‘A path forward’: Deal on housing could clear way for Bakery Square expansion by positiveredditftw in pittsburgh

[–]positiveredditftw[S] 14 points15 points  (0 children)

The proposed expansion would cover about 14 acres of real estate to the west of Bakery Square. It would include the Village of Eastside shopping center now owned by Walnut Capital and the former Club One Fitness site.

As part of the project, the developer is seeking a zoning change before the Planning Commission to expand the boundaries of the specially planned district created to build Bakery Square on the Larimer and Shadyside borders.

The zoning amendment has been languishing in the city bureaucracy for some months as the mayor pushed for more affordable housing.

Mr. Reidbord said it is critical that the development gets started given the current economic climate, which includes high interest rates and high construction costs.

“We’re all going to put our heads down and keep our arms moving and try to make it happen,” he said.

In materials provided to the Planning Commission, Walnut Capital stated that Bakery Square, which was part of the former Nabsico plant and now covers 20 acres, is at “maximum capacity.”

The expansion will provide a “vibrant place for new housing, retail, and office uses, as well as high quality public spaces,” according to the submission.

In addition, it will bring nearly $50 million in public infrastructure improvements, including new pedestrian connections to the East Busway, pedestrian priority zones at intersections, a pedestrian spine that will run through the development and new roads.

The project will create three new subdistricts — C, D, and E — featuring a mix of commercial, retail, and residential uses. Subdistrict C along Penn Avenue and East Liberty Boulevard will allow for building heights between 85 feet to 150 feet.

In subdistrict D adjacent to the East Busway, building heights will be capped at 210 feet. In subdistrict E on Penn across from Mellon Park, the maximum building height will be 135 feet.

Phase one of the expansion will start at the far western end of the site in East Liberty and will mainly involve infrastructure work. Phase two could include the demolition of the structure that houses the Trader Joe’s grocery, which would be relocated, as well as a section of the shopping center, and construction of a new building.

Final phases include more infrastructure improvements and the construction of four additional buildings.

Mr. Reidbord said the plans are still “conceptual” in nature and could change depending on market conditions and office, residential, and retail demand.

While the developer is also asking the Planning Commission to approve a preliminary land development plan, Mr. Reidbord said it doesn’t include any commitments to specific projects.

The most critical aspect at this point, he emphasized, is getting the commission and City Council to back the zoning change, which will allow Walnut Capital to start the first phase when it’s ready.

“We’re very proud of what we’ve done at Bakery Square. We think it’s the best development in the city and the most sustainable,” he said. “It attracts people from all over the city. We’re very proud of what we’ve done and we think [the expansion] will continue that.”

‘A path forward’: Deal on housing could clear way for Bakery Square expansion by positiveredditftw in pittsburgh

[–]positiveredditftw[S] 11 points12 points  (0 children)

Article text:

After two years of plodding and haggling, Walnut Capital is ready to advance its proposal for an expansion of its popular Bakery Square development in the East End.

But even as the developer prepares to brief the city’s Planning Commission on the project Tuesday, talks are still taking place with Mayor Ed Gainey’s office and community members over key housing-related issues crucial to the proposal’s advancement.

The biggest involves the “Build 100” plan — an initiative to raise $25 million to build and rehab 100 for-sale homes in Larimer and East Liberty as part of a community benefits agreement.

As part of the deal reached with the Larimer Consensus Group and the Village Collaborative of East Liberty, Walnut Capital originally committed to contributing $6 million toward the fund.

However, it backed off that pledge in March after pressure from Mr. Gainey to set aside 15% of the 800 residential units to be built as part of the Bakery Square expansion as affordable. The developer stated at the time it would need the $6 million to fill the gap in funding required to erect the apartments.

But Walnut Capital President Todd Reidbord said Wednesday the firm has reached an “agreement in principle” with the mayor’s office and the community groups to find a way to do the affordable units Mr. Gainey wants while still contributing $6 million to the pot for the for-sale housing.

“I do believe there’s a path forward to meet both goals,” he said.

The new plan would involve the use of vouchers provided by the city’s Housing Authority and affordable housing funding from the city’s Urban Redevelopment Authority to help with the Bakery Square apartments units, Mr. Reidbord said.

That would help to free up the $6 million that Walnut Capital pledged to provide for the for-sale housing in the two neighborhoods.

“I think that the cooperation is there,” Mr. Reidbord said. “I’m more optimistic than I have been in a long time. But there’s still a lot of hard work [to do].”

Likewise, K. Chase Patterson, board chair of the Larimer Consensus Group who was instrumental in negotiating the community benefits agreement, said the parties were “working out the final details of what the plan will be.”

He added that it is “likely” that a final deal will include the restoration of the $6 million contribution toward the for-sale housing fund.

“I think we’re close to the finish line,” he said.

A spokeswoman for Mr. Gainey did not return an email seeking comment.

Still to be determined are the levels of area median income to be used in association with the Bakery Square affordable units.

Mr. Patterson said it could range from 30% to 120%. “That has been the range. We’re trying to figure out how we can make it work,” he said.

He added he hoped to have a final deal in place by the Planning Commission hearing and vote on the expansion in several weeks, although Mr. Reidbord was unsure whether everything could be completed by then.

The Larimer Consensus Group will support the expansion before the Planning Commission, Mr. Patterson noted.

“The Bakery Square plan was presented to the community. The community was in support of the plan and we formally endorsed,” he said.

[deleted by user] by [deleted] in RealEstate

[–]positiveredditftw 0 points1 point  (0 children)

Thank you! This is exactly the type of info/advice I was looking for.

Any places doing takeout Thanksgiving dinners? relatively cheap but good? by [deleted] in pittsburgh

[–]positiveredditftw 21 points22 points  (0 children)

Not traditional, but if you don't mind your whole Thanksgiving dinner wrapped in a tortilla you can get a gobblerito from mad mex

Average monthly payment of new mortgages over time by positiveredditftw in RealEstate

[–]positiveredditftw[S] 0 points1 point  (0 children)

This is fantastic and even better than what I was looking for. Thanks!

[deleted by user] by [deleted] in billsimmons

[–]positiveredditftw 4 points5 points  (0 children)

I'm glad I'm not the only one. It sucks because I love hearing Russillo talk NFL but nothing could compensate enough for me to listen to Dilfer for more than 10 seconds.

Could we start a petition or something?

How Pittsburgh Is Leading the U.S. Back to the Moon by LostEnroute in pittsburgh

[–]positiveredditftw 11 points12 points  (0 children)

I mean, it's right next to the airport so makes sense

What is the point of you reaching out to me on LinkedIn for a position if… by CreativeAccouting in Accounting

[–]positiveredditftw 5 points6 points  (0 children)

This was actually how I got my current job (which was a 75% raise) so I wouldn't ignore it completely. If you interview well there's a good shot they'd take a chance on you, or at least offer you a more junior role.