Pittsburgh’s Urban Redevelopment Authority has sold a dozen Hill District properties to a city-based firm that wants to build a $3.4 million development with affordable housing, restaurants and gallery space.

The URA board voted unanimously Thursday to sell the properties to the Pittsburgh-based Studio Volcy for $94,500, plus costs.

Studio Volcy’s development plans, called Rhythm Square, include gallery space, micro-restaurants, live-work space and affordable housing, according to information presented to the URA board.

The presentation did not offer details about how many affordable housing units the development would include, or how affordable they would be.

Plans include renovating two existing, vacant buildings on Centre Avenue. The former Home Improvement Warehouse and Centre Builders Supply Lumber Co. buildings will be converted into a new headquarters for Studio Volcy, with additional commercial space.

The project also received a $500,000 grant through the Federal Home Loan Bank Board.

There was no timetable for when construction might begin or how long it would take.

“This is the sort of development that the URA should be highlighting and doing all over the city,” said R. Daniel Lavelle, who sits on the URA board and represents the Hill District as a city councilman.

He said the project would provide jobs, create affordable housing and help restore one of the city’s historical African American neighborhoods.

“This is an ideal development,” Lavelle said.

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