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