Clairton Homes

Clairton Homes is located in Clairton, PA, a Pittsburgh suburb less than 12 miles southeast of downtown. Pittsburgh is the second-largest city in the state and the largest in the Ohio Valley, with a Metropolitan Statistical Area (MSA) population of over 2.4 million. Globally recognized as "the Steel City," Pittsburgh features a robust economy with a GDP exceeding $194 billion. The regional market is anchored by ten Fortune 500 companies, led by PNC Financial Services Group, PPG Industries, Howmet Aerospace, WESCO International, and Viatris. World-class higher education also serves as a major economic driver, drawing global talent to institutions such as the University of Pittsburgh, Carnegie Mellon University, Duquesne University, and Robert Morris University. Multifamily fundamentals in the South Allegheny submarket continue to show positive momentum. Over the past year, the market demonstrated sustained demand, supported by annual rent growth of 2.1%, outpacing the broader Pittsburgh metro. Looking ahead, the rental environment remains highly favorable for ongoing occupancy stability. Construction activity remains modest with only 39 units currently underway, ensuring a supply-constrained market that will protect long-term rental demand. Positioned along the western banks of the Monongahela River, Clairton Homes is located within the heart of the Mon Valley industrial corridor. Several major industrial employers are located nearby, most notably U.S. Steel Clairton Coke Works, the largest coking facility in North America. Beyond local industry, residents benefit from exceptional regional recreation and retail; the property is situated near the eastern trailhead of the famous 47-mile Montour Trail and is a short drive from regional shopping hubs like the Monroeville mall and family entertainment destinations, including Kennywood Amusement Park. The immediate surroundings consist of established single-family residential streets, public parks, local schools, and neighborhood commercial corridors.Clairton Homes is a 44-unit property with LIHTC affordability restrictions covering 100% of the units. Developed in 2004 using 9% Low-Income Housing Tax Credits, the project came out of initial Tax Credit Compliance in 2018. All units are restricted to 40%, 50%, and 60% of Area Median Income, with 31 units subsidized by tenant-based vouchers. The property is located in a Qualified Census Tract and Opportunity Zone, and is eligible for immediate LIHTC resyndication. Recent capital expenditures include upgrades to building systems (replacing hot water heaters and HVAC) as well as extensive interior renovations upon turnover (LVT flooring, cabinet and appliance upgrades, and updated fixtures). Additionally, a property-wide water conservation initiative was completed in 2023, which included installing high-efficiency toilets, faucets, showerheads, and plumbing fixtures. Situated on a combined 3.77 acres, the apartment community comprises 20 townhouse buildings with wood-frame construction, vinyl siding exteriors, and pitched asphalt shingle roofs. The unit mix consists of (26) two-bedroom units and (18) three-bedroom units. Tenants are responsible for electric and gas (heat & hot water), while the owner pays for water, sewer, and trash collection. Units feature off-street parking spaces (garages in select units), additional storage, dishwashers, walk-in closets, private patios, and W/D hookups.