Bloomfield, Friendship Neighborhoods See Real Estate Price Upsurge

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

It didn’t matter to Kate Hansen that the temperature had dropped below zero on the January day when she went house hunting in Bloomfield. It didn’t matter that so much snow and ice covered the region she couldn’t even tell if the property had grass in the backyard or a decent roof.

Location was everything for Ms. Hansen, 32, a project manager for the Greater Pittsburgh Arts Council’s Office of Public Art.

She wanted more than anything to own a home in the Bloomfield neighborhood. At the rate house prices in that area were rising, she didn’t feel she had the luxury of waiting until spring. She made an offer that day.

“I was a little nervous not being able to see it,” she said, adding that the house also was the first she looked at. “I knew the street, though. My best friend lives across the street from the place I bought. I knew it was a good location just from him living there.”

Read more: http://www.post-gazette.com/business/2014/05/25/Bloomfield-Friendship-neighborhoods-see-real-estate-price-upsurge/stories/201405250030#ixzz32mNViblX

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Peduto Makes Pitch For New Housing In Pittsburgh

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

Whether it’s Oxford or Ralph Falbo, Pittsburgh Mayor Bill Peduto has a message for developers — give me housing and lots of it.

And that applies to the North Shore, too, where you will find lots of offices and bars and even a hotel, but not a single place to call home.

In meetings with developers, Mr. Peduto is making it clear that there is a new administration with a new agenda in town — one that places a premium on housing and neighborhood business districts.

“Retail follows rooftop. That’s what [the late mayor] Bob O’Connor used to say. We don’t need to TIF retail centers. We don’t need to put public dollars behind big box. They’ll come. What we need to do is to build up the population that will shop there and then the retail would never need public subsidy,” he said.

Read more: http://www.post-gazette.com/local/city/2014/02/06/Peduto-makes-pitch-for-new-housing/stories/201402060184#ixzz2saXXgnKv

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3 Pittsburgh Construction Projects Hang In The Balance in 2014

Mellon Arena in downtown Pittsburgh, Pennsylvania.

Mellon Arena in downtown Pittsburgh, Pennsylvania. (Photo credit: Wikipedia)

This year could be a pivotal one in the development of the former Civic Arena site in the lower Hill District, the LTV Coke Works in Hazelwood and the Strip District produce terminal.

Both the arena redevelopment and the Buncher Co.’s plans for the produce terminal not only have the potential to generate drama but could pose the first development-related challenges for Mayor-elect Bill Peduto, who takes office Monday.

Nearly two years after the Civic Arena came down, 2014 could bring the first wave of new development to the site, which is considered among the most valuable pieces of real estate in the region.

But there’s a potential fight brewing.

Read more: http://www.post-gazette.com/local/city/2014/01/03/3-city-construction-projects-hang-in-the-balance-in-2014/stories/201401030104#ixzz2pMlbpeNL

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Ross Firm Strives To Make ‘Pittsburgh Neighborhoods Viable Again’

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

Josh Adamek and Scott Hastings believe their work is a form of neighborhood-building.

“A lot of these properties are distressed, so they aren’t worth anything,” Adamek said of the houses they are renewing. “With some work, they are homes and they help the tax base.”

Adamek is president and Hastings is vice president of Synergy Capital in the Perrysville section of Ross. The 3-year-old real estate development and investment firm is renovating homes in what Adamek calls “trendy neighborhoods” such as Lawrenceville, Bloomfield and the South Side.

“They are doing quality work,” said Aspinwall architect Susan Tusick, who has worked with the pair on several projects. “They are trying to make these city neighborhoods viable again.”

Read more: http://triblive.com/business/realestate/5011466-74/adamek-hastings-homes#ixzz2lghMlszE
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Pittsburgh Urban Redevelopment Authority Approves Hazelwood Tax Increment Financing Plans

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

The Pittsburgh Urban Redevelopment Authority board got the ball rolling Thursday for the largest piece of tax increment financing in the city’s history — an $80 million to $90 million package that would fund roads, utilities, parks and other public improvements for a proposed $900 million office and residential development in Hazelwood.

While URA board members unanimously approved preliminary plans for the funding in Hazelwood, some members criticized city council for holding up a $50 million TIF for a proposed $400 million to $500 million Buncher Co. development in the Strip District and wondered whether the Hazelwood package would suffer a similar fate.

The TIF must be approved by the city, the Pittsburgh Public Schools and Allegheny County.

“This is the beginning of a very long process,” said URA board member Jim Ferlo, a Democratic state senator from Highland Park.  “There are going to be a lot of hurdles, if not some significant roadblocks.”

Read more: http://www.post-gazette.com/stories/business/news/ura-approves-hazelwood-tif-plans-669989/#ixzz2Hgyhruih