Lackluster sales in Pittsburgh's luxury condominium market haven't dissuaded developers from betting on the continued demand for residences in the city's downtown. A 95 percent occupancy rate in rental buildings is driving apartment construction.
"These days, it seems, just about everybody wants to build apartments Downtown."
This sentence could likely be said about dozens of cities across America, as developers strive to keep up with swelling downtown populations. In the case of this article, Mark Belko chronicles the surge in apartment development in Pittsburgh's Golden Triangle. With nearly 1,000 new apartments in the pipeline, on top of 2,262 existing units, some are asking "[j]ust how many apartment units can Downtown support?"
"'They're renting as fast as they can get them built,' said Carole
Clifford, an associate broker for Stonebridge Realty, who follows the
market closely."
"Ms. Clifford sees a 'rental economy' Downtown and
elsewhere in the region for the next five to 10 years. Factors driving
that include the difficulty in getting mortgage money, the high down
payments required for home buying and a transient population more
comfortable with renting than buying."
"We're not even at the top of the curve yet in the rental market," she said. "I think rental is the new normal. I really do."
FULL STORY: Apartment boom continues in Downtown Pittsburgh
The Next Step in Downtown Pittsburgh's Resurgence: Build More Parking?
With an approaching mayoral transition, Mark Belko looks at what Pittsburgh's next leader will need to focus on to keep downtown's rejuvenation rolling. Should building more parking be at the top of the list?
As New Rental Units Hit the Market, Rent Growth Slows in Pittsburgh
A new report from CBRE analyzing the Pittsburgh rental market lends evidence to the house of pro-supply arguments.
Downtown Pittsburgh: Back and Better Than Ever
Mark Belko traces downtown Pittsburgh's rejuvenation since bottoming out three decades ago. The area's recent comeback, marked by a surging office market and residential renaissance, has some claiming that Downtown is better than ever.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.
MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie