Two developers extol Downtown apartments
Friday, March 13, 2009 at 01:00PMPittsburgh Post-Gazette - March 13, 2009
By Mark Belko
Standing on the rooftop of a four-story Market Square building going back more than a century, Mayor Luke Ravenstahl had no doubt that people would pay for the view.
Despite the worst economic slump in decades, the mayor and other officials said yesterday they see strong demand for more than 50 apartments that will be finished in Market Square before the end of the summer.
Seven apartments will be available at Market at Fifth, a series of three old buildings rehabilitated by the Pittsburgh History and Landmarks Foundation, and 46 at Market Square Place, the $40 million conversion of the former G.C. Murphy store into residential, retail and fitness space.
Both the mayor and Arthur P. Ziegler Jr., president of the History and Landmarks Foundation, said the dour economy may end up being more of a help than a hindrance in attracting renters.
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