Milhaus gets started on 272-unit Nox project in Robinson Township

Milhaus is underway with its next project in the Pittsburgh area.

The Indianapolis-based firm announced that it has broken ground on what it is calling the Nox, a 272-unit multifamily development slated for 10 Urbano Way in Robinson Township, a shopping-dense stretch the developer is working to establish as a home for a major influx of apartment dwellers.

Milhaus announced it is underway with the project in partnership with BAM Capital, working with First Merchants Bank, which has provided a construction loan for the project...Read More

Horizon Properties to establish new Baxter's R-Cade at Southpointe Town Center

Rod Piatt is preparing to plug a new entertainment attraction into a vacant former restaurant space at Southpointe Town Center.

Look for the new Baxter's R-Cade to open In the vacant former space of Steel Cactus at 1800 Main St. this September, as Piatt, Piatt, CEO of Horizon Properties Group LLC, works to add a new amenity for the surrounding collection of offices, hotels and a neighboring apartment complex.

"We're excited about it," he said...Read More

Weaver Industrial approved for PIDA loan for 2 new buildings

Weaver Industrial Inc., which is constructing two buildings at Bushy Run Corporate Business Park in Export, was approved for a PIDA loan though the Economic Growth Connection of Westmoreland.

The 10-year, $844,680 loan at a 4.25% reset interest rate was announced by Rick Siger, secretary of the Pennsylvania Department of Community and Economic Development. Weaver Industrial, a real estate development firm, will use the loan to assist in the construction of two 12,000-square-foot, single-tenant warehouse/office buildings. The total project cost is $2,111,700, and the buildings already have prospective tenants. It is expected that 27 new, full-time jobs will be created.

In 2024, PIDA, short for Pennsylvania Industrial Development Authority, has approved $11,628,160 in low interest loans that have resulted in $20,086,789 in private investment and supported 387 created and retained full-time jobs...Read More

Community leaders introduce new vision plan for downtown

The City of Pittsburgh, Allegheny County and the Allegheny Conference on Community Development on June 5 jointly announced a new vision plan for downtown that’s designed to help convert the Golden Triangle from a commuter-focused urban office hub into more of a live-work-play destination. 

The plan calls for creating “connective corridors” downtown that will, according to a release, better utilize the region’s assets, including its rivers and iconic bridges; create “thematic connections to successful civic anchors in adjacent neighborhoods;” and encourage residential growth. 

The announcement characterized the challenges facing downtown Pittsburgh in the wake of the pandemic and the need to now focus on a long-term strategy...Read More

Tenants increasingly prioritize debt-free landlords in their search for office space

As billions are set to mature within commercial real estate-backed loans, tenants are putting extra scrutiny on prospective landlords' financial wherewithal before signing leases.

And while a preference for the newest or most-updated office towers that offer a bevy of amenities remains prevalent among tenants, so too is the appeal of leasing space from a landlord with limited or even no debt on the building.



A recent analysis by Avison Young found 52% of the nation's Class A office properties were encumbered by a distressed commercial mortgage-backed securities loan. Class A properties collectively represent 43.7% of the overall U.S. office market...Read More