See 941 Penn and Otto Milk on pghgrassroots.com
New City’s Kathy Wallace was recently featured on pghgrassroots.com, an initiative of Pittsburgh City Paper, talking about 941 Penn Avenue and The Otto Milk Building. See the webcast here.
Downtown Attracts Young, Urban-Minded Residents
PDP Study Indicates Convenience Key Factor in Choosing Downtown
PITTSBURGH, PA — According to findings released today in a study of Downtown residents, commissioned by the Pittsburgh Downtown Partnership (PDP), 44 percent are age 40 or under, with the most between ages 25-29. Downtown also appeals to “empty-nesters” between ages 50-59. Fifty-four percent of residents are single or unmarried.
Convenience of Downtown’s central location was a key driver in making the decision to move Downtown. Additionally, residents sought an urban lifestyle and cited the availability of unique housing options as other reasons for choosing Downtown. More than half of the respondents indicated they were very satisfied with their decision to move Downtown.
Cities and their deficits
Pittsburgh got its props from the Economist this week. As they were blasting other major cities, the writers suggested they could look to Pittsburgh as a positive example…
“The one bright spot in the Pew report, surprisingly, is Pittsburgh. The city and its region, once synonymous with steel, lost 120,000 manufacturing jobs in the 1980s. But over three decades it diversified. Now its main industries, health care and education, are thriving. The waterfront, once lined with factories, has been transformed into parks. Bethlehem Steel’s former home is now the site for a casino resort. Pittsburgh narrowly avoided bankruptcy in 2003, and was forced into state receivership. But it actually has a surplus now.
Pittsburgh is in relatively good shape because it largely missed the housing and dotcom booms enjoyed by the rest of the county. Indeed, it is currently building a new sports arena and a new hospital. Because of its 2003 brush with bankruptcy, it cut its city workforce by a quarter, implemented a salary freeze and made many hard decisions, such as closing fire stations. The other cities in Pew’s report could learn a few lessons from Pittsburgh.”
You can read the entire story here.
G-20 Economic Summit in Pittsburgh
Why Pittsburgh?
White House Press Secretary Robert Gibbs offered this response:
“I think it’s an area that has seen its share of economic woes in the past but because of foresight and investment is now renewed — giving birth to renewed industries that are creating the jobs of the future. And I think the President believes it would be a good place to highlight some of that.”
Of course, those of us who live here already know that, now the rest of the world gets to see it too!
Pending Home Sales Up for Three Months in a Row
Looks like the housing market may have a bit of good news. Not only is this the third month in a row with an increase, in April the rise was a whopping 6.7%. Looks like the stimulus and some of the good economic news as of late may be starting to break things free. Read more from the National Association of Realtors.
Three River’s Arts Festival is coming soon
Date: Fri, June 5th 2009 – Sun, June 14th 2009
Location: Point State Park
Three Rivers Arts Festival presents 10-Days of cultural Pittsburgh Festivities, with great Food, spectacular Entertainment and the experience of world-renowned Visual and Performing Arts. All of which is conveniently located in the downtown Pittsburgh Area… occuring `each year’… during the month of June.
Once you’ve arrived, the teasing aromas from an endless supply of Food Stands gets your senses going. After a bite… `stroll through’ the Artist’s Market… which changes six-times during the festival. Live Musical Performances will `top-off’ your enjoyable day or evening.
Three Rivers Arts Festival hours are Sunday through Thursday Noon – 9 PM; Friday & Saturday Noon – 10 PM.
LERTA (Local Economic Revitalization Tax Act))
Local Economic Revitalization Tax Act District (LERTA) was created to improve the economic and business climate of certain residential and commercial districts by lessening the tax burden on new development.
LERTA areas include downtown and the Strip District. A number of condo projects are taking advantage of LERTA including 941 Penn Avenue in the Cultural District and The Otto Milk Building in the Strip District. Residents in these buildings with assesments at $250K or higher will receive the maximum benefit of tax reduction of $6,180 per year for 10 years. It is a huge savings that can lead to a reduction in your mortgage payment by several hundred dollars a month at LERTA approved buildings. For more information you can visit the URA’s website or call us.
Cost of Living Downtown
One of the very first thing that people ask about when living in downtown Pittsburgh is the taxes and don’t they make it expensive to live in the city. While taxes are higher in the city than in some of the surrounding areas, you may find that it is more affordable than you think. First, you are going to reduce transportation costs if you are commuting from the suburbs and with high gas costs this can be significant. Plus there are a lot of other factors to consider. A few years back, Pop City ran a great story on the cost of living downtown. If you are thinking about a move it is a must read!
Hello world!
Our Blog is coming soon. What are we going to talk about? We are going to talk about what it means to choose a different way to live in Pittsburgh. Parking the car, walking to work, living green, living smaller while at the same time living larger, stepping outside into the heart of the city, meeting friends at a local hot spot, taking in a show or concert just down the street. It means trading the yard work for playtime. Being outdoors means a stroll along the riverfront or bike riding in the park. Catching a game just across the bridge with a seat overlooking the diamond and the city lights. It’s living in a neighborhood that includes the city’s best restaurant, hip clubs, a bunch of museums and galleries, a symphony, a cabaret, a playhouse, a library, a organic grocer, a boutique, a spa, a stadium, a riverfront, a casino (coming soon), an arena, a university (actually a few) and so much more. What is living different? It’s choosing a new path, your own path and this is where you can find out how to make it your home.
