Pittsburgh URA announces new businesses helped, including cafe, event planning company, smoothie bar

The Urban Redevelopment Authority of Pittsburgh on Thursday announced that its first URA Ventures Pilot has closed on its first batch of Main Street investments, including a cafe, an event planning company and a pressed juice and smoothie bar.

The program, which the URA announced in March, aims to encourage minority entrepreneurship through financial assistance for such businesses.

“The Venture Pilot is the type of program we need to address the inequities in the business community when it comes to access to capital for MWBE companies,” Mayor Ed Gainey said, referring to minority and women-owned business enterprises.

URA Ventures is an early-stage, diversity-focused fund that seeks to invest in businesses owned by minorities or women in the city.

The program aims to make strategic investments in those business, accelerating access and availability of capital to historically disadvantaged small businesses. The program, URA officials said, hopes to create quality jobs and spur economic growth.

Main Street Ventures, part of the URA Ventures Pilot program, provides revenue-based investment in the startup and growth of local small business that serve Pittsburgh neighborhoods.

“These businesses and what they are doing for their communities align with the mission of the Ventures program as well as the URA’s work,” URA Deputy Executive Director Susheela Nemani-Stanger said. “We are looking forward to helping these passionate and creative entrepreneurs advance their companies.”

The new businesses in this group include Hazelwood Cafe, Blanket & Board and Live Fresh Pressed Juice + Smoothie Bar.

• Hazelwood Cafe, located on Second Avenue, is a coffee shop specializing in African coffee and its history.

• Blanket & Board is an event planning company that offers pop-up, luxury picnics throughout the city. Their services include charcuterie boxes, picnic setups and catering for private events.

• With locations in Homestead and Northside, Live Fresh Cold Pressed Juice + Smoothie Bar serves all natural cold press juices, fresh fruit smoothies and acai and smoothie bowls.

“I’m excited to see the Ventures program moving forward,” said R. Daniel Lavelle, vice chair of the URA board and a Pittsburgh City Council member. “The program is designed to provide numerous benefits including wealth building and economic stability opportunities in communities where it is needed the most, particularly in Avenues of Hope corridors.”

The URA received more than 100 applications for the program, according to Chief Strategy Officer Tom Link.

Lavelle said that the demand for the program highlighted “the fact that there’s clearly a need here.” He urged those in the private sector and banking and philanthropic organizations to partner with the URA to expand the initiative.

Link estimated the program will be able to support about 25 to 30 businesses.