PITTSBURGH | Development Rundown II - Page 567

SkyPittsburgh · #**11321** Posted **Feb 10, 2015, 9:21 PM**

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Walnut Capital plans to build 352 apartments at Pittsburgh Technology Center
Feb 10, 2015
By Tim Schooley
Already busy with major projects at Bakery Square 2.0 and nearby in East Liberty, Walnut Capital Partners is now pursing a 352-unit apartment development within the Pittsburgh Technology Center in South Oakland.
The plan is on the agenda for the Urban Redevelopment Authority of Pittsburgh's February meeting scheduled for Thursday.
The URA board is slated to vote to enter into exclusive negotiations to sell a 4.04-acre parcel of vacant land at the Pittsburgh Technology Center, a URA-owned office development along Second Avenue, to Walnut Capital Partners, according to the agenda for the Thursday board meeting.
Read More: http://www.bizjournals.com/pittsburgh/bl...al-plans-to-build-352-apartments-at.html

Finally, we are getting some residential development into that region of Oakland. It will be interesting to see if some of the ALMONO development pushes PTC to build out a bit more.

Evergrey · #**11322** Posted **Feb 10, 2015, 9:29 PM**

Awesome announcement... PTC and Almono really should be envisioned as an extension of South Side.

eschaton · #**11323** Posted **Feb 10, 2015, 9:29 PM**

Quote:

Originally Posted by SkyPittsburgh

Finally, we are getting some residential development into that region of Oakland. It will be interesting to see if some of the ALMONO development pushes PTC to build out a bit more.

Seems to be this lot.

I wonder what rates they'll be able to get compared to other regions of the city? That's a damn isolated area, from a walkability standpoint, though I suppose it's not that far to South Side in good weather.

BrianTH · #**11324** Posted **Feb 10, 2015, 10:22 PM**

Didn't see that coming--great news!

I'd guess with the easy biking access to Downtown and the South Side, and assuming they do nice on-site amenities, they will probably be able to charge pretty good rents.

daviderik · #**11325** Posted **Feb 11, 2015, 2:05 AM**

Plan to relocate Pittsburgh Playhouse Downtown approved; Millcraft proposes condos for Saks site
http://www.post-gazette.com/business/dev...Downtown-Pittsburgh/stories/201502100184

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Point Park intends to start construction in March with the demolition of three Forbes Avenue buildings and hopes to have the new complex ready for audiences in July 2017....

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Millcraft Investments hopes to start construction of the condos simultaneously with the construction of the garage or immediately afterwards...The condo project will consist of a mix of one, two, and three-bedroom units along with seven rooftop penthouses...the developer is looking at "workforce units," although no price points have been set...McKnight Realty Partners could switch to apartments but "right now we're going to continue down the path of condominiums."
He added there are now only 17 condos priced over $300,000 for sale Downtown, which he said was "awfully low."
The seven-story residential tower also would feature a rooftop pool and deck and fitness and business centers. Each condo would have a balcony.

Millcraft hopes to start demolition of the former Saks building and construction of the garage this spring. The garage and condo project is expected to total $60 million to $70 million.

Private Dick · #**11326** Posted **Feb 11, 2015, 2:42 AM**

Quote:

Originally Posted by Evergrey

Awesome announcement... PTC and Almono really should be envisioned as an extension of South Side.

Yes, thank you for seeing what should be obvious, rather than pushing it as part of Oakland.

Residential development on this parcel is the only good news about the PTC since its founding. Though, I wouldn't get the attraction of living behind lifeless, waterfront technical/scientific lab buildings...

BrianTH · #**11327** Posted **Feb 11, 2015, 2:44 AM**

Quote:

Originally Posted by Private Dick

Yes, thank you for seeing what should be obvious, rather than pushing it as part of Oakland.

It is not an either/or situation.

Private Dick · #**11328** Posted **Feb 11, 2015, 2:53 AM**

Unless they build gondolas up the hill over the parkway to the chip-chopped ham palace...

greg42 · #**11329** Posted **Feb 11, 2015, 4:17 AM**

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Originally Posted by eschaton

I only have one issue with a potential apartment conversion. 713 Penn lacks any side windows, which could make apartment conversion difficult. I worry that the developers will desire to cut out windows on the exposed side of the building. If they do this, it could mean the parking lot next door is locked in for the long run - or at least limited to a 1-2 story infill structure.

The parking lot is locked in for the long run regardless. Unless you think RiverParc will actually be built or some other way the Cultural Trust would actually pull their heads out of their asses over there.....

BrianTH · #**11330** Posted **Feb 11, 2015, 6:19 AM**

Quote:

Originally Posted by Private Dick

Unless they build gondolas up the hill over the parkway to the chip-chopped ham palace...

Pitt and CMU both helped develop the PTC, and both have lots of labs and offices there.

Strangely enough, it appears they figured out the existence of Bates Street.

And then there is the fact it is actually in South Oakland.

SkyPittsburgh · #**11331** Posted **Feb 11, 2015, 2:33 PM**

More information on the PTC apartments (From the PG):

http://www.post-gazette.com/business/dev...h-Technology-Center/stories/201502100198

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Walnut Capital will be seeking graduated tax abatements as part of the project. The URA stated that the integral parking will eliminate the need for a second parking garage that had been planned at the site. The developer hopes to start construction in December and have the first of two buildings open in June 2017. Each six-story building will hold about 175 units.

BrianTH · #**11332** Posted **Feb 11, 2015, 2:51 PM**

Quote:

Originally Posted by SkyPittsburgh

More information on the PTC apartments (From the PG)

Eliminating the need for another dedicated parking garage is great.

