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HILLTOP HOUSING INITIATIVE

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					 HILLTOP                                  HOUSING                                       INITIATIVE
                                       A SOUTH PITTSBURGH HILLTOP COMMUNITY REVITALIZATION PROJECT




be a part of new beginnings…
  The Hilltop Housing Initiative is a plan to provide fifty
affordably priced, new and renovated for-sale homes in
Pittsburgh’s Allentown and Beltzhoover neighborhoods
over the next four years.

  The Initiative represents a total investment of more than
$10,000,000 – all aimed at rebuilding the kind of strong
neighborhood character that has always been so much a
part of Pittsburgh.

  The over-all plan, under construction now, starts along
Beltzhoover Avenue where the first phase of 8 houses will
begin to create a dramatically new gateway to the on-going
revitalization in this part of the South Pittsburgh Hilltop. It
is a promising beginning…

 And you can help to make it happen.


enjoy a great location…
  Beltzhoover is centrally located and it offers excellent
public transportation together with close proximity to the
                                                                             • take a trip… Downtown Pittsburgh and Oakland are
                                                                             just minutes away, as are Route 51 and the regional parkway
Allentown business district and easy access to other major                   system. It’s comparatively easy to go almost anywhere.
employment, shopping, and entertainment destinations
throughout the city and the region.                                          • ride to work… “T” service and PAT bus stops are
                                                                             practically at the front door. If your job is downtown or
                                                                             along the “T” line in the South Hills, think how easy your trip
                                                                             to work could be.

                                                                             • walk in a park…       McKinley Park, just a few blocks
                                                                             down the street, offers recreational facilities and the attraction
                                                                             of a wooded setting in the middle of the city. A walk in the
                                                                             park or a ride on the swings with the kids will help to make
                                                                             your new house a good home for you and your family.


                                                                         DIRECTIONS: From the south and west, take the Liberty Tunnel
                                                                         (or from the north and east, the Liberty Bridge) to the Arlington Avenue
                                                                         connection at the Tunnel’s north portal and then up Arlington to
                                                                         Warrington Avenue in Allentown, and left onto Beltzhoover Avenue off
                                                                         Warrington. Phase 1 development starts two blocks down Beltzhoover
                                                                         Avenue.




                                                        HILLTOP HOUSING VENTURES
 HILLTOP                                          HOUSING                                         INITIATIVE
                                              A SOUTH PITTSBURGH HILLTOP COMMUNITY REVITALIZATION PROJECT


choose a house…                                                                   Two stories plus a full basement and a front porch on a fully landscaped
                                                                                  lot with a detached one-car garage at the rear. (A2)

 The first phase of the Hilltop Housing Initiative offers 8                       Lot 5 – 303 Beltzhoover Avenue
brand new homes. All are traditional Pittsburgh houses                            Two stories plus a full basement with a bay projection on one side and an
that fit easily into the neighborhood and to help to make it                      entry alcove on a traditional front porch on a fully landscaped individual
an attractive new place. And all are professionally designed                      corner lot with a detached one-car garage at the rear. (B1)
to provide the kind of comfort, convenience, and features                         Lot 6 – 219 Beltzhoover Avenue
that add up to a great opportunity at a very reasonable                           Two stories plus a full basement and a front porch on a fully landscaped
price.                                                                            raised lot with a detached one-car garage at the rear. (A2)
                                                                                  Lot 7 – 217 Beltzhoover Avenue
 But each house is different than the others – of course in
where it is located and, also, in the way that it looks on the                    Two stories plus a full basement and a front porch on a fully landscaped
                                                                                  raised lot with a detached one-car garage at the rear. (A2)
outside and sits on its lot and in the way that the lot is
landscaped. So go ahead, choose…                                                  Lot 8 – 604 Industry Street
                                                                                  Two stories plus a full, walk-out basement and a front porch on a fully
                                                                                  landscaped lot with a deep front yard and a patio and one-car parking pad
                                                                                  the rear. (A2)



