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Pittsburgh New Construction & Proposed Multifamily Projects 4Q20

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Pittsburgh New Construction & Proposed Multifamily Projects 4Q20 Pittsburgh New Construction & Proposed Multifamily Projects 4Q20 ID PROPERTY UNITS 1 Kaufmann's Grand on Fifth Avenue 311 3 Midtown Towers Redevelopment 94 5 Cornerstone Village Phase II 150 28 Total Lease Up 555 41 6 The District 443 40 32 50 5 7 Connection @ South Side 280 9 29 8 Commonwealth Building 31 Redevelopment 150 14 12 37 Total Under Construction 873 11 27 23 6 9 Brewer's Block 370 10 Fifth Avenue 52 11 Garden Theater Block 62 12 The Garden 56 14 5803 Centre Avenue 161 3 35 25 15 Waterfront 251 1 34 16 The Waterfront Redevelopment 251 10 38 36 8 33 24 23 22RR 220 26 24 City's Edge 110 25 Civic Arena Redevelopment 288 26 Fifth Avenue and Dinwiddie Street 167 27 Heinz Research 74 28 Arsenal 201 Phase II 343 29 Shady Hill Center 232 30 Gladstone Residences 53 7 Total Planned 2,690 31 2926 Smallman Multi Residential 50 32 3213 Penn Avenue 114 33 429 Forbes Avenue 87 30 34 Civic Arena Redevelopment Phase II 250 35 Civic Arena Redevelopment Phase III 430 16 36 Market and First 151 15 37 SouthSide Works 230 38 3500 Forbes Avenue 300 40 Cornerstone Village Phase III 60 41 Cornerstone Village Phase IV 51 50 Beatty Square 220 Total Prospective 1,943 2000 ft Source: Yardi Matrix LEGEND Lease-Up Under Construction Planned Prospective Pittsburgh New Construction & Proposed Multifamily Projects 4Q20 49 22 21 48 ID PROPERTY UNITS 13 2 Towne Square Senior 119 4 Park Place at Meadowlands Phase II 88 46 Total Lease Up 207 47 13 The Ross 124 17 Tuscany Pointe 156 39 52 18 Newbury Village 250 19 19 3721 Evergreen Drive 92 43 20 Canonsburg Senior Lofts 50 44 21 Brandt Drive 276 51 22 Meeder Flats by Watermark 304 Total Planned 1,252 42 18 17 45 39 Esplanade Landing 700 42 Shannon Transit Village 152 43 Hawkins Village Redevelopment 53 2 44 Hawkins Village Redevelopment Phase II 50 20 45 Century III Mall Redevelopment 200 46 Findlay Crossings 135 47 Findlay Crossings Phase II 135 48 Harmony Station 100 4 49 Clover 116 51 Castlegate Green 51 52 Lexington Technology Park 125 Total Prospective 1,817 5 mi Source: Yardi Matrix LEGEND Lease-Up Under Construction Planned Prospective Pittsburgh New Construction & Proposed Multifamily Projects PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP 1 Kaufmann's Grand on Fifth Avenue 434 5th Avenue Pittsburgh PA 15219 Lease-Up 311 Pittsburgh - Downtown 09/01/2016 06/30/2021 10/15/2017 2 Towne Square Senior 1043 Towne Square Drive Greensburg PA 15601 Lease-Up 119 Greensburg 03/31/2020 03/31/2021 11/26/2020 3 Midtown Towers Redevelopment 643 Liberty Avenue Pittsburgh PA 15222 Lease-Up 94 Pittsburgh - Downtown 07/01/2017 01/31/2021 08/31/2020 4 Park Place at Meadowlands Phase II 2000 Wildflower Circle Washington PA 15301 Lease-Up 88 Canonsburg 02/01/2018 01/31/2021 04/01/2019 5 Cornerstone Village Phase II 185 Larimer Avenue Pittsburgh PA 15206 Lease-Up 150 Bloomfield 10/31/2017 01/31/2021 11/01/2018 Total Lease-Up 762 6 The District 21st Street & Waterfront Place Pittsburgh PA 15222 Under Construction 443 Pittsburgh - Downtown 11/01/2019 05/31/2022 7 Connection @ South Side 2984 Sidney Street Pittsburgh PA 15203 Under Construction 280 Southside 10/01/2019 05/31/2021 Commonwealth Building 8 316 4th Avenue Pittsburgh PA 15222 Under Construction 150 Pittsburgh - Downtown 11/01/2019 04/30/2021 Redevelopment Total Under Construction 873 9 Brewer's Block 3250 Liberty Avenue Pittsburgh PA 15201 Planned 370 Hill District 10 Fifth Avenue 1717 5th Avenue Pittsburgh PA 15219 Planned 52 Hill District 11 Garden Theater Block Federal Street & West North Avenue Pittsburgh PA 15212 Planned 62 Northshore 12 The Garden 22 West North Avenue Pittsburgh PA 15212 Planned 56 Northshore 13 The Ross 7920 Perry Hwy Pittsburgh PA 15237 Planned 124 West View 14 5803 Centre Avenue 5803 Centre Avenue Pittsburgh PA 15206 Planned 161 Bloomfield 15 Waterfront 201 East Waterfront Drive Homestead PA 15120 Planned 251 West Mifflin 16 The Waterfront Redevelopment 149 West Bridge Street Homestead PA 15120 Planned 251 West Mifflin 17 Tuscany Pointe 1500 McLaughlin Run Road Upper St. Clair PA 15241 Planned 156 Upper St. Clair 18 Newbury Village Oakridge