Archive for June, 2009
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.