                                                                                  pick your finishes…
                                                8
                                                                                  The Hilltop developers will delay installing finishes for as
                                                                                  long as possible so that every interested buyer might have a
                                                      7                           chance to pick finishes from a range of standard selections
                                                      6                           at no additional charge or to upgrade finishes as desired to
                                                                                  suit special decorating interests.
                         3                            5
                         2
                         1                            4
                                                                                  get a good deal on a mortgage…
                                                                                  As part of a neighborhood revitalization effort, buyers will
                                                                                  benefit from a variety of special financing arrangements.

Lot 1 – 304 Beltzhoover Avenue                                                    Low deposit and downpayment requirements are typical.
                                                                                  And, for qualified homebuyers, a unique mortgage package
Two stories plus a full, walk-out basement and a front porch on a fully
landscaped lot with a detached one-car garage at the rear. (A2)                   substantially reduces monthly mortgage payments so that
                                                                                  the Hilltop homes can be very affordable to buyers in a
Lot 2 – 302 Beltzhoover Avenue                                                    wide income range.
Two stories plus a full, walk-out basement and a front porch on a fully
landscaped lot with a detached one-car garage at the rear. (A2)
Lot 3 – 300 Beltzhoover Avenue                                                    don’t be shy.…
Two stories plus a full, walk-out basement with a bay projection on the
front of the house and an entry alcove in a traditional front porch on a
wide fully landscaped individual corner lot with a detached one-car garage        Even buyers with past credit difficulties can get help to
at the rear. (B1)                                                                 repair their credit and qualify for a mortgage.

Lot 4 – 305 Beltzhoover Avenue
                                                                  HILLTOP HOUSING VENTURES
 HILLTOP                                       HOUSING                                      INITIATIVE
                                            A SOUTH PITTSBURGH HILLTOP COMMUNITY REVITALIZATION PROJECT




                                                                              at an affordable cost…
                                                                              The houses in the Hilltop Initiative are priced to make
                                                                              homeownership affordable and to encourage participation
                                                                              in the revitalization of the Beltzhoover neighborhood.

                                                                              Base prices with standard finishes start as low as $122,000.
                                                                              At that level, the base price is already much less than the
                                                                              cost of the house.

                                                                              But, on top of that, for qualified buyers, a special financing
                                                                              structure can reduce the amount financed through a
                                                                              conventional first mortgage by as much as $50,000 so that
                                                                              monthly mortgage payments can be kept very low.

                                                                              Based on the special financing that’s available, individuals
                                                                              and households with incomes in the range of the mid-
                                                                              twenties or more can qualify for a favorable 1st and 2nd
                                                                              mortgage financing package that could add up to monthly
                                                                              mortgage payments of about $500 - or maybe even less
                                                                              depending on the circumstances of each buyer.

                                                                              Then, finally, extensive tax breaks, durable building
own a really good house…                                                      materials, construction quality, and built-in energy
                                                                              efficiency all contribute to impressive savings in basic
The Hilltop houses have been designed by award-winning                        ownership, maintenance, and occupancy costs.
architects and they are being built by a highly respected
contractor. Major features of design and construction include:

  •   traditional architectural style with a welcoming front porch,           now is the time…
  •   comfortable flexible floor plans that satisfy functional needs,
  •   strong street presence with attractive and ample landscaping,           All eight houses in the first phase of the Hilltop Housing
  •   quality house materials and workmanship,                                Initiative will be available for occupancy in the late
  •   very high energy efficiency, and                                        Summer and early Fall of 2005.
  •   pleasing interior finishes.

And each home will be sold with a one-year contractor’s
warranty.
                                                                              so it’s all up to you…




                                                              HILLTOP HOUSING VENTURES
    HILLTOP                                       HOUSING                                        INITIATIVE
                                               A SOUTH PITTSBURGH HILLTOP COMMUNITY REVITALIZATION PROJECT



UNIT TYPE “A”

Two stories plus a full basement and a traditional front
porch on a fully landscaped individual lot with a detached
one-car garage at the rear.

