Apartment Redevelopment Project in Downtown Pittsburgh Nears Completion
Red Rocks Group is converting the 19th century building at 121 Seventh St. in downtown Pittsburgh into 40 loft-style apartments.
According to the Pittsburgh Business Times, the company is investing $10 million in the redevelopment of the 50,000-square-foot property, a former carriage manufacturing facility built just before 1900. More recently, the six-story, Beaux Arts-style building housed offices, including the Pittsburgh Cultural Trust.
Scheduled to open this fall, the Aria Cultural District Lofts will offer a mix of one- and two-bedroom units with exposed brick, timber beams and granite countertops. Amenities will include in-unit washers and dryers, stainless steel appliances, storage units on every floor and a fitness center.
Residents will also have easy access to restaurants, theaters and other North Shore attractions. The leasing process for the new units is expected to begin in June, with rents ranging from $1,500 to $2,000 per month.
“Aria will offer all the best in downtown living in Pittsburgh,” Ethan Fellheimer, managing director of the Red Rocks Group, said in a news release. “Performing arts, professional sports, fine dining and riverfront trails are just steps away.”
In other news, the Pittsburgh Tribune-Review reports that Homewood Senior Station, a 41-unit apartment building for low-income seniors 55 or older, is scheduled to open in the city’s Homewood neighborhood this month.
Oxford Development Company and S&A Homes are the developers of the $11.5 million, mixed-use project located at the corner of North Homewood Ave. and Susquehanna St. Amenities include a geothermal heating system, a public plaza, front porches and roof top decks, as well as first-floor commercial space and café, to be developed by Operation Better Block Inc.
A large part of the development, which is owned by Homewood Senior Station LP, was financed using $10M in Low Income Housing Tax Credit from the Pennsylvania Housing Finance Agency, and additional grant funding from the Urban Redevelopment Authority of Pittsburgh.
Photo credits: www.loopnet.comTags: affordable housing, Aria Cultural District Lofts, Commercial, Consumer, Conventional - Market Rate, Developers, Development, Finance/Investment, Investors, leasing, Local, Managers, mixed-use, multi-family, National, Owners, Oxford Development, Pittsburgh Lead Story, Professional, Red Rocks Group, Regional, Residential, retail, S&A Homes, Senior