Mosites Selects Morgan Management to Operate Upcoming Apartments on Pittsburgh’s Eastside; Larimer Lands $30M HUD Grant for Housing Redevelopment
- Jul 02, 2014
By Adriana Pop, Associate Editor
The Mosites Co. has formed a joint venture partnership with Morgan Management for the operation of its three apartment buildings currently under construction at the East Liberty Transportation Center, the Pittsburgh Business Times reports.
Rising in the city’s East Liberty neighborhood, on a four-acre parcel that spreads from Highland Avenue to Penn Avenue, the Eastside III mixed-use project will bring a total of 360 apartments, 40,000 square feet of retail, more than 500 parking spaces and an improved bus line station. The first apartment building is scheduled to open next year, while the remaining two will be completed at a later date.
Steve Mosites, principal of The Mosites Co., told the newspaper that Morgan would manage the residential component of the development, while Mosites would handle the leasing and management activities related to the other portions of the project.
Based in suburban Rochester, N.Y., Morgan owns and operates 14 apartment properties in western Pennsylvania.
Mosites’ other partners for the East Liberty Transportation Center include the Port Authority of Allegheny County, the city, county, state and federal government, general contractor P.J. Dick and Design Collective of Baltimore.
In other news, Pittsburgh is one of the four cities in the nation to receive a $30 million federal grant through the Choice Neighborhoods program of the U.S. Department of Housing and Urban Development (HUD) for the revitalization of blighted neighborhoods. According to the Pittsburgh Post-Gazette, the city will use the funds to develop about 350 units of mixed-income housing and mixed-use development in Larimer.
The other cities that were awarded the HUD grant are Norwalk, Conn., Columbus, Ohio, and Philadelphia.
“HUD’s Choice Neighborhoods Initiative supports local visions for how to transform high-poverty, distressed communities into neighborhoods of opportunity,” HUD Secretary Shaun Donovan said in a press release. “By working together, with local and state partners we will show why neighborhoods should always be defined by their potential—not their problems. Together, we will work to ensure that no child’s future is determined by their zip code and expand opportunity for all.”
Photo credits: eltransitcentertod.com