The latest news in the redevelopment of the Fifth-Forbes area by Millcraft Industries is that there will be no condos, according to a Pittsburgh Post-Gazette article. Instead, the developers are planning to construct apartments to capture historic tax credits.
I’m surprised that they can’t make the economics work for a downtown development with condominiums. There seem to be quite a few condo and loft complexes in the works around Pittsburgh. It also doesn’t fit in with the goal of the project: to bring people permanently downtown. Perhaps they are taking the safe road in the current housing climate.
The good news is Piatt hopes to begin construction on the project within 6 to 8 months of approval by the URA. Given the amount of time that has been spent on this project already, it’s long past time to act!
1 response so far ↓
1 PGHPA611 // Dec 29, 2006 at 10:50 pm
The secret is finally getting out, Pittsburgh is a city that has desirable amenities at an affordable cost!!! Take a look at real estate prices around the nation, in cities with proffesional sport franchises , multiple colleges and universites within the city limits , art venues and medical facilities second to none, corporations that are household names, and then you realise what a jewel Pittsburgh really is. Quality of life standards in Pittsburgh are second to none. A green city with uncongested friendly streets and neighborhoods. Mr. Rogers said it best “Its A Wonderful Day In The Neighborhood” and Pittsburgh was his neighborhood with Pittsburghers as his neighbors. Condos or apartments in Pittsburgh’s Financial District equates to a vibrant , robust city embracing a future with unlimited potetial. Visit Pitsburgh and you may make it your new home.
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