a year of powerful change.

2020 Impact Report

Centralized Real Estate Accelerator

In 2020, Neighborhood Allies created the Centralized Real Estate Accelerator to empower early stage for-profit and nonprofit developers and property owners to achieve their vision by improving technical capacity, increasing financial readiness, and building professional networks.

a year of powerful change.

2020 Impact Report

Centralized Real Estate Accelerator

In 2020, Neighborhood Allies created the Centralized Real Estate Accelerator to empower early stage for-profit and nonprofit developers and property owners to achieve their vision by improving technical capacity, increasing financial readiness, and building professional networks.
The Accelerator focuses on community-based organizations, resident developers, and small business owners with the goal of creating more opportunities for community ownership in Black and Brown neighborhoods, as well as a pipeline of investable projects. The overall goal of this program is to generate system-wide change in Pittsburgh’s community development field to create more equitable outcomes for communities and people of color.

What the Centralized Real Estate Accelerator provides:

E

Project and Neighborhood Marketing and Fundraising to help attract attention from investors, elected officials and other stakeholders to win project support.

E

Project Management Services to help local developers understand risks and mitigants and help stay on time and budget.

E

Development Strategy and Planning by providing data and analysis to help developers see the big picture and start your projects and initiatives on the right path.

Case Example: Centre Avenue Redevelopment

In partnership with the Urban Redevelopment Authority (URA), Neighborhood Allies is working with two developers of color, two local business owners of color, and two neighborhood nonprofits to help them buy and redevelop publicly-owned vacant properties along Centre Ave. in the Hill District. The process began when Neighborhood Allies assisted eight developers, through the Equitable Empowerment Fund (EEF), prepare their response to the URA’s request for proposals. The Accelerator is now working with six who have advanced to refine project scopes and budgets, perform due diligence, and assemble capital stacks.

One project benefiting from the Accelerator program is Big Tom’s Barbershop. Thomas Boyd has rented his shop location at 2042 Centre Ave. for 14 years. He now has exclusive negotiating rights with the URA to purchase and relocate to a larger space at 2178 Centre Ave. Mr. Boyd will also own and rent two upper-floor apartment units. A $50,000 grant from Neighborhood Allies was matched by the URA, providing critically needed predevelopment capital to what will become a community anchor in the Hill for years to come.

Copyright © 2021. All Rights Reserved.