PITTSBURGH — A long-vacant property in Pittsburgh’s south side has a new owner with plans to redevelop the space into residential units.
Walnut Capital announced its acquisition of the UPMC South Side hospital complex, including the adjacent parking lots, Monday morning. The property has sat vacant for more than 13 years.
The property management company’s president, Todd Reidbord, said the goal is to create “high quality residential units that fit seamlessly into the community’s architectural fabric.”
Walnut Capital began meeting with community members before initiating the sale and plans to continue those meetings while the project progresses.
“We’re super excited about Walnut Capital’s investment in the South Side,” said Don Berman, executive director of neighborhood organization South Side Community Action Network. “It’s yet another example of the positive assets marking the growth of South Side Pittsburgh’s residential and commerce center – which is steps away from downtown and Oakland.”
The company has selected PJ Dick as the general union contractor and Strada as the architect for the project, with a plan to use 100% union labor throughout.
The sale is exciting to councilperson-elect Bob Charland, who sees it as an opportunity to bring non-taxable land back onto the city’s tax rolls while growing the community and nurturing businesses.
“I live a few blocks away from the site and am excited to show new neighbors what’s so great about this neighborhood,” said Charland. “The South Side is home to a thriving neighborhood business district that, not unlike other city neighborhoods, is remaking itself post-pandemic.”
The demolition of the hospital property is set to begin in 2024.
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