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PITTSBURGH COMMERCIAL REAL ESTATE

WEEK #28

Affordable housing projects gain momentum in Downtown Pittsburgh


Efforts to create more affordable housing Downtown are gaining some momentum. And in two cases they involve the conversion of older office buildings, a pressing issue in the Golden Triangle.


The Pennsylvania Housing Finance Agency has approved nearly $4.9 million in federal and state tax credits for projects on Fifth Avenue and Smithfield Street that involve 132 residential units. State Senator Wayne Fontana, D-Brookline, announced the awards Friday.



At the same time, local nonprofit developer Action Housing pitched a plan this week to convert the historic John P. Robin Civic Building Downtown into 68 units of affordable housing and several floors of office space...Read More

Developer drops Bloomfield plan for hundreds of apartments, Giant Eagle, retail spaces and parking garage


An O’Hara developer appears to have abandoned plans for a six-story apartment building and grocery in Bloomfield, eight months after the Pittsburgh Zoning Board of Adjustment rejected the relief it needed for the project.


Echo Realty’s decision came in the form of an announcement Thursday by Giant Eagle that it had reached an agreement with the developer to “transition ownership of the property” at 4401 Liberty Ave. now occupied by Community Supermarket.



“After careful consideration of the many factors contributing to the site’s redevelopment, we were pleased to come to an agreement that ensures that the Community Market continues to meet its customers’ needs without interruption,” Dan Donovan, Giant Eagle senior director of public relations, said in a statement...Read More

Lawmakers criticize Pirates' spending, competitiveness as part of PNC Park lease discussions



With the Pittsburgh Pirates’ lease at PNC Park set to expire in 2030, two state representatives are throwing the first hard and high fastballs in a bid to force the baseball team to become more competitive.


Republican legislators Tim Bonner of Mercer County and Jim Gregory of Blair County are calling on the Pirates to spend more to improve the team and to ensure taxpayers who helped fund the ballpark get a better return on their investment.


Their pitch came in response to a state Independent Fiscal Office report issued Wednesday which found that if the Pirates won just three more games each year, it would increase fan spending by $76 million...Read More

York County developer approved to build one of region's biggest new apartment developments in Monroeville


Burkentine Builders, a homebuilder based in the eastern half of Pennsylvania, has been approved to go forward with a new apartment community on a site next to a Giant Eagle and Target store in Monroeville.


The project is called Old Stone Village and is expected to total 426 apartments in seven buildings, along with a host of amenities on a site that totals nearly 54 acres, a portion of which will need to be built out by filling in 43,702 cubic yards of earth to create a large enough site.


An official for the company, which is based in Hanover, York County, did not respond for comment...Read More

Taking the field: Hazelwood Green youth sports complex ready to advance


A $10 million youth sports complex to be built at an old Hazelwood coke works site is nearly ready for prime time.


Representatives for developer Tishman Speyer briefed the Pittsburgh Planning Commission Tuesday on proposed guidelines for the project, which is being undertaken in partnership with the Richard King Mellon Foundation and the Steelers football team.



Jonathan Kamin, Tishman Speyer attorney, said approval of the guidelines should clear the way for development of the sports complex and community field at Hazelwood Green, site of the former LTV coke works...Read More

Priced out: New Harvard report highlights growing affordable housing crisis


For years, the Pittsburgh region has seen residents of communities like East Liberty and Garfield squeezed out of neighborhoods they can no longer afford to live in due to a growing affordable housing crisis.


“The most impacted people are obviously the ones pushed out or struggling with how to come up with rent every month and worried they are going to lose their homes,” said Jackie Smith, who researches housing affordability as a University of Pittsburgh sociology professor.


“But there’s also really important impacts on the larger community,” she said. “We want our neighbors to stick around and get to know them and get to watch kids grow. But that doesn’t happen in unstable neighborhoods with lots of turnover.”..Read More
In an effort to keep our clients and colleagues informed about the Pittsburgh commercial real estate market, we send out a weekly email with the top news stories that affect you. Each day we sort through various industry publications and local news sources to narrow down the top articles that matter to the Pittsburgh commercial real estate investor.
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