Looks like the downtown condo market demand is pretty healthy (Pittsburgh: apartments, condos)

[_Buster]

They are adding two more floors to the condos at the Saks site.

Developers adding more condos -- and two more floors -- at former Saks Fifth Avenue Downtown | Pittsburgh Post-Gazette

Also of note is one of the retail options they are trying to get on the ground floor is a grocery.

[xdv8]

I'm curious of how big the more affordable condos will be. It's always nice to see added height and density, so this is all around good news.

As much as everyone wants a grocery store, it would be great to have a new music venue if it was done well.

[_Buster]

Originally Posted by xdv8

I'm curious of how big the more affordable condos will be. It's always nice to see added height and density, so this is all around good news.

As much as everyone wants a grocery store, it would be great to have a new music venue if it was done well.

For a grocery store I think it's a pretty good location because it's so centralized and just a few blocks from the Penn ave residential area, and really only about a block from the Wood st. subway station.

For a music venue it seems riskier, afaik there isn't a whole lot of foot traffic around it at night. So unless it was really a destination spot it might struggle for business there.

[Paul2421]

great to see. looks like the average price will be 450k. they are still seeking a $4 million grant though so they are getting some state assistance to offset the risk.

[svband76]

Asking for $4 million to build $450k condos? Please.

[xdv8]

Originally Posted by _Buster

For a grocery store I think it's a pretty good location because it's so centralized and just a few blocks from the Penn ave residential area, and really only about a block from the Wood st. subway station.

For a music venue it seems riskier, afaik there isn't a whole lot of foot traffic around it at night. So unless it was really a destination spot it might struggle for business there.

There are a lot of hotels in the area - three major ones within sight of this building, what makes you think it would lack foot traffic at night?

[_Buster]

Originally Posted by xdv8

There are a lot of hotels in the area - three major ones within sight of this building, what makes you think it would lack foot traffic at night?

Smithfield st. is just not a nightlife area, not yet anyway. Most people tend to go where they have a lot of options right near each other, which is why there are clusters in market sq. and penn Ave and sixth st.

[xdv8]

Originally Posted by _Buster

Smithfield st. is just not a nightlife area, not yet anyway. Most people tend to go where they have a lot of options right near each other, which is why there are clusters in market sq. and penn Ave and sixth st.

But it isn't for a lack of people, which is a critical basis for successful development. The immediate area has Piatt Place and the Alcoa building with more staying in the hotels. With Grand @ Fifth under construction I could see the entertainment venue being successful, but a grocer is probably more practical.

[wanderlust76]

The ladies at Blush will love that... nerdy hipster/yuppie guys with money that are scared to talk to, and/or have never been with a woman moving in right across the street. If they're willing to overpay for an apartment or condo, surely they'll overpay for a woman.

[xdv8]

Originally Posted by wanderlust76

The ladies at Blush will love that... nerdy hipster/yuppie guys with money that are scared to talk to, and/or have never been with a woman moving in right across the street. If they're willing to overpay for an apartment or condo, surely they'll overpay for a woman.

How is it overpaying? Because it's more than you would pay?