Rehab Planned for Penn Ave. Building

Pittsburgh Business Times - May 13, 2011
By Tim Schooley

Todd Palcic and his Penn Renaissance LP are quickly jumping into a second residential redevelopment project Downtown.

As it pushes forward to finish a six-unit residential conversion in the 800 block of Penn Avenue call L'Enfant Lofts, Penn Renaissance closed last week on its acquisition of 524 Penn Ave., a neglected eight-story building that had been forced into foreclosure.

Palcic said Penn Renaissance closed on the 24,000-square-foot building last week for $500,000.

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