Cleveland-based
Polaris Real Estate Equities has received an official agreement from the national
Salvation Army to buy the nonprofit's former Western Pennsylvania Divisional headquarters, at 424 Third Ave., Downtown.
The nine-story, 93,000 square-foot building would be of use to the nearby
Point Park University and
Art Institute of Pittsburgh, says Guy Totino with Polaris, as the structure houses a range of university-ready features, including classrooms, offices, kitchens, residential rooms, a nonfunctional swimming pool and a chapel that seats 500, which could be converted into a lecture hall or theater.
The building also includes 46 onsite parking spots, says Totino, who is considering adding a deck to the current surface lot.
Massaro Corporation will market and serve as contractor on the project, and Downtown-based
MacLachlan, Cornelius & Filoni Architects, Inc. (MCF) will design the renovations.
MCF is also working with Polaris on the Chelsea, which is slated to break ground in September.
The Chelsea is a 16-story, mixed-use project to be built on the southwest corner of N. Craig Street and Centre Avenue in Oakland. The $70 million, 592,000 square-foot building will include 334 apartments, 414 structured parking spaces and about 25,000 square-feet of retail space.
"The building will be made of yellow or white brick and will emulate some of the larger institutional buildings in Oakland, like Webster Hall and the old Schenley High School," says Albert L. Filoni with MCF. "It will have large windows and extra-high ceilings that will give the apartments a loft-like feeling."
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Caralyn GreenSources: Guy Totino, Polaris Real Estate Equities; Albert L. Filoni, MacLachlan, Cornelius & Filoni Architects, Inc.
Image courtesy Polaris Real Estate Equities