PITTSBURGH | Development Rundown III

[dfiler]

Originally Posted by Steel City Scotty

Billionaire Thomas Tull to move his headquarters to Pittsburgh, become permanent resident here

Wow, Legendary Entertainment has box office totals approaching 15 billion dollars!

[Captain Crash]

Originally Posted by dfiler

Wow, Legendary Entertainment has box office totals approaching 15 billion dollars!

Unfortunately, Tull sold Legendary a year or two ago. It appears the company he's bringing to Pittsburgh is newer and connected to tech R/D.

[highlander206]

Originally Posted by Steel City Scotty

Billionaire Thomas Tull to move his headquarters to Pittsburgh, become permanent resident here

Interesting, but great news. Not too often you hear of a billionaire moving to a midsized city.

[daviderik]

311 days later, his penthouse is still on the market.
http://www.piattsothebysrealty.com/s...burgh-pa-15222

[pj3000]

Originally Posted by daviderik

311 days later, his penthouse is still on the market.
http://www.piattsothebysrealty.com/s...burgh-pa-15222

Almost $10M... damn. That's a pricey pad. I would think that's still a pretty tough sell here. Not a fan of most of the decor... looks rather gaudy Trumpish to me.

[eschaton]

I wish he'd make his "primary residence" Pittsburgh itself, and not Edgeworth, so we'd get all that sweet, sweet wage tax money.

[pj3000]

Originally Posted by eschaton

I wish he'd make his "primary residence" Pittsburgh itself, and not Edgeworth, so we'd get all that sweet, sweet wage tax money.

Agreed. It would be nice to have a "city billionaire" among the ranks in Pittsburgh.

[eschaton]

So, the URA met yesterday. The meeting agenda is now online. Some interesting items:

1. Phase III of Summerset at Frick Park (the portion which will be across Nine Mile run in Swisshelm Park) is slowly moving along with engineering services.

2. The URA accepted $690,000 from PWSA and Pittsburgh Parks Conservancy to help build the new Liberty Green Park (which I am almost certain is the new park within the Larimer Avenue area development).

[dfiler]

The URA tweeted:
"@urapgh to issue an RFP for site civil engineering services for Phase III of Summerset at Frick Park"

https://twitter.com/urapgh/status/951533304892796928

Personally, I hope that this project is cancelled. It would have horrible road access because existing swisshelm park residents don't want the street grid connected. So instead, the plan is to build a rather significant road and bridge across 9-mile run. The second connection would be to commercial avenue near the irish center. That road is already badly congested during rush hour and problematic in icy weather.

I think pittsburgh would be better off investing in existing neighborhoods where houses sit vacant, rather than building a new neighborhood in what is effectively a city park.

[Don't Be That Guy]

Originally Posted by dfiler

The URA tweeted:
"@urapgh to issue an RFP for site civil engineering services for Phase III of Summerset at Frick Park"

https://twitter.com/urapgh/status/951533304892796928

Personally, I hope that this project is cancelled. It would have horrible road access because existing swisshelm park residents don't want the street grid connected. So instead, the plan is to build a rather significant road and bridge across 9-mile run. The second connection would be to commercial avenue near the irish center. That road is already badly congested during rush hour and problematic in icy weather.

I think pittsburgh would be better off investing in existing neighborhoods where houses sit vacant, rather than building a new neighborhood in what is effectively a city park.

The city has no business building new infrastructure like bridges when it can't properly maintain or replace its current inventory. Phase III should be built, but it should be connected to the existing streets of Swisshelm Park.

[photoLith]

Originally Posted by daviderik

311 days later, his penthouse is still on the market.
http://www.piattsothebysrealty.com/s...burgh-pa-15222

Holy hell, that's awesome; looks like a swanky ass apartment in NYC. Let's all pitch in the money and buy it and we can rotate forum members every month or so.

[GeneW]

Originally Posted by daviderik

311 days later, his penthouse is still on the market.
http://www.piattsothebysrealty.com/s...burgh-pa-15222

Not really surprising. Who exactly would buy a $10M condo in Pittsburgh? He seems to have pretty tacky taste, but that might just be me.

[eschaton]

Originally Posted by dfiler

The URA tweeted:
"@urapgh to issue an RFP for site civil engineering services for Phase III of Summerset at Frick Park"

https://twitter.com/urapgh/status/951533304892796928

Personally, I hope that this project is cancelled. It would have horrible road access because existing swisshelm park residents don't want the street grid connected. So instead, the plan is to build a rather significant road and bridge across 9-mile run. The second connection would be to commercial avenue near the irish center. That road is already badly congested during rush hour and problematic in icy weather.

I think pittsburgh would be better off investing in existing neighborhoods where houses sit vacant, rather than building a new neighborhood in what is effectively a city park.

Does Duck Hollow have the pull to stop a connecting road from going through as well? I know that it's a fairly steep hill, but it would allow for quick road access to Murray Avenue without the need for an additional bridge over Nine Mile Run.

[eschaton]

Well, this is cryptic.

I had no idea that a city councilperson could block a URA redevelopment (even temporarily) without even explaining the reason why it was being blocked or bothering to show up.

[BenM]

Originally Posted by GeneW

Not really surprising. Who exactly would buy a $10M condo in Pittsburgh? He seems to have pretty tacky taste, but that might just be me.

It certainly is a particular taste. I think it will probably limit the potential buyer base. In Manhattan, people wouldn't blink at dropping a half million more to gut renovate, but Pittsburgh?

[daviderik]

Originally Posted by GeneW

Not really surprising. Who exactly would buy a $10M condo in Pittsburgh? He seems to have pretty tacky taste, but that might just be me.

Agreed. Not my taste and the furniture was a deal breaker for me. So I went with the two bedroom apt in Crafton instead.

[Austinlee]

Originally Posted by Steel City Scotty

Billionaire Thomas Tull to move his headquarters to Pittsburgh, become permanent resident here

This is pretty amazing news to have a billionaire and his company move here. And one who is in the tech scene:

“Pittsburgh will be the main tech hub of the company so it will also be the home of our computer scientists, artificial intelligence and machine learning data scientists as well.”

Originally Posted by daviderik

311 days later, his penthouse is still on the market.
http://www.piattsothebysrealty.com/s...burgh-pa-15222

Well that price point is a few million dollars higher than the existing high end in the city and metro. Not to say it won't sell but even after substantial negotiations in price it would still be a pretty big outlier.

Originally Posted by GeneW

Not really surprising. Who exactly would buy a $10M condo in Pittsburgh? He seems to have pretty tacky taste, but that might just be me.

That decor is not unusual in many of the highest end homes in places like Fox Chapel and Sewickley Heights. Admittedly this style is usually seen in 120 year old mansions but it can be found from penthouses in Manhattan to sprawling Bucks County estates to any of the ritziest gilded age mansion suburbs across the country.

[deja vu]

Construction camera update for CMU's new Tepper Quad. Screenshots from today:

RMCIC Camera:

Source

The Residence on Fifth Camera:

Source

Warner Hall Camera:

Source

[Austinlee]

Cool shots Deja Vu. Thanks.

[Evergrey]

Cool shots Deja Vu. Thanks.