Happenings in Pittsburgh!! (Carnegie, Monongahela, Newport: environment, skyscrapers, estate)

[guylocke]

I read a very interesting article in the post-gazette today, unfortunately, I can't find the same article online, so no link. I will describe it:

It was about start-up companies in the Pittsburgh region. There was a recent report given on regional economic indicators of which great concern was expressed due to the perceived fact that Pittsburgh was extremely lackluster in Startups.

However, the article points out how misleading the numbers are. For example, it then continues to outline a different Startup indicator which is pure venture capital investment. Pittsburgh was then re-ranked looking at venture capital investment and ended ranking sixth out of the top sixteen cities in America.

What this means in that Pittsburgh is being heavily invested in for Startup companies that matter: technology, engineering, research, robotics, etc. Venture capital does not back pizza shops or beauty shops, something apparently Pittsburgh is not creating enough of which then pulls down our Startup numbers.

It then outlines the actual numbers of investment and how in 2007 Pittsburgh has had more out-of-state and foreign investment than it ever has. The author claims that he always had to coax people to invest in the region but in the last 5 years people are eager and willing because the Pittsburgh capital venture market is strong and the region is considered high-quality in this regard.

It also explains how our high density of Universities can be thanked for the success of high-quality Startups.

[globalburgh]

Here is a link to the article guylocke is discussing:

http://www.post-gazette.com/pg/07359/844274-28.stm

[guylocke]

ty! I couldn't find it earlier.

[guylocke]

Here is an article showing a correlation between the booming construction going on in the city and the trade unions and apprentices.

For the 20,000 workers represented by the region's 19 trade unions, this means a reversal of the 20 percent unemployment rate of just 18 months ago, said Rich Stanizzo, business manager for the Building and Construction Trades Council.

"In the past six months, all of the trades are between 95 and 100 percent employed," Stanizzo said. "If we're lucky, we're hoping it will last four or five years, depending on what happens in the economy."

The apprentice programs in the region have also increased from roughly 700 to 1000.

Workers busy in region's building boom (broken link)

[guylocke]

Here is more about the Fifth and Forbes Corrider re-development, led by Duquesne University. Many people believe the up-town corrider, anchored by Duquesne University, across the river from the Southside and inbetween Oakland and Downtown could really see a resurgance in property worth.

I believe it. I live right there and love it. Duquesne has A LOT more planned, too, and of course, so do the Penguins.

One example is the $35 million Power Center that is scheduled for a formal opening in January. It's the first of a number of developments the university envisions on a two-block area of Forbes acquired by Duquesne over a period of years.

The first level of the 125,000-square-foot building, off Watson Street, houses a Barnes & Noble bookstore, as well as mechanical and maintenance systems.

The main entrance off Forbes houses the second floor of Barnes & Noble, the Red Ring restaurant (to be operated by the university) and a combination deli and Jamba Juice Bar outlet. Within Barnes & Noble will be a second Starbucks on campus.

Forbes Avenue a work in progress (broken link)

[guylocke]

Apparently there are some major bids for the Smithfield St office building. Thank god, it's prime property just waiting to be re-made. Apparently one of the strongest bids is from the same guy who made 151st Condo's. Go for it! That's what I say. It may also go to Point Park, the second largest owner of downtown property.

Mr. Falbo has plans to erect another building with about 120 condominiums and a boutique hotel with about 80 rooms in the parking lot. There also would be underground parking. He would keep the office building intact.

"We think we're the best people to do the job. We've already done it. We'd like to do it again. Plus, we think we've got a really nice proposal," he said.

The county has not released the names of the other developers, but Economic Development Director Dennis Davin has said their plans involved condos or apartments.

At the same time, the county, which purchased the property for $8.2 million in 2004, has heard from others with interest in the site.

County to seek proposals for Smithfield St. office building (broken link)

[guylocke]

For those of you who haven't heard, the Don Allen Auto City in Shadyside is closing. While that may be sad, it opens up 7 acres of prime space along the Baum and Liberty corridor. It has huge potential.

Retail, residential, a hotel or a combination thereof are the most likely choices, said experts on the day after the Voelker family announced plans to sell their well-known dealership and seven-acres of property in separate deals to as-yet unidentified buyers.

"A multi-use development is a good possibility," said Greg Broujos, broker with NAI Pittsburgh Commercial, a Downtown-based commercial real estate firm. "I think the most likely uses would be retail, office, and some kind of high-end condominiums and maybe a hotel."

Peduto said the property represents probably the largest block of property available for new development "right smack in the middle" of the Baum-Centre corridor.

Shadyside dealership sale opens development window (broken link)

[guylocke]

Robert Morris University will spend 10 million to renovate and expand its downtown campus. They are actually selling off another property along fifth ave (gobbled up by none other than Duquesne Univserity) and moving their Media Arts department into the building on 600 Fifth Ave.

I wonder what Duquesne will do with the property, they now own quite a bit of land along the fifth and forbes corridor.

“We’d like to have it be much more of a community-based building, open up the first floor give it a community usage. We’ll have a user-friendly street-level space that will hopefully attract people from outside the university. We’re looking at adding a café,” says RMU president Greg Dell'Omo. “Downtown really is coming back and this location makes perfect sense for us. With the new arena bringing new restaurants and shops to Fifth and Duquesne doing their creative work on Forbes, this becomes a new hot area of the city.”

$10M renovation, expansion project underway at RMU's Downtown Pittsburgh campus (broken link)

[guylocke]

Here a little article about some of the neat and trendy stuff going up in Lawrenceville.

Housed within a 96-year-old building, the 3,500-square-foot space features a performance stage and 11-foot ceilings. Patrons are lulled by inviting low couches, rich fabrics and hundreds of cozy pillows.

There are a slew of eclectic home and clothing shops, art galleries, music venues and restaurants,” says ********, who is excited that Dozen Cupcakes and Tamari restaurant will soon open their doors nearby. “There was a great write-up on Butler Street in The New York Times about the neighborhood being one of the last bastions of non-corporate, independently-owned businesses in America.”

Part contemporary coffeehouse part posh lounge, YIV carries coffees and teas from around the globe, offers free WiFi, and hosts film screenings. ******** sums up the result of extensive renovations, “We’ve turned our place into a Turkish harem.”

Pittsburgh's Lawrenceville neighborhood energized by creative new cafés, venues (broken link)

[guylocke]

One of western PA's fastest growing industries is about to get a lot hotter. Nuclear engineering is no stranger to Pittsburgh technology and science companies, however, Pitt is now offering the first graduate and undergraduate degree in nuclear engineering in the region.

“Pittsburgh is the mecca of the nuclear science industry in my view,” says Larry Foulke, a noted nuclear engineer and director of the program. “I believe we will see a big draw in Western Pennsylvania given that the companies here are all hiring like crazy. This is the only face to face program in the area.”

As the world clamors for a clean, reliable source of energy, nuclear energy has reemerged as the technology that is environmentally cleaner, independent of foreign oil and very safe. Despite several incidents in its early years, nuclear energy has had an unblemished run since 1986, says Foulke.

University of Pittsburgh offers the first nuclear engineering program in the region (broken link)