Downtown housing boom no illusion
Sunday, September 24, 2006 at 12:00PM
Pittsburgh Post-Gazette - September 24, 2006
By Mark Belko
Downtown's residential renaissance is producing its first fruits.
Developers say they are having little trouble finding people willing to spend $250,000 or more to buy a Downtown condo or as much as $3,275 a month to rent an apartment.
Since opening at the end of April, the new Encore on 7th has leased 73 percent of its 151 units, with most rents ranging from $1,400 to $3,275 a month.
The Golden Triangle's newest condominium building, 151 First Side, has commitments on 43 of 80 units, with prices ranging from $250,000 to $500,000. Piatt Place at the former Lazarus-Macy's building has lined up buyers on 10 of 65 condos, with prices running from $335,400 to $634,500, in the four months the sales office has been open.
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