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Old 08-12-2011, 04:08 PM
 
Location: Pittsburgh
1,758 posts, read 4,217,400 times
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10 great places to explore urban neighborhoods - USATODAY.com

This neighborhood is no doubt much improved over the last ten years. It is not on my list of top 5 Pittsburgh neighborhoods. It comes in at 7 or 8 as it has tons of potential. There is still too much under utized space and that is just on Butler Street. For residential neighborhoods, it comes in at #2 for potential realized on a scale of 1-10. I give it a 5. I believe North Side is slightly ahead of Larenceville for having a higher ceiling, but Lawrenceville is only slightly ahead and still has a ton of room for improvement. Great news for Lawrenceville.
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Old 08-12-2011, 06:44 PM
 
5,802 posts, read 9,870,467 times
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Hopefully the demand for residential in L'ville will start to fill in some of those loose ends.

Sota planning new apartment complex for Pittsburgh's Lawrenceville neighborhood - Pittsburgh Business Times

Quote:
Sota planning new apartment complex for Pittsburgh's Lawrenceville neighborhood

Ernie Sota is planning to redevelop a former office building into a 34-unit apartment project at the industrial edge of Lawrenceville, which is seeing new residential interest.
Located at the corner of 49th and Harrison streets, the Locomotive Lofts project is being pitched as a development offering market-rate apartments with an industrial look, including exposed concrete and rubber floors, solid surfaces and cast steel finishes.
“It’s going to be a cool-looking building,” Sota said. “I’m pretty excited about it.”
Sota owns Sota Construction Services , a construction company that has built more than 100 residential units for other developers, including the Blackbird Lofts in Lawrenceville’s sixth ward. Sota’s company for the project, Locomotive Developments LP, will serve as the developer on the Locomotive Lofts project, with the project designed by Paul Rodriquez and marketed by One80 Real Estate Services.
After paying $150,000 for the 20,000-square-foot structure last year, Sota estimated the property will cost around $5 million to develop, both by renovating the existing structure and building added space on to it. Financing for the project will be finalized in the near future, Sota said, and he expects to begin construction in the fall.
The long-vacant building previously served as the headquarters of H.K. Porter Co., a manufacturer of compressed air locomotives. Sota expects to pursue LEED gold certification for the new apartment development, using highly efficient HVAC, windows and solar power to help reduce energy use, and low VOC materials.
Sota said he sees a strong opportunity to add apartments in a neighborhood that has become increasingly popular. He expects the property will stand out in Lawrenceville’s rental market of old townhouses by having security and more parking, offering more than one space per unit in a densely developed neighborhood.
Matt Galluzzo, executive director of the Lawrenceville Corp., said the community is fully supportive of the project, and described apartments as scarce given the influx of newcomers to the neighborhood.
“We hear about people looking for quality rentals all the time,” he said. “A lot of the renters are coming in from outside the market. When they’re relocating here, they’re coming to these renovated units. And they’re hard to find.”

The Locomotive Lofts project and two other developments could bring 50 new units to a stretch of Lawrenceville in which residential revitalization has lagged in part due to its proximity to nearby industrial properties.
Brian Mendelssohn, principal of Lawrenceville-based Botero Development, has been redeveloping five long-neglected row houses owned by the city only a short walk from Sota’s project and quickly had four of them under contract at asking prices in the $200,000-plus range.
Selling them faster than he anticipated, Mendelssohn saw that as a great sign for the neighborhood, and saw Sota’s project as a great sign for the neighborhood.
“I think that’s a good number (in terms of units) because there’s a strong market for a loft product that has a balance between urban industrial and luxury,” Mendelssohn said. “I think it’s a no-brainer.”
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Old 08-12-2011, 07:07 PM
 
20,273 posts, read 32,939,304 times
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Sounds like a cool project. I suspect we will see a bunch more of these coming into the pipeline over the next few years.
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