Colliers International | Pittsburgh Announces Elmhurst Group’s Breaking Ground on Schenley Place
Elmhurst Group broke ground December 6, 2013 on Schenley Place, a 105,000 square foot “Class A” office building with seven stories and three levels of underground parking. Schenley Place is located on Bayard Street and Ruskin Avenue in Oakland. Elmhurst Group signed a long-term land lease with First Baptist Church of Pittsburgh for this project, which is estimated to be completed by March of 2015.
The First Baptist Church of Pittsburgh in 2004 hired Paul Horan, Founding Principal, and Ralph Egerman, Principal, of Colliers International | Pittsburgh for assistance in increasing its cash flow and providing funds to improve the 100 year old church building.
Mr. Horan and Mr. Egerman suggested to the Board of Trustees that their parking lot had significant value as a development site, and they were retained exclusively by the Board to develop a Request For Proposal and conduct interviews with carefully chosen developers. The Board of Trustees selected the Elmhurst Group to be the developer for the project and a long term ground lease was executed to improve the Church’s finances.
“Paul and I feel very privileged to have had an opportunity to work with the Church and Elmhurst, on this exciting project. Colliers International | Pittsburgh is proud of our work on behalf of non-profits and our role in the growth of our city,” said Ralph Egerman, Principal at Colliers International | Pittsburgh.
About First Baptist Church of Pittsburgh
As an American Baptist Church (ABC-USA), the First Baptist Church of Pittsburgh partners with the following Christ-centered mission-focused organizations: The American Baptist Home Mission Society (ABHMS), International Ministries (IM), the American Baptist Foundation, and the Pittsburgh Baptist Association, which is a branch of the American Baptist Churches of Pennsylvania and Delaware (ABCOPAD). In addition, designated offerings to our Deacon’s Fund enable us to respond to emergency needs within the congregation and surrounding community.
About Elmhurst Group
The Elmhurst Group of companies is a 38-year-old Pittsburgh-based organization that invests in commercial real estate and in the hospitality and electronic security industries. Elmhurst’s real estate holdings include 30 buildings on 18 sites, totaling more than 2.5 million square feet of office, distribution, flex and hotel space. Elmhurst has invested in the retail, medical, hospitality, energy and electronic security industries. Specifically, Elmhurst invested in and is an owner of ADS Security, Metis Secure and Prospera Hospitality.
Posted on January 14, 2014, in Landlord Representation, New Construction, Office and tagged Breaking Ground, Colliers International | Pittsburgh, Commercial Development, CRE, Elmhurst Group, First Baptist Church of Pittsburgh. Bookmark the permalink. Comments Off on Colliers International | Pittsburgh Announces Elmhurst Group’s Breaking Ground on Schenley Place.