Oxford Development doubles down on upscale apartments in SouthSide Works
Mayor Bill Peduto on Friday said he might have been way off the mark with his initiative to draw 20,000 new residents to Pittsburgh over the next decade.
“That goal of 20,000 is a low bar,” Peduto said at a ceremony Oxford Development Co. held to mark the start of a $29 million, 117-unit apartment building in the SouthSide Works. Peduto did not provide an updated estimate.
Peduto said Oxford and Shadyside's Walnut Capital Partners, which will manage the upscale apartments known as Hot Metal Flats when it opens next May, have a combined 1,000 housing units in various stages of development across the city. Other developers have thousands more.
Peduto says the city's research shows demand for at least 5,000 units of upscale, amenity-laden apartments like those planned at Hot Metal Flats. Demand is also strong for more affordable options, he said.
“It's a vibrant new community in the South Side,” Oxford vice president of real estate Grant Mason said at Friday's ceremony, held across the street from the corner site at Hot Metal and Sidney streets where construction of Hot Metal Flats is under way.
Shawn Fox, director of business development and marketing for Downtown-based Oxford, said the company is planning more high-end apartments on the site where Friday's ceremony was held. It has an option to buy the vacant site from the city's Urban Redevelopment Authority.
Oxford originally planned to use the land as a parking lot for an office building planned at the corner of Sidney and Hot Metal. Oxford scrapped the office plans last year in favor of building Hot Metal Flats.
Fox said Oxford plans to submit an apartment development proposal to the URA in August or September. He could not provide specifics such as the cost of the project and how many apartments it would include, noting planning remains preliminary. Fox said the land for the proposed apartment building is larger than the Hot Metal Flats property. The proposed building would feature more amenities than ones planned at Hot Metal Flats, he said.
Hot Metal Flats will include studio, one- and two-bedroom apartments with average monthly rents ranging from $1,100 to $2,200. Aside from easy access to the South Side's vibrant restaurant and bar scene and the city's riverfront trail network, amenities will include a bicycle storage and repair area, pet-washing areas, a fitness center and an outdoor lounge with a sun deck and cooking grills.
Other apartment buildings planned in SouthSide Works include the 264-unit building by Village Green Holding LLC of Farmington, Mich., and a 56-unit building by 3030 South Water LP, which includes Downtown developer Ralph Falbo.
Tom Fontaine is a staff writer for Trib Total Media. He can be reached at 412-320-7847 or firstname.lastname@example.org.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Steelers notebook: Injuries finally become issue at training camp
- Pirates notebook: New acquisition Happ more than happy to fill spot in rotation
- Architecture: Visionaries saw buildings but not the political surroundings
- Gameday: Pirates at Reds, Aug. 2, 2015
- Western Pa. prosecutors zero in on human trafficking; legislation pending
- Road Trip! Destination: Cuyahoga Valley National Park
- East Liberty native steps off Broadway to bring ‘Kinky Boots’ home
- Zimbabwe suspends hunts amid outcry over lion’s death
- Bin Laden relatives among crash casualties
- Inside the Steelers: QB Jones continues to get majority of snaps
- Former Steeler Mendenhall relishes writing for HBO’s ‘Ballers’