Road & Presto - Sygan Road Bridgeville PA 15017 Planned 250 Oakdale 19 3721 Evergreen Drive 3721 Evergreen Drive Monroeville PA 15146 Planned 92 Monroeville 20 Canonsburg Senior Lofts 803 1st Street Canonsburg PA 15317 Planned 50 Canonsburg 21 Brandt Drive 105 Brandt Drive Cranberry Township PA 16066 Planned 276 Cranberry Township 22 Meeder Flats by Watermark Main Street & Rochester Road Cranberry Township PA 16066 Planned 304 Cranberry Township 23 22RR 2249 Railroad Street Pittsburgh PA 15222 Planned 220 Pittsburgh - Downtown 24 City's Edge 1450 Colwell Street Pittsburgh PA 15219 Planned 110 Pittsburgh - Downtown 25 Civic Arena Redevelopment 66 Mario Lemieux Place Pittsburgh PA 15219 Planned 288 Pittsburgh - Downtown 26 Fifth Avenue and Dinwiddie Street Fifth Avenue and Dinwiddie Street Pittsburgh PA 15219 Planned 167 Hill District 27 Heinz Research 1075 Progress Street Pittsburgh PA 15212 Planned 74 Northshore 28 Arsenal 201 Phase II 3922 Foster Street Pittsburgh PA 15201 Planned 343 Bloomfield 29 Shady Hill Center Penn Avenue & Shady Avenue Pittsburgh PA 15206 Planned 232 Bloomfield 30 Gladstone Residences 327 Hazelwood Avenue Pittsburgh PA 15207 Planned 53 Carrick Total Planned 3,942 Source: Yardi Matrix Yardi Source: Pittsburgh New Construction & Proposed Multifamily Projects PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP 31 2926 Smallman Multi Residential 2926 Smallman Street Pittsburgh PA 15201 Prospective 50 Pittsburgh - Downtown 32 3213 Penn Avenue 3213 Penn Avenue Pittsburgh PA 15201 Prospective 114 Pittsburgh - Downtown 33 429 Forbes Avenue 429 Forbes Avenue Pittsburgh PA 15219 Prospective 87 Pittsburgh - Downtown 34 Civic Arena Redevelopment Phase II 66 Mario Lemieux Place Pittsburgh PA 15219 Prospective 250 Pittsburgh - Downtown 35 Civic Arena Redevelopment Phase III 66 Mario Lemieux Place Pittsburgh PA 15219 Prospective 430 Pittsburgh - Downtown 36 Market and First First Avenue & Market Street Pittsburgh PA 15222 Prospective 151 Pittsburgh - Downtown 37 SouthSide Works 27th Street & Smallman Street Pittsburgh PA 15222 Prospective 230 Pittsburgh - Downtown 38 3500 Forbes Avenue 3500 Forbes Avenue Pittsburgh PA 15213 Prospective 300 Oakland 39 Esplanade Landing 829 Beaver Avenue Pittsburgh PA 15233 Prospective 700 Northshore 40 Cornerstone Village Phase III 185 Larimer Avenue Pittsburgh PA 15206 Prospective 60 Bloomfield 41 Cornerstone Village Phase IV 185 Larimer Avenue Pittsburgh PA 15206 Prospective 51 Bloomfield 42 Shannon Transit Village Castle Shannon Blvd & Mt. Lebanon Blvd Pittsburgh PA 15234 Prospective 152 Castle Shannon 43 Hawkins Village Redevelopment 500 Kenmawr Avenue Rankin PA 15104 Prospective 53 Braddock 44 Hawkins Village Redevelopment Phase II 500 Kenmawr Avenue Rankin PA 15104 Prospective 50 Braddock 45 Century III Mall Redevelopment 3075 Clairton Road West Mifflin PA 15123 Prospective 200 West Mifflin 46 Findlay Crossings SWC Boundary Street & Moon Clinton Road Coraopolis PA 15108 Prospective 135 Coraopolis 47 Findlay Crossings Phase II SWC Boundary Street & Moon Clinton Road Coraopolis PA 15108 Prospective 135 Coraopolis 48 Harmony Station Valley Road & Wexford Run Road Wexford PA 15090 Prospective 100 Hampton Township 49 Clover 9th Avenue & Western Avenue Beaver PA 15009 Prospective 116 Beaver 50 Beatty Square South Beatty Street & Mignonette Street Pittsburgh PA 15206 Prospective 220 Bloomfield 51 Castlegate Green Dorchester Avenue & Midland Street Pittsburgh PA 15226 Prospective 51 Castle Shannon 52 Lexington Technology Park 400 North Lexington Avenue Pittsburgh PA 15208 Prospective 125 Homewood Total Prospective 3,760 TOTAL PITTSBURGH 9,337 Source: Yardi Matrix Yardi Source: © 2020 Berkadia Real Estate Advisors LLC. Berkadia® is a trademark of Berkadia Proprietary Holding LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker License #01931050; Vincent B. Norris, CA BRE Lic. # 843890. Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701; and Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details visit: http://www.berkadia.com/legal/licensing.aspx. The information and details contained within this report have been obtained from a third-party and believed to be accurate; however, Berkadia has not independently verified its accuracy. Date of survey: December 2020.
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