On Thursday, March 5, ELDI’s Director of Operations, Ted Melnyk, and Main + Elm Development Company’s Real Estate Associate, Shashwati Khawale, presented our latest Federal Home Loan Bank (FHLBank) Affordable Homeownership project to the Larimer Consensus Group during its monthly Open Body meeting at Steel City Squash. The gathering brought together residents and community members interested in learning more about the next phase of housing development in the neighborhood.
Ted opened the presentation with an overview of the eight-unit project, followed by a more detailed walkthrough from Shashwati, who shared maps and drawings showing what the new homes will look like and where they will be located throughout Larimer.
The development will include homes on Auburn Street (125, 157, and 159), Mayflower Street (159, 173, and 175), and Meadow Street (6677 and 6679). Six of the homes will be newly built, highly energy-efficient residences, while two will undergo extensive rehabilitation. One of the Auburn Street homes (159) will be fully ADA accessible to accommodate elderly residents and wheelchair users.
Following the presentation, Ted fielded thoughtful questions from attendees about affordability, construction costs, and home pricing. In his responses, he shared information that highlighted the true costs and behind the scene work involved with funding affordable units such as these. He also introduced several members of his family who are involved in the work taking place in Larimer, including his son Marshall Melnyk, who is supervising some of the rehabs for Berna Construction, and his daughter-in-law Florencia Melnyk, who is supporting as a real estate agent—along with his four-week-old granddaughter, Isabella Manuela Melnyk. The moment served as a reminder that for many of those involved, the work in Larimer is personal: the Melnyk family has called the neighborhood home for the past four years, reflecting a shared investment in Larimer’s continued growth.
The project—supported by a $1.2 million FHLBank of Pittsburgh grant—is expected to receive full funding by the second quarter of 2026. Construction is anticipated to begin in the third quarter of 2026, with the homes planned for sale by the second quarter of 2027.