Real Estate Development

Reclaiming abandoned industrial sites and other large structures has been part of Impact’s community stabilization and economic development effort for decades. Financial sophistication and great determination have characterized these development efforts.

Starting in 1979 with the multi-building complex at A and Indiana that included the 5-story Downs Carpet Factory, Impact has reclaimed over 350,000 square feet of former industrial space.

In addition to the Downs Carpet Factory, in 1990, Impact teamed to develop the abandoned YWCA at 174 W. Allegheny Avenue, creating 46 units of affordable rental housing.  As this historic property approaches its centennial, is in the process of being rehabilitated yet again, to serve the needs of a new century.

In 1998, major expansion was enabled by Impact’s successful application for state tax credits. Multiple grants allowed it to obtain both a former billboard manufacturing operation and a defense manufacture facility.  Coupled with significant economic development efforts, these acquisitions brought needed services into the community and supported creation of more than 60 new jobs in social services, employment training, childcare, and warehousing.

Development efforts are ongoing, reflecting Impact’s responsiveness to the community’s changing needs.

Management of three business associations in the area creates another set of opportunities for Impact to facilitate additional development in the area.

If you have an interest in finding development opportunities, office, or warehouse space in the lower Northeast, call us. We would be glad to help.

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