From the press release:
URA closes $ 500,000 loan to bring music back to James Street, East Allegheny
PITTSBURGH, PA (Oct. 11, 2021) The Urban Redevelopment Authority of Pittsburgh (URA) has loaned $ 500,000 to 422 Foreland LLC, the owner of the former James Street Gastropub and Speakeasy on Foreland and James Streets to the east, completed Allegheny neighborhood. They bought the property in 2018 and are investing over $ 5 million in total to revitalize the property, and the URA’s Pittsburgh Business Fund loan will help fill funding gaps due to the pandemic.
The 123-year-old, 18,700-square-foot building used to serve as the neighborhood meeting place, drawing music lovers from all over the world to enjoy the historic structure from the Prohibition era and live jazz and other music. The renovation will create a mixed-use commercial building with a restaurant, office space, apartment and the return of jazz.
“This is a historic property that has been transformed into a place where music lovers can listen to good live music and build a community,” said Mayor William Peduto. “When James Street closed, it was clear to the community that they wanted music to return and we promised to make it happen. I would like to thank Jonathan Iams and his team and the URA for helping to deliver on that promise and bring jazz back to James and Foreland. “
Renovations are currently underway and the owner, Jonathan Iams, anticipates occupancy in February 2022. They have worked closely with the Northside Leadership Conference and East Allegheny Community Council and the project aims to create professions, hospitality and the historic building Bring community property to life and bring community life back into the building.
“The James Street Tavern has been the home of jazz in Pittsburgh for more than half a century,” said owner Jonathan Iams. “I am pleased that the building is thriving again as a place for the community to enjoy good food, music and art in an architecturally significant building.”
URA also assisted new owners in applying for Corporate Zone (EZ) tax credits, an incentive program that grants companies tax credits that invest in property improvements such as rehab, expansion, or physical improvements to buildings or land that result in jobs created in designated areas.