Edit: By the way, what's going on with the big parcel to the east of the Hot Metal Bridge, next to the ALMONO site, currently surface parking? I recall that was added to the SP district and was maybe supposed to be residential too.

eschaton · #**11333** Posted **Feb 11, 2015, 3:27 PM**

Quote:

Originally Posted by BrianTH

Pitt and CMU both helped develop the PTC, and both have lots of labs and offices there.

Strangely enough, it appears they figured out the existence of Bates Street.

And then there is the fact it is actually in South Oakland.

I know what you're trying to say, but Bates Street isn't what anyone would consider walkable. Even the core of South Oakland (as the city defines it - below Boulevard of the Allies) is a pretty long walk from the core Oakland amenities, though there is a little beat-down business district at the base of Semple which has potential.

IIRC, CMU had to start offering free shuttle buses to the PTC, because the area was just that isolated from everything. IMHO that's telling.

Quote:

Originally Posted by greg42

The parking lot is locked in for the long run regardless. Unless you think RiverParc will actually be built or some other way the Cultural Trust would actually pull their heads out of their asses over there.....

I spent some more time looking at the building on my walk to the bus yesterday. The old shared wall of 713 with the now demolished building where the Cultural Trust lot now stands appears to be totally tied in to 713's structure. I don't think there is any way to remove the wall without a lot of labor, and risking ruining the structural integrity of the building. For better or worse, the side wall is staying.

eschaton · #**11334** Posted **Feb 11, 2015, 3:31 PM**

Quote:

Originally Posted by BrianTH

Edit: By the way, what's going on with the big parcel to the east of the Hot Metal Bridge, next to the ALMONO site, currently surface parking? I recall that was added to the SP district and was maybe supposed to be residential too.

It's still zoned GI, from what I can see. Seems to be owned by the same company which owns the office building on the other side of the Hot Metal Bridge.

BrianTH · #**11335** Posted **Feb 11, 2015, 4:17 PM**

Quote:

Originally Posted by eschaton

I know what you're trying to say, but Bates Street isn't what anyone would consider walkable. Even the core of South Oakland (as the city defines it - below Boulevard of the Allies) is a pretty long walk from the core Oakland amenities, though there is a little beat-down business district at the base of Semple which has potential. IIRC, CMU had to start offering free shuttle buses to the PTC, because the area was just that isolated from everything. IMHO that's telling.

Oh sure. The relation between the PTC and the upper portion of Oakland is likely to continue to rely on motorized vehicles.

But I also think it is a bit of a stretch to say the South Side is really walkable from there--for example, even just the Hofbrauhaus is right around a mile from there. Because it is a largely level route that is bikeable, maybe, but only a fraction of people take biking seriously as a way to get around. So I'll bet you still see a lot of people living in the PTC relying on cars, carpooling, Uber, and such to get around.

All of which is fine. The PTC does not have perfect continuity with anywhere established (meaning holding aside the future ALMONO) site, but it is still close to lots of places. And that is what I mean by it not being an either/or situation--there is no reason not to keep talking about its proximity to all of the South Side AND Downtown AND Oakland. Because those are all relationships worth encouraging.

BrianTH · #**11336** Posted **Feb 11, 2015, 4:23 PM**

Quote:

Originally Posted by eschaton

It's still zoned GI, from what I can see. Seems to be owned by the same company which owns the office building on the other side of the Hot Metal Bridge.

This seems to suggest it was in fact added to SP-1 (see Page A4):

http://apps.pittsburghpa.gov/dcp/PittTechnoCtr.pdf

Page C2 seems to confirm high density residential was one of the contemplated uses for that area.

eschaton · #**11337** Posted **Feb 11, 2015, 4:42 PM**

Quote:

Originally Posted by BrianTH

This seems to suggest it was in fact added to SP-1 (see Page A4):

http://apps.pittsburghpa.gov/dcp/PittTechnoCtr.pdf

Page C2 seems to confirm high density residential was one of the contemplated uses for that area.

I'm just saying on Pittsburgh's own GIS map it's still shown as GI.

BrianTH · #**11338** Posted **Feb 11, 2015, 4:59 PM**

Quote:

Originally Posted by eschaton

I'm just saying on Pittsburgh's own GIS map it's still shown as GI.

I figured you were looking at something like that. It is odd to have official sources apparently contradicting each other like that, but I checked the actual municipal code and it does appear to me that the amended SP was adopted.

Austinlee · #**11339** Posted **Feb 11, 2015, 5:01 PM**

Quote:

Originally Posted by BrianTH

Pitt and CMU both helped develop the PTC, and both have lots of labs and offices there.

Strangely enough, it appears they figured out the existence of Bates Street.

And then there is the fact it is actually in South Oakland.

Quote:

Originally Posted by eschaton

I'm just saying on Pittsburgh's own GIS map it's still shown as GI.

According to http://soufoaklin.blogspot.com/ , Souf Oakland's got all the news that ain't fit for no North Oakland.

Austinlee · #**11340** Posted **Feb 11, 2015, 5:06 PM**

Quote:

Originally Posted by SkyPittsburgh

Finally, we are getting some residential development into that region of Oakland. It will be interesting to see if some of the ALMONO development pushes PTC to build out a bit more.

This really came out of the blue. I can't wait to see PTC built out. It is now very accessible to the increasing number of amenities at SS Works.

It's also a highly visible symbol of Pittsburgh for all the travelers coming in and out of the east coast on I-376E.