MVI's mixed-use Charleroi building set for solar power, commercial upgrades
MVI’s 5th Street Place is an L-shaped building that includes MVI’s office space on McKean Ave., affordable senior apartments on the top two floors, and additional commercial space on 5th St.
MVI is pleased to announce two major investments at 5th Street Place, MVI's mixed-use building in the heart of downtown Charleroi. The site is home to MVI’s Mid-Mon office as well as affordable senior apartments. The funding for these projects marks a significant step forward in strengthening both the building and surrounding community.
Main Street Matters Funding
In May, MVI was awarded $107,562 through Pennsylvania’s Main Street Matters grant program to fund renovations of a second commercial unit in the building and improve climate control in the senior living units.
The rehabilitation of its vacant commercial space hopes to attract a business tenant with a ready-to-use interior at an affordable price, bringing much-desired occupancy to the heart of Charleroi’s commercial district. The improved space will sit around the corner from MVI’s Charleroi office on McKean Ave. Improvements to the senior apartments include improved climate control units as well as upgrades to the existing elevator.
The Main Street Matters funding is matched 50% by part of a grant from the Hillman Foundation, and covers the remaining gap needed to move the project forward. The project was also strongly supported by state and local officials, as well as various local stakeholders who partner with MVI in Charleroi.
Rooftop Solar Array Bid Accepted
Exterior of MVI’s Mid-Mon satellite office at 435 McKean Ave., Charleroi.
MVI recently accepted a bid from Energy Independent Solutions, LLC (EIS) to install a 24.999kWDC solar system on the roof of 5th Street Place apartments. EIS estimates the array will offset approximately 35% of the entire building’s electric power consumption every month. The system is planned to become operational in July of 2027.
This project is made possible by three generous grants from the Scott Foundation Inc., West Penn Energy Fund, and the Washington Financial Charitable Foundation. MVI also hopes to recoup approximately 40% of the project’s costs via federal tax incentives. The project will introduce cost savings for both MVI and our tenants.
Together, these two projects reflect MVI's continued commitment to revitalizing the Mon Valley region through thoughtful, sustainable investment in the buildings that anchor Mon Valley communities. MVI extends its gratitude to the Pennsylvania Main Street Matters program, the Hillman Foundation, the Scott Foundation Inc, the West Penn Energy Fund, and the Washington Financial Charitable Foundation for their generous support, as well as to the state and local officials and community stakeholders whose partnership continues to make projects like these possible.
For more information about MVI’s 5th Street Place or other real estate development projects, click here.