to keep 63 homes in redeveloping Hazelwood permanently affordable.

There is a signed sales agreement between Hazelwood Initiative and David Cunningham, the neighborhood’s biggest landlord, though the neighborhood development group still needs to raise all the funds to complete the three-part deal, said Dave Brewton, the organization’s director of real estate, on Tuesday.

By purchasing the properties, Mr. Brewton said, Hazelwood Initiative hopes to prevent displacement of lower-income residents that could happen due to rising rents as the Hazelwood Green site develops and adds new market-rate housing.

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