PITTSBURGH | Development Rundown III

[BrianTH]

Originally Posted by bmust71

However, the Penguins are not quoted in this article so who knows

I am concerned given the current climate, they were just looking for an excuse to cancel the plan. We'll see.

[pj3000]

Originally Posted by BrianTH

I am concerned given the current climate, they were just looking for an excuse to cancel the plan. We'll see.

Yeah, it seems like a planned knee-jerk response... like they were just waiting for some URA/community BS to say "that's it, we quit".

I'm wondering if FNB got chilly feet given the economic uncertainty, and communicated as much to the Penguins. And the Penguins, not being able to close the deal once again, needed an excuse to back out while shifting the blame.

[eschaton]

Originally Posted by pj3000

Yeah, it seems like a planned knee-jerk response... like they were just waiting for some URA/community BS to say "that's it, we quit".

I'm wondering if FNB got chilly feet given the economic uncertainty, and communicated as much to the Penguins. And the Penguins, not being able to close the deal once again, needed an excuse to back out while shifting the blame.

It's a really shite time to build a major concert venue as well.

Of course, by the time construction would be over, so would COVID-19 most likely, by way of vaccine or herd immunity. Still, there will probably be a generalized recession following this.

[BenM]

Originally Posted by pj3000

I'm wondering if FNB got chilly feet given the economic uncertainty, and communicated as much to the Penguins. And the Penguins, not being able to close the deal once again, needed an excuse to back out while shifting the blame.

I suspect that played a role in this. Many companies are reassessing their need for office space because work from home policies have been effective.

In a terrible economy, Morgan Stanley CEO James Gorman appears to have found a silver lining.

“We’ve proven we can operate with effectively no footprint,” Gorman told Bloomberg Television in an interview Thursday.

The $60 billion investment bank has moved about 90 percent of its 80,000 employees to a work-from-home model, a process Gorman said had been surprisingly smooth.

“That tells you an enormous amount about where people need to be physically,” he said.

After life returns to normal, he said, he would like to see most staff return to the office, but added that it was clear the firm could operate with “much less real estate.”

[PITairport]

Looks like the FNB Tower aspect of the redevelopment is still going forward:

"Acklin: FNB deal still in place for arena site as Penguins halt development activities"

"Acklin said he had hashed out the final details on the term sheet with FNB on Monday in which the financial institution would take on a greater investment role for the project and the rest of the Hill community.

He characterized the ongoing engagement with the Hill District community as beneficial and constructive.

But Acklin also echoed Morehouse's sentiment that the Penguins are working on a schedule to get the new FNB Financial Center started with construction this year with the agreed-to expectation of opening it in 2020."

Obviously "opening it in 2020" is a typo.

https://www.bizjournals.com/pittsbur...-in-place.html

[pj3000]

So it kinda sounds like Penguins backing out of actual site development duties, ceding them to FNB... basically “contracting it out” ?

Like what they should’ve done 10 years ago...?

[eschaton]

PBT is reporting that city planning commissions will restart in June virtually. The first Planning Commission will be on June 2. ZBA will restart on June 11th. Meetings will now be held on Zoom, and streamed on YouTube Live.

I'm not sure what took the city so long, considering the URA figured this out back in March, but better late than never.

Also, Milhaus has restarted construction on Phase II of Arsenal 201. In general I expect that in the short/medium term the market for residential will be relatively stronger than commercial or retail. People still need to live somewhere even if they aren't going to the office or shopping after all.

[Austinlee]

https://www.nextpittsburgh.com/city-...rs-in-america/
Pittsburgh ranks as third best city for coffee lovers in America

“The ‘Burgh is a unique mix of East Coast and Midwest, busy coastal and slower Great Lakes. Long past are the days of steel mills, coal mines and smoky air. Today’s Pittsburgh is a modern, shining business and tech hub, alive with culture, music, championship sports and a growing café culture.

Despite residing in the same state as East Coast Philadelphia, Pittsburgh is pure workaday Midwest. It’s a town at the confluence of the Ohio, Allegheny and Monongahela rivers, so rental prices still reflect more Middle America than coastal."

[Urbanthusiat]

Walnut Capital Partners announces groundbreaking for new Oakland research tower

The firm announced today that it will start construction on its Innovation Research Tower at Fifth and Halket on Tuesday, May 26, the day after Memorial Day.

Additional coverage: A tech haven in the making? Demolition to clear the way for Oakland innovation tower

[photoLith]

There’s a whole ton of historic buildings on that parcel, oh well.

