East Liberty Development, Inc. (ELDI) has been awarded a $1.2 million Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh) to advance affordable homeownership opportunities in Larimer.
The competitive award will support our Larimer Affordable Homeownership project, a multi-property development initiative that combines the rehabilitation of existing homes with new modular construction to expand access to stable, income-restricted housing. This year, FHLBank Pittsburgh received 160 competitive applications and awarded funding to 51 AHP projects, highlighting the significance of the investment in Larimer.
“This award is a major step forward for our work in Larimer,” said ELDI Executive Director Maelene Myers. “It allows us to continue pairing intentional development with affordability, ensuring that long-time residents and new homeowners alike can build stability and generational wealth in this neighborhood.”
Creating affordable homeownership opportunities
The Larimer Affordable Homeownership project includes eight total properties, blending rehabilitation and new, modular construction to meet diverse housing needs while maintaining affordability. Two of the homes will be reserved for those who earn up to 50% of the Area Median Income (AMI), and six will be reserved for those earning up to 80% AMI.
The modular construction will be delivered in partnership with Module, a modular housing company based in Pittsburgh. Of the eight homes, four units will be specifically reserved for individuals with special needs and/or military veterans, reflecting ELDI’s commitment to inclusive development and housing access for populations that are often underserved in the homeownership market.
This project aligns with our overarching mission to expand affordable homeownership opportunities in the East End, particularly for historically excluded communities. It also advances priorities identified by the Larimer community through the “Build 100” initiative, an effort to create 100 new and rehabilitated homes in the neighborhood as part of a community benefits agreement connected to the expansion of Bakery Square.
“As the Larimer Consensus Group moves forward with our vision to construct 100 homes in the Larimer community, this award is a significant step toward making this vision a reality. This partnership exemplifies our commitment to empowering the community and creating lasting change,” said Donna Jackson, Executive Director of the Larimer Consensus Group, the neigbhorhood’s community organization.
A strategic tool for affordable housing
The FHLBank Pittsburgh AHP is a critical source of gap financing for community-based developers working to deliver affordable housing in strong-market neighborhoods. By pairing AHP funds with other public and private investments, we are able to keep homes affordable while delivering quality construction that supports long-term neighborhood stability. This is ELDI’s fourth FHLBank grant. Other projects have supported affordable homeownership in East Liberty’s Enright Court and Garfield.
“Affordable homeownership doesn’t happen by chance,” Ted Melnyk, ELDI’s Director of Operations, added. “It requires the right tools, the right partners, and sustained investment. This grant brings those pieces together.”
Looking ahead
The grant commitment expires on December 11, 2026, with project conditions to be finalized in early 2026. We will continue working closely with project partners and FHLBank Pittsburgh as the development progresses and share updates on construction, homebuyer opportunities, and community impact. We also look forward to celebrating future milestones in partnership with FHLBank Pittsburgh, whose support plays a vital role in advancing affordable housing across the region.