A long-vacant former industrial property on the North Side is being converted into a 31-unit residential development.
The development, called Columbus Square, is located at the intersection of Juniata and Sedgwick Streets in Manchester. The property--once the American Electric site, and more recently a giant vacant lot--has been empty for about two decades. A groundbreaking ceremony was held on Thurs., Jan. 14. The first five homes are expected to be available for sale during the third quarter of 2010. Nine buyers have already expressed interest, according to Fourth River Development principal Mark Schneider.
Columbus Square is being developed by a partnership of the Manchester Citizens Corporation (MCC) and the principals of Fourth River Development, which is once again transforming unused or underused land in Pittsburgh into a residential community. Fourth River's other notable developments include Washington's Landing, which converted a neglected 142-acre island in the Allegheny River into an upscale mixed-use development; and Summerset at Frick Park, which turned a 25-story slag heap into a 47-acre award-winning traditional neighborhood.
Columbus Square employs a traditional neighborhood design, with each of its single-family, market-rate residences containing a private yard and two-car garage. Ten of its units are townhomes connected in pairs of two, while the remaining 21 are freestanding residences. Home prices range from $179,000 to the mid-$200,000s.
"The architecture of the houses seems like Manchester, but the houses have the latest floor plans and energy efficiency," says Schneider with Fourth River. "Our history has shown that if you can build the right house, and price it right, and it's right in the city of Pittsburgh, it will sell, and there will be a lot of interest."
Devlin Architecture, Residential Development and Construction, Inc., and LaQuatra Bonci Associates are responsible for the design, construction and landscaping of the project, respectively. The Pittsburgh office of GAI Consultants will provide infrastructure design for the new development.
Funding was secured from the URA, the Commonwealth of Pennsylvania, Allegheny County's Community Infrastructure Tourism Fund and the Pittsburgh Water and Sewer Authority. Additionally, PNC Bank financed a model unit, and PNC Mortgage Company has committed to providing a below-market mortgage rate to qualified buyers. Buyers will also benefit from a 10-year tax abatement.
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Writer: Caralyn Green
Source: Mark Schneider, principal, Fourth River Development
Image courtesy of Fourth River Development