AHRCO was formed in 1968 as a for-profit company by Action Housing. It
was financed by forty Pittsburgh-based corporations to provide decent housing
for low and moderate-income families in western Pennsylvania. In 1975, Action
Housing sold the company to four businessmen. Milton Washington, president of
the company, later purchased the business from his partners and became the sole
stockholder of AHRCO.
With the cooperation of businesses, financial institutions, HUD and various
related housing agencies, AHRCO has been able to create affordable family and
elderly housing for 34 years. The company has used a variety of tools to create
this housing, including project development, low income housing tax credits,
mixed financing, new construction, and rehabilitation.