Repurpose + Revitalize Sep21

Repurpose + Revitalize...

The concept of home comes in many shapes and forms. For the senior residents of South Hills in Pittsburg, home arrived in the shape of a high school. A school was probably one of the last places that seniors thought they would spend their golden years, yet Yardi client Congregate Management Services and its development arm a.m. Rodriguez Associates saw an unparalleled opportunity in the vacant property. Account Manager Terri Zaegel recalls the conceptualization of the senior housing community. “The City actually came to Anthony Rodriguez and said, ‘We have this huge, beautiful building. We don’t want it torn down. We don’t want that space just vacant. Can you help us out?’ He developed it into housing for seniors.” Rodriguez, founder and chairman at Congregate Management Services, has gained a reputation throughout the region for his ability to transform vacant commercial and industrial properties into beautiful multifamily housing. His gift is helping small cities and towns breathe new life into some of their most challenging neighborhoods. The repurposing projects prevent economy-crippling urban decay. According to the Pittsburg Community Reinvestment Group (PCRG), a study in nearby Philadelphia reveals that houses within 150 feet of a vacant or abandoned property experienced an average net loss of $7,627 in value. Governments lose significant tax revenue on vacant properties as well, sometimes averaging as much as 83 percent of the owed balance. There is a strong correlation between vacant properties, an uptick in the cost of municipal services, and an increased crime rate. The PCRG report states that “41 percent of abandoned buildings could be entered without use of force; of these open buildings, 83 percent showed evidence of illegal use by prostitutes, drug dealers, property criminals, and others.” Arson and vandalism are among other crimes that plague neighborhoods with...