PITTSBURGH | Development Rundown II

[AaronPGH]

Praise the flying spaghetti monster that the years and years of band-aid solutions to transit are over. What a huge relief knowing that we won't have to deal with the BS begging for money from PAT every single year. Hopefully some serious amount of service can now be restored and some good restructuring can happen. Bring on the airport rapid and return of the UV loop especially!

[BrianTH]

Tons of interesting data here:

http://www.clevelandfed.org/research/commentary/2013/2013-18.cfm

The big takeaway is that from 1980 to 2010, not only did the Pittsburgh MSA make huge gains in educational achievement in general, but the core area in particular outpaced the MSA average (and if you have ever followed Chris Briem on this subject, you know there are more gains basically baked in the cake as a result of future cohort replacement).

Again, all this helps explain why new higher-rent apartments in the core area never have trouble finding tenants.

[BrianTH]

Originally Posted by AaronPGH

Hopefully some serious amount of service can now be restored and some good restructuring can happen. Bring on the airport rapid and return of the UV loop especially!

Note the new revenues scale up over several years, so I wouldn't expect a lot of immediate changes (not to rain on the parade).

[Steel City Scotty]

Originally Posted by themaguffin

I'm going to digress for a moment (not that is rare for me), but upon reading high praise for some time, I watched a movie on cable that I might not have otherwise. The Perks of Being a Wallflower. I had seen the commercials and know it was filmed in Pgh, but didn't know much else, but was surprised by the praise.

I'm assuming some of you might have seen it, but I will say that overall well done and a good film for that genre (coming of age, high school) and it being set in the early 90s was the same time as me, though it's time period only matters to a point. Above average acting and characters, though that said, still some moments that were cliché or cringe worthy and nice to see something actually set in Pittsburgh, not just filmed in the area.

In fact, if you even saw the ads, a key scene involves the Ft Pitt tunnel.

I really enjoyed "The Perks of Being a Wallflower." I first saw the trailer on YouTube several months before the film came out, and after noticing Pittsburgh in the background of several scenes, I became interested in learning more.

I then checked the book out of my local library and read it in anticipation of the film, which I actually had to watch during one of my trips to Pittsburgh because it never came to any theaters in my rural part of the state.

At first, I thought it was another one of those "outcast/loser overcomes his obstacles to fulfill his dreams" type movies, which have a great message but have been overdone so much to the point of being cliche. But, it's actually much deeper and more complex than that.

Here is a link to the trailer for anyone who isn't familiar with the plot:
http://www.youtube.com/watch?v=n5rh7O4IDc0

[DBR96A]

Originally Posted by BrianTH

Looks like it is going to pass!

http://www.pennlive.com/midstate/index.s...ennsylvania_house_re.html#incart_m-rpt-1

Thank goodness.

Edit:

PG:

http://www.post-gazette.com/local/2013/1...transportation-bill/stories/201311190149

TR:

http://triblive.com/news/adminpage/5100872-74/transportation-approved-senate#axzz2l3oUljAh

Sweet! Now it's time to upgrade the Parkways East and West, and extend the T to the east!

[BrianTH]

Speaking of inner-ring, urban-form suburbs (although in this case not a distressed one), Aspinwall has broken ground on their new riverfront park:

http://www.popcitymedia.com/devnews/aspinwall112013.aspx

http://www.aspinwallriverfrontpark.org/

It will be tucked around the railroad bridge with a lot of cool amenities. Here is a link to a future park map (I'd hotlink it but it is a very big jpg):

http://www.aspinwallriverfrontpark.org/wp-content/uploads/2012/07/aspinwall-park-map.jpg

Personally, I think the bridge itself (including the stone supports) is already a very interesting feature, and they plan to use the eastern branch for an elevated trail and river overlook:













If they also do what they are planning with the Heth's Run area on the Pittsburgh side, the riverfront on both sides of the Highland Park Bridge is going to have become a lot more attractive and functional.

[AaronPGH]

Originally Posted by BrianTH

Note the new revenues scale up over several years, so I wouldn't expect a lot of immediate changes (not to rain on the parade).

I can be patient.

[Evergrey]

Originally Posted by BrianTH

Tons of interesting data here:

http://www.clevelandfed.org/research/commentary/2013/2013-18.cfm

The big takeaway is that from 1980 to 2010, not only did the Pittsburgh MSA make huge gains in educational achievement in general, but the core area in particular outpaced the MSA average (and if you have ever followed Chris Briem on this subject, you know there are more gains basically baked in the cake as a result of future cohort replacement).

Again, all this helps explain why new higher-rent apartments in the core area never have trouble finding tenants.

Pittsburgh is a stark contrast to neighboring Cleveland:

Cleveland’s BA attainment rate close to the central business district is very low. Cleveland remains a metropolitan area where the skilled workers reside primarily outside the urban core.

[Steel City Scotty]

That riverfront park in Aspinwall sounds like a great idea.

A few months ago, I started a discussion about "North Hills vs. South Hills" on these boards because when my wife and I move to suburban Pittsburgh in a few years, I wanted to hear arguments about which side of the city we should settle in.

I don't remember who it was, but one of you said something along the lines of, "Forget Sewickley or Mt. Lebanon, Aspinwall has become one of the best suburbs right outside of the city. That's where I would move."

I've still never actually visited the town, but since that comment, it's been put on my radar.

[BrianTH]

Originally Posted by Evergrey

Pittsburgh is a stark contrast to neighboring Cleveland

Indeed, and I think this sort of difference could have a large influence on development patterns in coming years and decades, which in turn could reinforce those differences, and so on.

