City Vista Apartment Community in Pittsburgh Nears Completion
- Mar 31, 2014
By Adriana Pop, Associate Editor
Construction has begun on the last building of the 272-unit City Vista apartment complex in the city’s suburban area, the Pittsburgh Business Times reports.
Developed by Oxford Properties of Atlanta, the project will feature two 64-unit and two 72-unit structures with one-, two- and three-bedroom apartment homes.
Located just one exit outside of Pittsburgh, the pet-friendly City Vista community will also feature a variety of amenities, including a health and wellness center, a business center, a media theater, a resort style swimming pool, a clubhouse and poolside with Wi-Fi access, a jogging trail, a playground and plenty of open space and picnic areas.
Richard Denny III, a partner with the company, told the newspaper that the project would provide a competitive alternative to the urban apartment market. Rents are expected to range from $935 per month for the smaller units up to $1,750 per month for the three-bedroom units.
The first building is scheduled to open by mid-May. Overall, the entire development could be complete this fall.
In other news, Greenway Realty Holdings of New Jersey has purchased the former Salvation Army building and an adjacent parking lot in downtown Pittsburgh.
According to the Pittsburgh Post-Gazette, the company paid $2.8 million to acquire the historic property, which it plans to convert into a boutique hotel with 125 to 130 rooms. Greenway Realty is also considering a residential use for the 93,000-square-foot building and expects to make a firm decision in the following months.
The purchase is the company’s first in the Pittsburgh area.
“We were thrilled by the city and intrigued by what we see as a lot of potential there. It’s a great city,” Scott Schroeder, a Greenway principal, told the newspaper.
In the past five years, two other firms have attempted to purchase the former headquarters of the Salvation Army of Western Pennsylvania, which dates back to the 1920s. In 2009, Polaris Real Estate Equities of Cleveland had an agreement to purchase the property, but eventually backed out. Later in 2011, MinSec Companies of Philadelphia planned to acquire the building, but the deal never materialized as the company was unable to complete the transaction.
Photo credits: www.apartmentguide.com