Investors plan for 65 rental lofts in old 5th Avenue High, Uptown
Thursday, June 3, 2010 at 06:00AMPittsburgh Post-Gazette - June 3, 2010
By Diana Nelson Jones
The Historic Review Commission Wednesday conditionally approved the plans of an investment group to renovate the former Fifth Avenue High School, Uptown, into 65 rental lofts.
Casey Steiner and Jonathan Hill, on behalf of the new owner, an investment partnership called LMS 5th LP, said they propose to restore the exterior to national historic standards and build a new parking lot of two levels, the higher about 3.5 feet above sidewalk level on the Fifth Avenue side to be accessible to the handicapped.
Provided financing "falls into place," Mr. Steiner said, work on the 5th Avenue School Lofts could be under way by fall. "We're pretty confident."
The market, he said, is graduate students, empty nesters, people who work Downtown, in Oakland, at Mercy Hospital and Duquesne University.
The commission's conditions are that the development partners provide more detail of the composition of concrete facing on the parking deck, screening of the deck and railings.
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