Studio Volcy’s RHYTHM Square Among Centralized Real Estate Accelerator Projects to Receive State Funding

Apr 27, 2023

On April 13th, the Pennsylvania Housing Finance Agency (PHFA) announced seven projects across Pennsylvania to be awarded $4.8 million for the construction or rehabilitation of mixed-used developments. Studio Volcy, LLC, one of our Centralized Real Estate Accelerator partners, was one of those 7 organizations! The funding will go towards the revitalization of an existing building along Centre Avenue in the Hill District. Once finished, the development will include 16,000 square feet of commercial space including retail shops, artist studios, micro-restaurants, live-work space, as well as several units of affordable-housing. The site will also feature an outdoor plaza, art installations, and more.

RHYTHM Square is all about elevating the cultural vibrancy of the Hill District and providing a space for urban living and entertainment for Hill District residents. Located along the Centre Avenue corridor in the heart of the neighborhood, the project is also meant to be a hub for minority artists and business owners.

“The vision for RHYTHM Square includes the revitalization of two existing buildings and a commitment to preserve and illuminate the Hill District’s Cultural Legacy. This project is particularly important to Hill District residents as it will create jobs, affordable housing, and support local artists and underserved cultural opportunities,” said Alicia Volcy, Founder and CEO of Studio Volcy, LLC. “I am humbled and excited for the opportunity to create a place for Black artists and entrepreneurs to thrive. RHYTHM Square will be a place where black creatives can find their rhythm and remove some of the barriers that make entrepreneurship challenging. Our mission is simple: to empower creatives to turn their passions into thriving artistic careers. With RHYTHM Square, we’re confident that we can help make that happen.”

Our Centralized Real Estate team has collaborated on this project with Alicia over the past year, helping her to leverage over $1.5 million towards the project.

Collaborating with Neighborhood Allies on this project has been a true pleasure. They have proven to be valuable partners, connecting us with the right people and identifying opportunities for synergistic collaboration. As someone who typically works independently and occasionally engages consultants for support, I have found their assistance with funding and grant applications to be an enormous asset. Their administrative efforts have been instrumental in helping us achieve our goals, allowing us to focus on what we do best – bringing our vision for RHYTHM Square to life.

Alicia Volcy, Founder and CEO of Studio Volcy, LLC

Congratulations, Alicia! We are so excited to see this project come to life!

Top Header Image Photo Credit: Prototyping Larimer Stories by artist John Peña, photo by OPA