State to provide $10M to Growth Fund for Hazelwood Green research facility
January 30, 2018
Senate Democratic Leader Jay Costa announced the award of $10 million to Regional Industrial Development Corporation (RIDC) Southwestern Pennsylvania Growth Fund to transform a former industrial mill in Hazelwood into a research facility for Carnegie Mellon University.
“What was once a successful, productive steel mill will soon see new life as a research center,” Costa said. “I am proud to support funding this project because it respects the industrial history of Pittsburgh and celebrates its new position as a leader in research and higher education.”
RIDC was awarded a $4 million ‘Business in Our Sites’ grant, and a $6 million loan from the same program. The loan portion of the award is financed at an interest rate of three percent, paid back to the state over a period of 20 years.
The project will aid the effort to redevelop the massive, abandoned mill. Mill 19B at Hazelwood Green, where the research facility will be, comprises 12.6 acres and is one of three remaining structures from its original use as a steel mill. The research center is part of phase one of this project; phase two will include the development of office space, garages, lab and workshop spaces that will meet LEED gold standards.
The funds will be used for sitework, excavation, utilities, landscaping, renovations, construction, updated HVAC and engineering. In total, the project will cost $24 million. RIDC will contribute more than $700,000 and secure nearly $9 million in private financing.
The redevelopment is expected to create 200 jobs.