Published Saturday, July 27, 2002
FARRELL
delayed
The closing date to formally settle housing redevelopment plans for Steel City Terrace in Farrell has been pushed back until the middle of next month.
The closing
- initially expected today
- is the final agreement that needs to be settled between the Mercer County Housing Authority, the Pittsburgh-based developer and the federal department of Housing and Urban Development.
Construction on buildings at Steel City Terrace cannot begin until the deal is closed.
L. DeWitt Boosel, executive director of the Mercer County Housing Authority, said the tentative closing date is Aug. 14. HUD is reviewing 38 agreements between the authority and developer and informational documents related to the project. The deal closes when HUD approves the paperwork.
In what likley will be five phases of construction at Steel City and in some surrounding neighborhood, the authority and developer Falbo/PennRose Joint Partnership plan to build 74 public housing units, 45 apartments rented at closer to the market rate and 26 homes for sale.
Demolition of 100 existing apartments has begun.