Category Archives: New Construction
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.
It is a very exciting time to live, work and play in the Pittsburgh region. With redevelopment projects slated for future construction, and sustainable improvements and investments in infrastructure, Pittsburgh is gaining notable recognition as a city with think forward strategies for economic revitalization.
Developers in Pittsburgh, and across the country are building momentum in construction, by converting empty hotels, schools and multifamily properties into improved office and residential spaces. As demand increases for tenants in technology and energy related sectors, developers nationwide are eager to fulfill their space requirements, and commercial real estate experts are improving the overall appeal of these properties by adding tenants that offer recreational, residential and even entertainment amenities.
“Our firm has been involved in many projects where a former school or church has been successfully retrofitted into an alternative use,” said Gregg Broujos, Managing Director & Founding Principal at Colliers International | Pittsburgh. “Most popular has been turning former schools into apartments, like the former Fifth Avenue High School project and a former elementary school in Emsworth, both of which we were involved with as listing brokers.”