PITTSBURGH | Development Rundown II

[chucka]

News on the Produce Terminal. The Ferchill Group should just stay in Cleveland...

http://www.post-gazette.com/local/city/2...als-for-development/stories/201403220082

Pittsburgh hurrying to get proposals for development
Short deadline to submit plans for structure in Strip
March 21, 2014 11:13 PM

By Mark Belko / Pittsburgh Post-Gazette
Faced with a six-month deadline, the city is moving quickly to find a developer interested in converting the Strip District's produce terminal into a "transformative public place" without tearing down part of it.

Pittsburgh Urban Redevelopment Authority officials this week issued a request for proposals -- and a tight deadline -- for the rehabilitation of the landmark. They are asking developers and other interested parties to respond by April 23.

The decision comes less than three weeks after Mayor Bill Peduto secured a six-month "window of time" from the Buncher Co. to talk to others about the possible redevelopment of the venerable but deteriorating 1,533-foot-long warehouse.

Buncher has an option with the URA to buy the building for $1.8 million, a deal that would have prevented the city from negotiating with other developers without the company's permission.

In the request for proposals, the authority has bumped up the asking price to at least $2.5 million, but does not say why. It also is asking each bidder to submit a $10,000 fee with its proposal, $7,500 of which would be reimbursed if the bid is not accepted.

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[GeneW]

Originally Posted by shipsterns

Was going through some old Post Gazette archives and found this delicious bit of NIMBYism from 1980:

http://news.google.com/newspapers?id=2Z5...J&dq=us-steel-building&pg=5371%2C4890072

Well Dravo -> Mellon -> BNY-Mellon Building doesn't seem out of scale now but it's still a pretty homely building.

[themaguffin]

It's weird to think of the Mellon tower as something announced in 1980, but I guess announcing, groundbreaking and building would take a couple years.

However, I assumed it was always a Mellon project.

[Private D]

Originally Posted by chucka

News on the Produce Terminal. The Ferchill Group should just stay in Cleveland...

http://www.post-gazette.com/local/city/2...als-for-development/stories/201403220082

Why? I don't get it.

So a Cleveland real estate development company that converted the abandoned and crumbling Heinz buildings via historically-accurate renovation into the successful residential lofts we know today (when no Pittsburgh firm showed any real interest) should just stay away?

Should they have stayed in Cleveland then... or when they developed the Technology Center... or the Omni Bedford Springs?

[Austinlee]

I wish we still had Dravo Corp. Wasn't that a big loss for Pittsburgh, job wise?

[Evergrey]

article on the steps of Pittsburgh

http://triblive.com/news/allegheny/5632789-74/steps-pittsburgh-sets#axzz2whRmpFMD

[chucka]

Quote from the Ferchill Group: "We're generally not huge fans of public processes to be honest with you. We like to fly under the radar."

I think Pittsburgh should move away from these types of development companies that don't want to include the community in the planning process.

Originally Posted by Private Dick

Why? I don't get it.

So a Cleveland real estate development company that converted the abandoned and crumbling Heinz buildings via historically-accurate renovation into the successful residential lofts we know today (when no Pittsburgh firm showed any real interest) should just stay away?

Should they have stayed in Cleveland then... or when they developed the Technology Center... or the Omni Bedford Springs?

[acenturi]

Originally Posted by Austinlee

I wish we still had Dravo Corp. Wasn't that a big loss for Pittsburgh, job wise?

My Grandmother and Grand Aunt both worked at Dravo during WWII - they were Rosie Riveter's. It was facinating to listen to thier stories about life in Pittsburgh during those years.

[Private D]

Originally Posted by chucka

Quote from the Ferchill Group: "We're generally not huge fans of public processes to be honest with you. We like to fly under the radar."

I think Pittsburgh should move away from these types of development companies that don't want to include the community in the planning process.

The Ferchill Company has proven itself to be a more than capable developer, here and elsewhere. I have no problem with a company wanting to fly under the radar when their track record is marked by success.

[LMich]

Ferchill did an amazing job on the restoration of the Book-Cadillac in downtown Detroit when the previous developers bailed and no one else would take up such a daunting task. Though, being as good and savy a developer as he is, saying publically that you're not a "huge fan of the public process" is most definitely an unforced error.

[Austinlee]

Originally Posted by LMich

Ferchill did an amazing job on the restoration of the Book-Cadillac in down Detroit when the previous developers bailed and no one else would take up such a daunting task. Though, being as good and savy a developer as he is, saying publically that you're not a "huge fan of the public process" is most definitely an unforced error.

Agreed. I stayed in the Westin Book Cadillac. It was super nice. Loved the restoration.

[Evergrey]

Originally Posted by Private Dick

The Ferchill Company has proven itself to be a more than capable developer, here and elsewhere. I have no problem with a company wanting to fly under the radar when their track record is marked by success.

Agreed... I can totally understand why Ferchill feels uncomfortable with this public process.

