After many years of economic down slide, Rankin officials believe their borough's path to happier days lies in the redevelopment of the former Carrie Furnace site.

Much like the Waterfront shopping and entertainment center, which once stood as the ruins of the former Homestead Works of U.S. Steel, people in Rankin hope that the redevelopment of Carrie Furnace -- a 137-acre swath of riverfront the borough shares with Swissvale -- will bring a much needed employment and revenue stream into the borough.

But on a sunny Thursday morning last week, Rankin officials were joined by Allegheny County Chief Executive Dan Onorato, to launch a key aspect of economic development that they said should go hand-in-hand with their plans for Carrie Furnace -- neighborhood housing redevelopment.

"We don't want to make the mistake we made eight years ago with the Waterfront when we redeveloped the site, but we didn't go into the neighborhoods," said Mr. Onorato. He officially launched two housing development projects in the borough, estimated to cost more than $7.7 million.

Both projects, which consist of the addition of four new, single-family, detached houses and the renovation of 90 units in the eight-building Palisades Plaza on Fourth Avenue, are a joint effort by the county, the Mon Valley Initiative, and the Allegheny Housing Rehabilitation Corp.

"This is a great day for Rankin," Mr. Onorato told a crowd of about 40 residents, borough and county officials who gathered in front of the Palisades housing complex on Fourth Avenue.

Noting that one of his campaign promises when he initially sought the county executive office was "to bring the power of county government into neighborhoods," Mr. Onorato said the county sought "creative ways" of funding the project from the state and federal government.

Allegheny County provided $627, 000 in Housing & Urban Development HOME funds and Community Development Block Grants, including $15, 000 for soft second mortgages to the Mon Valley Initiative.

The Mon Valley Initiative, which supports 12 community development corporations in three southwestern Pennsylvania counties, will build four new houses in Rankin as part of its "Corners at Fifth II" project.

In 2005, the nonprofit agency built eight houses in Rankin, in addition to its ongoing projects in Braddock and North Braddock. The group is building three three-bedroom houses and one four-bedroom house, which will all be priced between $57, 000 and $62,000.

"Our goal is to take a holistic approach to community and neighborhood redevelopment," said Laura Zinski, Mon Valley Initiative chief executive officer. The future for neighborhoods in communities like Rankin lies in the ability of "comprehensive partnerships," Ms. Zinski said.

Lara Washington Thomas, president of the Allegheny Housing Rehabilitation Corp., said that her company together with Ralph A. Falbo Inc., is renovating 90 units in the Palisades Plaza to add more amenities and make the apartments more energy-efficient.

That will see the more than 40-year-old orange housing complex get air-conditioning, dishwashers, kitchen utilities, and internet access in all of its units.

The new and improved Palisades Plaza will feature more green spaces and a tot lot, where families within the complex can gather, Ms. Thomas said.

"But more than the structural bricks and mortar," she added, "we are pleased to create a fund that will provide supportive services for our residents for the next 15 years."

Ms. Thomas said that through her company's partnership with the Rankin Christian Center, each family in the new Palisades Plaza will have a caseworker assigned to help match it with all available resources in the community.

"This is a great day in Rankin," said William Price, borough council president. "We are excited because we have started the rebuilding of Rankin."