Pittsburgh
Kimpton to Redevelop Hotel Monaco in Pittsburgh
Kimpton Hotels & Restaurants is continuing expansion of its boutique hotels throughout the U.S., announcing plans to convert a nine-story, 110-year-old Pittsburgh office building into a Hotel Monaco with JV partner PMC Property Group.
Former Cold Storage Facility in Pittsburgh will be Converted to Apartments
Sampson Morris Group is moving forward with its plans to redevelop the New Federal Cold Storage building in the Strip District into apartments. According to the Pittsburgh Business Times, the Monroeville-based developer has recently briefed the city planning commission on its proposal, which calls for 144 apartments and 158 interior parking spaces.
Seven Springs Owners Confirm Acquisition of Nearby Hidden Valley Resort
The owners of the Seven Springs Mountain Resort officially announced they have reached an agreement to purchase the Hidden Valley Resort from The Buncher Company. Terms of the transaction, effective October 1, have not been disclosed.
Gardens at Market Square Mixed-Use Project Breaks Ground in Downtown Pittsburgh
Millcraft Investments recently held a groundbreaking ceremony for The Gardens at Market Square, a $100 million office, hotel and retail complex slated to rise on Forbes Avenue, between Market Square and Wood Street.
SouthSide Works Apartments Coming as Restrictions End
In a couple of years, the SouthSide Works riverfront could welcome nearly 400 new apartments. According to the Pittsburgh Post-Gazette, three residential projects are about to break ground in this area of the city.
Pittsburgh’s Liberty Center Complex Sells for $135M
Forest City Enterprises, Inc. and its partner, Jos. L. Muscarelle, Inc. have completed the sale of the Liberty Center complex in downtown Pittsburgh’s “Golden Triangle”. A subsidiary of Starwood Capital Group of Greenwich, Conn. acquired the property for $135 million. The transaction generated net cash proceeds, at Forest City’s share, of approximately $30 million.
Village Green Joins Soffer to Develop New Apartments in Pittsburgh’s SouthSide Works
The Soffer Organization has partnered with Village Green Associates of Detroit to develop a new apartment building in the city’s SouthSide Works. The Pittsburgh Business Times reports that the structure would include between 215 and 262 one- and two-bedroom residences.
Premier Riverfront Hotel in Pittsburgh Sells for $61M
Cleveland-based Forest City Enterprises has sold the 399-room Sheraton Station Square hotel in Pittsburgh. Station Square Pittsburgh Hotel LLC, a joint venture between Boston-based Pyramid Hotel Group and an affiliate of Glenmont Capital Management, LLC of New York acquired the asset for $61 million. The Plasencia Group represented the seller in the transaction.
Buncher’s $400M Strip District Mixed-Use Development Moves Forward
The Buncher Co. is planning to proceed with its $400 million Riverfront Landing project regardless of whether it receives permission to demolish the western end of the landmark Produce Terminal Building in the Strip District.
PMC Property Group Plans to Repurpose Pittsburgh’s Clark Building into Apartments
The upper floors of the 23-story Clark Building on Liberty Avenue in downtown Pittsburgh could soon be converted into one- and two-bedroom apartments.