May Building Redevelopment Under Construction at 111 Fifth Ave

Beacon Communities is converting the 12-story May Building at 111 Fifth Ave in the Penn-Liberty Historic District into 86 apartments, 66 income-restricted. Construction began December 17, 2025, with completion expected in 2027.

Total construction cost is approximately $18.5 million. The work is the first redevelopment of the property since the 1970s. The building dates to 1908, when it housed the May Drug Company.

The rehab covers the exterior facade, building systems, and common spaces. All units get new flooring, cabinets, and counters, plus new windows throughout. Energy efficiency is expected to improve 25%. Amenities include a fitness center, community room, and resident services.

Funding includes a 9% tax credit award from PHFA and a $5 million HUD grant through the Inflation Reduction Act's Green and Resilient Retrofit Program. Other partners include the Urban Redevelopment Authority of Pittsburgh, Allegheny County, and private equity investors.