But it probably would've been best for Ferchill to just say nothing at all.

[Private D]

Originally Posted by Evergrey

Agreed... I can totally understand why Ferchill feels uncomfortable with this public process.

But it probably would've been best for Ferchill to just say nothing at all.

Yeah, it seems a clumsy statement to make... but I think there is actually a pretty direct message being sent to the City/URA.

They're definitely not newbies to this game.

They know very well that they can come in, work with the right partners, and get great results on a renovation/development project like this. But... they are not going to be put under strict time constraints and be asked to pay significantly more than a local company with ZERO experience with these types of projects... while being subjected to much political/public pressure.

There's no doubt in my mind that Ferchill is seriously interested in the Strip, and as you said, they want the process to be as comfortable for them as they can make it.

[markson33]

I'm upset with the "public process" as its being proposed.

No developer wants to jump through hoops just to make a pitch, and the city should be encouraging developers to participate... not creating a disincentive to competition.

To me this seems like the city has a preferred developer in mind and is telling the others to take a hike. I was really hoping that Peduto would be different, but this is the same type of thing that Murphy or the boy wonder would do. Business as usual.

[Private D]

Originally Posted by markson33

I'm upset with the "public process" as its being proposed.

No developer wants to jump through hoops just to make a pitch, and the city should be encouraging developers to participate... not creating a disincentive to competition.

To me this seems like the city has a preferred developer in mind and is telling the others to take a hike. I was really hoping that Peduto would be different, but this is the same type of thing that Murphy or the boy wonder would do. Business as usual.

Well, we'll have to see.

Ferchill is basically saying just what you are, with different wording.

It seems it is Buncher's project to lose. The fact that local foundations are now guiding what Buncher is doing makes that a pretty clear case... which puts Peduto's administration in a very difficult situation, and really takes a lot of the power away from Grant St. and the URA in this situation... which all in all is not the worst thing in the world, and fits in with Peduto's regime change.

[themaguffin]

To me this seems like the city has a preferred developer in mind and is telling the others to take a hike. I was really hoping that Peduto would be different, but this is the same type of thing that Murphy or the boy wonder would do. Business as usual

That's kind of a leap. We don't know that.

[pghusa]

Not brick & mortar development but is great news for developing that "critical mass" Cure's Justin Severino is up to be named best in the Mid-Atlantic.

I encourage everyone to vote!

[Private D]

Originally Posted by Evergrey

article on the steps of Pittsburgh

http://triblive.com/news/allegheny/5632789-74/steps-pittsburgh-sets#axzz2whRmpFMD

Thanks for posting this, Evergrey. It has me thinking. I really feel that the steps can be more of an attraction for tourists and Pittsburghers alike.

[Evergrey]

http://www.bizjournals.com/pittsburgh/bl...nstitution-is-optimistic-pittsburgh.html

Mar 25, 2014, 12:02pm EDT

Why Brookings Institution is optimistic about Pittsburgh

"You have the ability to really situate yourself in a handful of American cities that are really in the vanguard of creating the next economy,” Katz said of Pittsburgh.

In coming to that conclusion, Katz cited the city’s platform, the strength of its leadership and its blend of universities and corporate assets. He also cited the unusual density of Pittsburgh and the anchor assets of its universities and neighborhoods, which he compared with those of a European city.

[Evergrey]

The developer of Shadyside's Bovie House house has purchased a couple key properties in East Liberty...

http://www.bizjournals.com/pittsburgh/bl...tys-next-property-to-watch.html?page=all

Mar 25, 2014, 4:30pm EDT

East Liberty's next property to watch for redevelopment

Jason Lardo leads a tour of his new property, a work in process for which he’s striving to find a balance between short-term prospects and long-term potential.

“It’s very tricky,” he said, showing off the collection of rooms, a gymnasium and a rooftop deck and play yard in a property a short walk from the East Liberty Whole Foods. “Obviously, this is not the highest and best use for the property.”

The property is the former Family Resources Inc. building, a long structure facing years deferred maintenance on Baum Boulevard that includes 53,000 square feet of space on three levels that sits on a lot of three-fourths of an acre of land.

A few weeks ago, an investment group in which Lardo is the managing partner called Baum Grove LP bought the building from Family Resources Inc. for $1.5 million after it was originally listed for $2.25 million. At the same time, Lardo's group bought the neighboring open plot from Crossgates Inc., which at one time planned to build a new condo project on the site.

Now, Lardo, who also is a principal of Monroeville-based Integrity Construction Co., is making basic improvements to the Family Resources building with the expectation of leasing it for the near future to help defray basic ownership expenses. He’s already had talks with the Beauty Shoppe tech incubator on nearby Penn Avenue about taking space in the building and is reaching out to others as he seeks to keep the building busy as a hub for office users, artists and various community activities.

At the same time, he’s been working with architect David Roth and his Downtown Design Co. on a future design to redevelop the property.

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