URA keeps Eighth and Penn project moving forward
Tim Schooley/ BizJournals
April 13th 2017
The board of the Urban Redevelopment Authority of Pittsburgh approved another necessary step to enable a new $46.2 million apartment development to rise on the downtown edge of the city’s cultural district.
The project is by a group called McNally Bonn LLC, a joint venture between Trek Development Group and Q Development, to build a 136-unit apartment building by renovating the two established buildings on Penn Avenue, as well as building onto the structures on neighboring properties.
The vote was to grant URA approval for the project to use a small parcel the authority had sold to the Pittsburgh Cultural Trust, a minor measure expected to allow the project to start construction in June with the expectation of completion in Spring 2019.
The new development is the first to incorporate real estate of the Pittsburgh Cultural Trust into a new development project since the cultural organization concluded its long-time legal dispute that had kept much of its development property along eighth and ninth and Penn to the Fort Duquesne Boulevard from being developed.
“We’ve worked very hard with Trek to see this through and make sure the design is first class,” said F. Brooks Robinson Jr., representing the Pittsburgh Cultural Trust before the URA board.
Robinson added the trust expects the project to be catalytic for the surrounding area.
The joint venture group led by Trek incorporates five parcels owned by the Pittsburgh Cultural Trust into the development project, called Eighth and Penn.