•   vinyl siding with painted composition house trim
•   painted wood porch
•   living/dining great room
•   three bedrooms
•   one full bathroom, plus powder room on 1st floor
•   central heating and air conditioning
•   energy efficient design
•   internet and cable ready
•   alarmed security system (with monitoring capability)
•   wood kitchen cabinets in a range of styles and finishes
•   dishwasher, disposal, range hood provided
•   fully carpeted (with vinyl tile at kitchens and bathrooms)
•   amply landscaped




Unit Type “A” is offered at
Lots # 1, 2, 4, 6, 7, 8 with minor
house-to-house variations.


Basement Size .................... 576 square feet
1st Floor Size....................... 576 square feet
2nd Floor Size...................... 576 square feet

Total Area........................1,728 square feet




Note: Lot 8 house provides a parking pad and back patio
area instead of a detached garage. Lot 1, 2, and 8 houses                          First Floor               Second Floor
offer walk-out basements with at-grade access. The Lot 7
house has a privacy wall on one side.


                                                                HILLTOP HOUSING VENTURES
    HILLTOP                                        HOUSING                                     INITIATIVE
                                               A SOUTH PITTSBURGH HILLTOP COMMUNITY REVITALIZATION PROJECT



UNIT TYPE “B”

Two stories plus a full basement with a bay projection on
one side and a traditional front porch on a fully landscaped
individual lot with a detached one-car garage at the rear.

•   vinyl siding with painted composition house trim
•   painted wood porch
•   living/dining great room
•   three bedrooms
•   one full bathroom, plus powder room on 1st floor
•   central heating and air conditioning
•   energy efficient design
•   internet and cable ready
•   alarmed security system (with monitoring capability)
•   wood kitchen cabinets in a range of styles and finishes
•   dishwasher, disposal, range hood provided
•   fully carpeted (with vinyl tile at kitchens and bathrooms)
•   amply landscaped




Unit Type “B” is offered at
Lots # 3 and 5 with minor
house-to-house variations.


Basement Size .................... 662 square feet
1st Floor Size....................... 662 square feet
2nd Floor Size...................... 662 square feet

Total Area........................1,986 square feet




Note: Lot #3 house provides a walk-out basement with
at-grade rear access and is located on its lot so that the          First Floor                              Second Floor
long length of the house faces the front street.

                                                                HILLTOP HOUSING VENTURES
    HILLTOP                                         HOUSING                                        INITIATIVE
                                                A SOUTH PITTSBURGH HILLTOP COMMUNITY REVITALIZATION PROJECT




why you should buy…                                                                  meet the development team…
Simply because the package is too good to pass up.                                    The Hilltop Housing Initiative is sponsored by the Beltzhoover
                                                                                     Citizens Community Development Corporation with the support
                                                                                     of the Allentown Civic Association and it is being carried out by
•   a convenient location
                                                                                     Jaxon Development Company and the South Side Local
•   a neighborhood that is improving                                                 Development Company through its affiliate, Neighborhood
•   a $10,000,000 investment into the area                                           Development Ventures.
•   a well designed, efficiently sized house
•   quality features and finishes                                                    Phase 1 PROJECT TEAM
•   good curb appeal
                                                                                     Sponsorship:
•   highly attractive financing and tax advantages                                   Beltzhoover Citizens Community Development Corporation
•   modest maintenance requirements
•   low utility costs                                                                Development:
•   attentive construction with contractor’s warranty                                Jaxon Development Company
                                                                                     Neighborhood Development Ventures
•   a responsive and responsible development team
                                                                                     Design:
                                                                                     Perkins Eastman Architects
think about it, then call…
                                                                                     Construction:
                                                                                     Waller Corporation
                        Jennifer Cash-Wade
                         Northwood Realty                                            Sales:
                          412.367.3200 x124                                          Northwood Realty – Jennifer Cash-Wade
                        cashwadej@aol.com
                                                                                     Funding Support:
                                                                                     Urban Redevelopment Authority of Pittsburgh
                                                                                     Pennsylvania Housing Finance Agency
   Hilltop Housing Ventures does not discriminate in the development or the          Dollar Bank FSB
sale of houses built as a part of the Hilltop Housing Initiative and the             Mellon Bank
interest and qualifications of all prospective contractors, employees, or            PNC Bank
homebuyers shall be considered fairly without regard to race, color, religious       Pittsburgh Partnership for Neighborhood Development
creed, handicap, ancestry, national origin, age, or sex.                             Local Initiatives Support Corporation


