Power of 32 Site Development Fund

Increasing the inventory of shovel-ready sites increases opportunities for greater business investment – facility locations and expansions – and job creation in the 32-county greater Pittsburgh region, which comprises parts of Pennsylvania, Maryland, Ohio and West Virginia. It’s critical to prepare sites – through grading, infrastructure installation and environmental remediation – so they are ready to meet market demand for construction.

The Solution: Power of 32 Site Development Fund is Readying the Region for Greater Investment

With commitments totaling nearly $49 million at this time, the Site Development Fund closes critical infrastructure financing gaps and moves prepared sites to market more quickly. The Fund makes patient mortgage loans to sites that have the potential for regional impact or that are identified as a priority for the region, with a preference for redeveloping brownfield sites.

The establishment of a new private investment fund to support site development was adopted as part of the Power of 32 regional vision, a multi-year process to identify common challenges and opportunities across the 32 counties. Through the Power of 32 Implementation Committee, the Allegheny Conference on Community Development agreed to lead the effort to establish the Site Development Fund.