Officials at Pittsburgh Public Schools have revealed proposals from four bidders interested in purchasing and redeveloping the former Pittsburgh Schenley High School in North Oakland.
The Pittsburgh Post-Gazette reports that in order to qualify, the bids were required to include an acquisition price of at least $4 million. This amount covers the remaining debt on the historic property.
The four bidders and the bid amounts are:
• PMC Property Group, $5.2 million
• AWSVPA/Edward Alexei, $4.1 million
• Ralph A. Falbo Inc., $4 million
• Kossman Development Co., agent for Provident Charter School, $4.6 million.
The candidates intend to convert the property into apartments and/or create a new school. The highest bid came from Philadelphia-based PMC Property Group. The developer is proposing 175 residential units, along with parking and an on-site fitness center. The development will incorporate the existing basketball gym, while the uses of the pool and auditorium will be determined at a later date. The estimated cost of the project is around $37 million.
Kossman Development Co. is planning to spend $36.8 million for the development of both a charter school for 336 dyslexic children in grades 2-8 and 115 housing units for college students.
The AWSVPA proposal includes the creation of a private secondary school called the Andy Warhol School of Visual and Performing Arts. The estimated cost of the development is approximately $25 million.
Local developer Ralph A. Falbo, an alumnus of Schenley, is planning 123 market rate apartments (99 one-bedroom and 14 two-bedroom units), with an on-site fitness center. The estimated cost of the proposed project is $32 million.
The Request for Proposals process is being managed by Fourth River Development. A final vote from the School Board is expected on Feb. 27 during its regular public meeting.
Photo credits: www.frd.us.com/pghschools/schenley.htm