Pittsburgh Community Land Trust:
Protecting Housing Affordability for Future Generations
Housing prices in the Pittsburgh neighborhood are remarkably low right now, but that has not always been the case and may not be the case in the future -- unless steps are taken to ensure that a range of housing options are preserved in the neighborhood.
Prior to the recent real estate crash, home prices in the Pittsburgh neighborhood had exploded, increasing from a median sale price of $56,000 in 2000 to a median price of $205,000 in 2006. With the development of the Atlanta BeltLine underway and the expectation that a BeltLine transit stop will be located along University Avenue in Pittsburgh, home prices could likely rise again after the real estate market recovers.
To preserve affordable housing, the Pittsburgh Community Improvement Association launched the Pittsburgh Community Land Trust (PCLT) to create a stock of permanently affordable housing throughout the neighborhood. This goal will be accomplished by: