Roundup of recent Pittsburgh-related articles on development.
1.
There is a proposal to install a zipline from Duquesne Heights to the North Shore.
2.
The ShurSave IGA is going to close in Bloomfield. The site is now owned by Echo Realty - the property development division of Giant Eagle. They plan to operate the site in the short term under the Community market banner, but are working on a long-term redevelopment plan for the location.
3.
Oxford has decided to sell the land under the first phase of Three Crossings to a Texas-based firm for $82 million. They will still operate Three Crossings, with a 90-year ground lease on the site. This exchange gives them access to a massive cash infusion which they can pile into new projects. They do not need to spend any of this on the next phase of Three Crossings, which is 100% financed, so it will be interesting to see what is done with the windfall.
4.
Q Development has finished the restoration of the historic Masonic Hall Lofts in Homestead. This was a $4 million project which resulted in a 20-unit building. The apartments are market rate, but fairly affordable (average of $1,300 per month). Apparently this is the first market-rate multifamily rehab in Homestead for decades.