THE ART INSTITUTE OF PITTSBURGH APARTMENT COMPLEX FACTS AT-A-GLANCE
RESIDENT BENEFITS
• Close proximity to The Art Institute of Pittsburgh (less than 4 blocks)
• Opportunity for an enhanced campus experience for students, including recreation and student activities directly tied to the college.
• New residents will enjoy the benefits of a new building and its amenities with very little increase in current rental rates.
CITY ECONOMIC BENEFITS
• The central business district of Downtown Pittsburgh will benefit from the vitality and spending habits of 650 residents.
• Art Institute student residents occupy apartments year-round.
• College students represent $53.9 billion in discretionary spending annually on a national level (according to Harris Interactive/360 Youth research). The Art Institute of Pittsburgh’s apartment complex will shift its impact to the central business district.
STRUCTURAL HISTORY
• Built in 1910
• Address: 620 Second Avenue, Pittsburgh, PA 15219
• Former site of American Thermoplastics
• Vintage structure recognized by Pittsburgh History and Landmarks Foundation
KEY DATES
• Official announcement: July 14, 2005
• Relocation of Try Street Associates, current occupants: October 2005
• Construction to commence: January 2006
• Occupancy provided: June 2007
DEVELOPMENT FEATURES
• 140 apartments
43 three-bedroom units
87 two-bedroom units
10 one-bedroom units
• 650 resident capacity
• 230,000 total square feet
• Total project estimated in excess of $15 million
• 9,000 square feet reserved for two independent retail facilities (convenience store and casual dining)
• fully-furnished apartments
• Units average one bathroom per bedroom
• new heating and air-conditioning units
• 24-hour security staff
• 11,000 square-foot activities lounge
• sport court and recreation space
• two-story atrium
• laundry facilities
SURROUNDINGS AND NEIGHBORS
• The Art Institute of Pittsburgh
• PNC Bank’s Data Center
• The Public Parking Authority’s First Side Garage and Light Rail Transit stop
• Close proximity to Station Square and South Side
• Riverfront bicycle and recreation trail
THE PARTNERS
• The Art Institute of Pittsburgh (The Art Institutes International)
• Langholz, Wilson, Ellis, Inc., a downtown-based commercial real estate firm
• TKA Architects
• The Massaro Corporation, General Contractor