                                                                     HILLTOP HOUSING VENTURES
  HILLTOP                                                    HOUSING                                               INITIATIVE
                                                        A SOUTH PITTSBURGH HILLTOP COMMUNITY REVITALIZATION PROJECT




                                                                                     FACT SHEET
                                                                                     June 15, 2005

      FACT SHEET information is summary in nature and is subject to change without notice. Please confirm any matter of interest and discuss details with the Hilltop Housing
                                                                       Initiative’s sales representative.




CURRENT TIMETABLE                                                                               BASE PRICE SCHEDULE
unit 1 ........................................................ October, 2005                   unit 1 .................................................................. $127,500
unit 2 ........................................................ October, 2005                   unit 2 .................................................................. $127,500
unit 3 ........................................................ October, 2005                   unit 3 .................................................................. $138,000
unit 4 .................................................... September, 2005                     unit 4 .................................................................. $132,000
unit 5 .................................................... September, 2005                     unit 5 .................................................................. $133,500
unit 6 ...........................................................August, 2005                  unit 6 .................................................................. $126,500
unit 7 ...........................................................August, 2005                  unit 7 .................................................................. $127,000
unit 8 .................................................................July, 2005              unit 8 .................................................................. $122,000



1ST MORTGAGE FINANCING                                                                          REAL ESTATE TAX ABATEMENTS
Each homebuyer is responsible for obtaining mortgage
financing in an amount, on terms, and from a source as he                                       Each property is pre-qualified for property tax abatements
or she may deem to be acceptable. Reflecting the location                                       as authorized by City, School, and County policies in effect
of the Hilltop Houses, below-market mortgages may be                                            at the time of closing. At this time, County taxes on the
available from some lending institutions. When shopping                                         assessed value of new construction are abated for a two-
for mortgage financing, be sure to ask about this.                                              year period and City and School taxes on assessed value of
                                                                                                new construction are abated for a three-year period.
DEFERRED 2ND MORTGAGE PROGRAM                                                                   During the abatement period, property taxes continue to
                                                                                                be payable on the assessed value of the land that is sold
Contingent deferred payment 2nd mortgages will be                                               with each home.
available to a limited number of qualified buyers through
the Urban Redevelopment Authority of Pittsburgh’s                                               KEYSTONE OPPORTUNITY ZONE
Neighborhood Housing Program.                                                                   TAX BENEFITS
Buyers in four-person households with household incomes
of less than $44,300 will qualify for up to $50,000. Buyers                                     Buyers of all units (except #8) are pre-qualified for
with incomes between $44,300 and $55,350 will qualify for                                       participation in tax benefits available through the
up to $45,000. And buyers at incomes between $55,350                                            Commonwealth of Pennsylvania’s Keystone Opportunity
and $63,650 will qualify for up to $28,100. Other limits                                        Zone Program. Each homeowner must make an annual
apply to different household sizes.                                                             application in order to claim the benefits. For individual
                                                                                                homebuyers, the benefits include an abatement of local and
                                                                                                state income taxes until 2010.



                                                                                HILLTOP HOUSING VENTURES