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Old 04-30-2012, 07:22 AM
 
Location: Pittsburgh, PA (Morningside)
13,252 posts, read 13,649,838 times
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Hey all,

I wonder if there are houses you know of which you wish you had the capital to fix up, but know it is not feasible. I know I do.

One place I think about a lot is on Penn Avenue, near the intersection of 44th street, across from the Children's hospital. It's boarded up, but an amazing looking, three-story stone rowhouse in between Ariana Optical and a set of nicely fixed-up brick rowhouses. I'm sure the owner is land-banking it for when it will be worth more money, as I can't imagine why else someone would sit on a gorgeous property.

The other area I think about a lot, further down Penn Avenue, is "Bride Row" - the group of houses near the Quiet Storm which end with the Bride Mural. Most of the houses are abandoned, and all need a ton of work. I saw the other day they were putting *siding* up on one of them, which broke my heart, but my wife said at least it shows someone is taking some sort of care of one of them. Still, that row, particularly given the location, would be absolutely fabulous if fixed up.

Last edited by eschaton; 04-30-2012 at 07:49 AM..
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Old 04-30-2012, 08:19 AM
 
Location: 15206
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that guy has been sitting on it for a decade. 8 years ago he wanted 250k and he was way out of line. now he might be able to get that, but he probably wants 400k.
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Old 04-30-2012, 08:22 AM
 
Location: 15206
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also there are preliminary plans for bride's row. I'm one of 4 or 5 developers that were approached to walk through and run numbers on them. two are owner occupied and 4 are controlled by a CDC. the conditions range from bad to horrible.
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Old 04-30-2012, 08:25 AM
 
Location: Pittsburgh, PA (Morningside)
13,252 posts, read 13,649,838 times
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Quote:
Originally Posted by selltheburgh View Post
that guy has been sitting on it for a decade. 8 years ago he wanted 250k and he was way out of line. now he might be able to get that, but he probably wants 400k.
It amazes me how much land-banking property owners can screw up residential development. Look at the 10th Street area in South Side, which is still blighted looking despite a happening neighborhood. Look at how long Buncher dragged their feet in the Strip District (although they finally seem to be moving) Hell, look at Uptown, where one slumlord controlling the market is probably single-handedly stopping revitalization.
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Old 04-30-2012, 08:27 AM
 
Location: Pittsburgh, PA (Morningside)
13,252 posts, read 13,649,838 times
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Quote:
Originally Posted by selltheburgh View Post
also there are preliminary plans for bride's row. I'm one of 4 or 5 developers that were approached to walk through and run numbers on them. two are owner occupied and 4 are controlled by a CDC. the conditions range from bad to horrible.
Unsurprising. I'm sure most of the houses probably need $100,000+ worth of work to turn around. That said, I hope they all end up under common ownership eventually, as they'll really pop if they're all fixed up again to have a common style.
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Old 04-30-2012, 09:52 AM
 
Location: 15206
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Quote:
Originally Posted by eschaton View Post
It amazes me how much land-banking property owners can screw up residential development. Look at the 10th Street area in South Side, which is still blighted looking despite a happening neighborhood. Look at how long Buncher dragged their feet in the Strip District (although they finally seem to be moving) Hell, look at Uptown, where one slumlord controlling the market is probably single-handedly stopping revitalization.
There is one common thing with buncher and sal in uptown. They both held Parking lots.
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Old 04-30-2012, 09:53 AM
 
Location: 15206
1,859 posts, read 2,273,624 times
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Quote:
Originally Posted by eschaton View Post
Unsurprising. I'm sure most of the houses probably need $100,000+ worth of work to turn around. That said, I hope they all end up under common ownership eventually, as they'll really pop if they're all fixed up again to have a common style.
150k is a safe figure.
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Old 04-30-2012, 11:54 AM
 
20,273 posts, read 30,127,294 times
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This is why we should go back to using land-value taxes--although inadvertently or by design, it looks like the new assessments may have a similar effect.

Anyway, I tend to think less about houses these days and more about various buildings in downtown Wilkinsburg. I'd love to do some sort of public amenity with the train station, maybe an Allegheny County Transportation Museum:



I'd also like to do something with this row of connected units along the west side of Wood south of Wallace, maybe subsidized work/live spaces for artists/craftspeople who could live above their galleries:



Anyway, if I was a crazy rich person I would be doing stuff like that.
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Old 04-30-2012, 12:36 PM
 
7,422 posts, read 14,500,431 times
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613 whitney in wilkinsburg is so awesome. it looks like the owner FINALLY sold it to someone who is doing some work on it. they paid practically nothing, too. i know that people have been approaching them about buying it for years. in the meantime either the owners or thieves have been stripping it of the stained glass and probably any original interior fixtures as well. sigh. still, hopefully the new owners will fix it up nicely.

this picture doesn't really illustrate how beautiful this place is:

http://images.county.allegheny.pa.us/CLTcgi2/webimage.dbw?Project=Allegheny&ParcelID=%270176L00 080000000%27&Image=1&Resize=350x263 (broken link)


oh and the sweet little wood frame house at the corner of coal and walnut, also in wilkinsburg. it looked like someone was working on it about 4-5 years ago but it's just been crumbling since then.

it's in a lot worse shape now:

http://images.county.allegheny.pa.us/CLTcgi2/webimage.dbw?Project=Allegheny&ParcelID=%270233J00 062000000%27&Image=1&Resize=350x263 (broken link)
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Old 04-30-2012, 12:56 PM
 
20,273 posts, read 30,127,294 times
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Quote:
Originally Posted by groar View Post
613 whitney in wilkinsburg is so awesome. it looks like the owner FINALLY sold it to someone who is doing some work on it.
That's great news! It is a truly stunning place--even without a lot of the original stained glass it is well worth restoring.
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