InvestPGH Closes on $200,000 Loan to Support Activation of Historic Downtown Building by Taglyz II LLC

InvestPGH Closes on $200,000 Loan to Support Activation of Historic Downtown Building by Taglyz II LLC

Pittsburgh, PA - The City of Pittsburgh and Urban Redevelopment Authority of Pittsburgh (URA) today announced the closing of a $200,000 loan from InvestPGH, the URA's partner Community Development Financial Institution, to Taglyz II LLC. This investment supports the continued redevelopment and activation of the historic Hefren Tillotson Building in Downtown Pittsburgh.

Taglyz II LLC, an affiliate of TGY Investment Group, is leading a multi-phase effort to restore the underutilized building at 308 7th Avenue into a vibrant, mixed-use space centered on arts, culture, and creative enterprise.

"We build vibrancy in Downtown through partnerships, investment and new ideas," said Pittsburgh Mayor Corey O'Connor. "Taglyz II LLC is transforming an historic building into a space for art, design, culture and opportunities and investing in Downtown's revitalization."

The InvestPGH Accelerating Business Expansion Loan will fund building improvements, including upgrading the HVAC control system, replacing the second-floor HVAC system, and renovations to prepare the first floor for new tenants. These improvements will help position the building for increased occupancy and long-term sustainability.

Originally an iconic Downtown property, the Hefren-Tillotson Building was fully vacant for several years prior to its acquisition by Taglyz II LLC in early 2025. Since then, the development team has transformed the basement into a recording and podcast studio. The next phase will bring 21 artist studios and a public-facing gallery to the first and second floors through a partnership with Radiant Hall, a Pittsburgh-based nonprofit that provides affordable studio space for working artists, and the Pittsburgh Downtown Partnership. Ground-floor activation is anticipated ahead of the 2026 NFL Draft, creating a dynamic, street-level presence during a major moment for the city.

"We acquired the property with a clear objective: to restore the building as an active, community-oriented hub through a deliberate, multi-phase activation strategy that prioritizes cultural use, public engagement, and long-term economic sustainability," said Yang Zhang, owner of Taglyz.

Future plans for the upper floors include attracting a market-rate office tenant in the design, architecture, or creative professional sectors, further reinforcing the building's new identity as a center for arts and design.

"This investment reflects a broader strategy to revitalize Downtown's historic, architecturally significant assets into housing and mixed-used developments," said URA Executive Director Susheela Nemani-Stanger. "I'm encouraged that InvestPGH's support will help to re-energize a key property in a highly visible location, surrounded by other catalytic projects including the Triangle Building/Ivy Residences, the 421 Seventh Avenue Apartments conversion, and the 901-903 Liberty Avenue adaptive reuse currently under construction. These projects have all been backed by investments from the URA, and some with additional support from the Commonwealth of Pennsylvania, to expand housing options and vibrancy Downtown."

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