McCaffery Interests, Pitt Ohio Break Ground on 96-Unit Apartment Property
- Jan 05, 2012
McCaffery Interests and Pitt Ohio recently announced the groundbreaking of ‘Lot 24’, a 96-unit apartment residence project in the Strip District.
Lot 24′s site was formerly a surface parking space. The development will be located in the vicinity of The Cork Factory Lofts, which has also been developed by McCaffery Interests and Pitt Ohio.
According to McCaffery Interests’ official press release, the property will feature a clubroom, a terrace with a pool and a hot tub, a business center, bike storage and concierge service.
The façade of the building has been designed by Antunovich Associates of Chicago, while the interior has been managed by Susan Caruso of Intra-Spec Hospitality Design. During the construction process, Massaro Corp. will act as lead contractor. Upon completion, the multifamily property will be LEED certifiable.
“I am very happy to partner once again with McCaffery Interests. We have enjoyed a great relationship developing and owning The Cork Factory,” said Chuck Hammel. president of Pitt Ohio.
The project is being financed by The Erect Funds, the Urban Redevelopment Authority, Strategic Investment Funds, and is supported with a RACP (Redevelopment Assistance Capital Program) grant.
In other news, the Pittsburgh Business Times reported that Allegheny County announced a redevelopment plan for the former Braddock Hospital, which had been closed and demolished by the UPMC in 2010.
The $20.3 million redevelopment plan entails the repositioning of the former hospital site as mixed-use development consisting of 26,000 sq. ft. of flex office building, 24 leasable residential units, 11 single-family homes for sale and a 20,000-sq.-ft. park.
Trek Development has been chosen as a developer for the project, which is expected to break ground in fall 2012 for the rental housing construction phase, while the home construction phase is scheduled to start in spring 2013.