[BrianTH]

Originally Posted by Steel City Scotty

I don't remember who it was, but one of you said something along the lines of, "Forget Sewickley or Mt. Lebanon, Aspinwall has become one of the best suburbs right outside of the city. That's where I would move."

The basic pitch for Aspinwall is if you like the walkable, centrally-located, historic neighborhoods that you can find in the City's nicer parts, but want to be in one of the best school districts in the state, Aspinwall is a great choice. And it is only getting better (but also more expensive).

[Evergrey]

http://www.bizjournals.com/pittsburgh/bl...nceville-project-switches-to-rental.html

Nov 20, 2013, 10:01am EST

Lawrenceville townhouse project now rental

A new 36-unit townhouse project on a former cemetery property in Lawrenceville has switched from for sale to rental.

Last year, Martin Gillespie bought an undeveloped 2.6 acre property in central Lawrenceville from the Catholic Cemeteries Association of the Diocese of Pittsburgh, when he was still a principal of Heartland Homes, then the region’s second largest home builder before it was bought a few months later by NVR Inc., the operator of Ryan Homes.

Yet now, Gillespie tells me he is pursuing the project on his own and has decided to rent the townhouses once their built rather than sell them.

“That’s just a strong area for the market demand,” said Gillespie, describing it as a “small project.”

Construction on the project is still not expected to start until the third quarter of next year, Gillespie told me.

“They’ll be upper end town homes for rent,” he added.

...

[BrianTH]

Another consequence of all these population trends in the core area we have been discussing, plus some general rent-versus-own trends fueled in part by lessons-learned from the housing bust (despite their dubious applicability to Pittsburgh in particular) is that we will likely see a lot of these switches from ownership to rental.

[DKNewYork]

I was in Pittsburgh on Monday for a meeting at which the Penn Lincoln situation was discussed. Turns out that Wilkinsburg and PHLF realized earlier this year that the building would never attract any interest from developers due to the cost of renovation, which continued to skyrocket as the building deteriorated further. Demolition has been delayed because the owner could not afford the required asbestos remediation. To jumpstart the project, the county has offered to fund the remediation and that will commence shortly. Demolition funds are already in hand. The owner, a Wilkinsburg religious group, had been given an emergency stabilization loan from PHLF years ago in hopes of saving the hotel until a developer would take on the renovation. That loan will be forgiven in return for Landmarks having control over the design of the building. The new construction is expected to be lower scale (probably three or four stories), will complement the proposed historic district and is expected to be residential with first floor retail. The footprint of the new project will include the parking lot behind the existing building. Apparently two developers have already talked to PHLF about the project. So my take is that the issue has not been Wilkinsburg but rather that specific challenges of the Penn-Lincoln Hotel, which is encouraging.

While downtown, I saw that the replacement first floor façade on the Thompson Building (on Market Street where the specialty food market will be located) is complete. The original first floor terra cotta had been removed years ago. Matching older terra cotta is always problematic but the Thompson Building's first floor looks really good. The new façade---not sure if it is terra cotta or some other material---is a nearly perfect match to the original terra cotta on the second through fourth floors.

[Evergrey]

http://www.post-gazette.com/local/2013/1...ont-light-rail-stop/stories/201311200133

Developer negotiating to build apartments, parking garage near Dormont light rail stop


A developer is expected to begin negotiations with Port Authority next month for a $39.8 million, five-story apartment building and parking garage at the park-n-ride lot adjacent to the Dormont Junction Light Rail Transit station.

An authority committee today approved a one-year exclusive negotiating period with Fore Property Co., a national real estate developer based in Washington, D.C., and Las Vegas, Nev., on a lease agreement for the site, part of which is owned by Dormont Borough. The project would include an estimated $10 million in public funding, to be used toward construction of a 500-space garage.

...

[Private Dick]

Originally Posted by Evergrey

Pittsburgh is a stark contrast to neighboring Cleveland:

And that stark contrast of educational attainment level close to the core has very much to do with the stark demographic contrasts between Pittsburgh and Cleveland. Namely, Cleveland's Black and Hispanic populations are significantly higher than Pittsburgh's.

[Evergrey]

Originally Posted by Private Dick

And that stark contrast of educational attainment level close to the core has very much to do with the stark demographic contrasts between Pittsburgh and Cleveland. Namely, Cleveland's Black and Hispanic populations are significantly higher than Pittsburgh's.

That's an easy excuse, but not the whole story.

Other cities with significantly larger Black and Hispanic populations have experienced educational gains in their cores. Cincinnati, for example, is a core city that is nearly 50% Black like Cleveland... yet Cincinnati saw a trend similar to Pittsburgh.



http://www.clevelandfed.org/research/commentary/2013/2013-18.cfm

[Private Dick]

^ I agree that it's certainly not the whole story, but it's a big part of it historically. Cleveland has probably had one of the least educated core areas in the nation over the past 30-40 years... owing to demographics and presence of heavy manufacturing persisting in the core area over that time.

I think closer looks really have to be taken at any city in this type of data comparison, rather than to simply say, this city is doing a much better job of attracting educated people back to its urban core than that city. And I'm not suggesting that you are saying that either.

[BrianTH]

Originally Posted by DKNewYork

The new construction is expected to be lower scale (probably three or four stories), will complement the proposed historic district and is expected to be residential with first floor retail. The footprint of the new project will include the parking lot behind the existing building. Apparently two developers have already talked to PHLF about the project.

That sounds great. People are sometimes surprised to hear this, but there is robust demand for rental properties in Wilkinsburg, and if this was a success I would hope to see a lot more new residential development in and around the commercial area/Busway.

[photoLith]

I just created a facebook page about two weeks about Western PA history. Please like it, thank you. I think most of you would enjoy it.

https://www.facebook.com/westernpahistory?ref=hl

/shameless marketing.