Ravenstahl: $400,000 grant awarded to support Five Points project

PITTSBURGH, Oct. 11 – State Rep. Adam Ravenstahl, D-Allegheny, today announced the Observatory Hill Development Corp. has been awarded a $400,000 grant to assist with the group’s Five Points business district redevelopment project.

The project aims to renovate three adjoining properties to provide 6,000 square-feet of retail space and six apartments.

“I am happy to announce that this project has been selected to receive this grant,” Ravenstahl said. “These types of projects -- which take vacant or abandoned properties and rehabilitate them for new use -- are critical to sustaining and revitalizing our communities.”

The grant was awarded through the state’s Community Revitalization Fund Program, administered by the Pennsylvania Housing Finance Agency. The program seeks to expand or rehabilitate affordable housing stock coupled with retail/commercial space to promote community revitalization, especially in those parts of the state that are struggling economically.