[pj3000]

Originally Posted by Austinlee

https://www.nextpittsburgh.com/city-...rs-in-america/
Pittsburgh ranks as third best city for coffee lovers in America

Well, if Apartmentguide says so, then it must be true!

Did a C-student middle school intern write this piece?

I love how the “article”:

- barely mentions any of the standout coffee shops (only Espresso a mano and Commonplace), but touts Starbucks locations, a coffee seller (not a shop), and a shop that’s not even technically in Pittsburgh and not popular

- describes Pittsburgh as a mix of busy east coast and slower midwest Great Lakes... Great Lakes?

- but then states that Pittsburgh is “pure workaday midwest”

- and that "rental prices still reflect more Middle America than coastal. A one-bedroom apartment leases for an average of $1,598 a month"... really? $1600/month for a 1-bdrm is 'middle America' pricing? And that's average rent for Pittsburgh?

- and the reference to the “days of steel mills, coal mines and smoky air” being long past is just too perfect. This is STILL getting play? It’s like they lifted text from a fluff piece written in 2007

[themaguffin]

The language of the article is ugh.

[pj3000]

And just like magic, it's back on...

What a total CF this has been from the jump. I'm pretty sure this is not the last "hiccup" we'll witness in this whole fiasco.. particularly when some of the language coming out of it sounds extremely confrontational.

URA board member Jodi Hirsh, who accused the Penguins of bullying the URA board into making its decision, “I don’t think the community’s concerns have been satisfactorily met. They haven’t been signed off on. I think that they’re acting like corporate bullies. That’s not surprising, but really disappointing given how long we’ve been trying to make this work”.

Hill District City councilman R. Daniel Lavelle, “To date, just to be clear, I’m not aware of a single dime [developer Buccini/Pollin Group] has spent with any local minority firm for anything, right. And so that’s not good at all”. And... “so that we can keep our foot on their neck to make sure that our community is explicitly benefiting”.


After a delay that upset the Penguins, board OKs preliminary plans for new FNB HQ at former arena site

https://www.post-gazette.com/busines...s/202005210161

[pj3000]

Originally Posted by photoLith

There’s a whole ton of historic buildings on that parcel, oh well.

I don't think so. I thought that block was pretty much mid-century, low-rise generic medical office buildings and surface lots.

[photoLith]

^
You’re right, I was thinking about another block, 2 blocks away on 5th. There’s one 1880s house where this will go but yeah the rest is 1950s junk.

[pj3000]

Originally Posted by photoLith

^
You’re right, I was thinking about another block, 2 blocks away on 5th. There’s one 1880s house where this will go but yeah the rest is 1950s junk.

Just looked at google streetview... that 1880s house is really nice though... too bad it will meet the wrecking ball. And it looks like 3356 and 3358 are actually old buildings that were given those awful 1980s "modernization" treatments.

https://www.google.com/maps/@40.4389...7i16384!8i8192

[themaguffin]

After a delay that upset the Penguins, board OKs preliminary plans for new FNB HQ at former arena site

Are the official specs for the building? is that the design for sure?

[BrianTH]

It is always a bummer to lose a cool old facade like that, but in this particular place, with it being so isolated, it is pretty obviously a necessary sacrifice.

[Don't Be That Guy]

Originally Posted by Urbanthusiat

Walnut Capital Partners announces groundbreaking for new Oakland research tower





Additional coverage: A tech haven in the making? Demolition to clear the way for Oakland innovation tower

It looks like a parking garage. But OPDC extorte... was gifted $290,000 so the design looks great!

Regardless of this building's design merits, which I don't think should really be of anyone concern; Oakland, Baum Center, and the Strip should be filled with buildings of this scale, but NIMBYs gotta NIMBY.

[eschaton]

Originally Posted by Don't Be That Guy

Regardless of this building's design merits, which I don't think should really be of anyone concern; Oakland, Baum Center, and the Strip should be filled with buildings of this scale, but NIMBYs gotta NIMBY.

I can never understand the tremendous power Oakland NIMBYs seem to have. I mean, like 80%+ of the population are transient students who are certainly not involved in these community organizations. Most of those who aren't are rich folks in Schenley Farms or own condo units in North Oakland pretty far away from this area. Is it maybe because turnout in Bruce Kraus's district is so low due to how many students never show up to vote for local races, which makes him beholden to these idiots?