A new green condo project will soon be underway in the heart of the Penn Avenue Arts District. Friendship Development Associates (FDA) has just secured construction financing for The Glass Lofts, which will feature 18 for-sale lofts, a 3,200-square-foot restaurant, artist studios, and 1,200 square feet of office space. Demolition of blighted properties located at the corner of Penn Ave. and N. Fairmount St. will begin within the next two weeks, with groundbreaking expected within 30 days.
The second phase of 3.2-acre project that includes the 60-unit Penn Fairmont, The Glass Lofts will include one- and two-story lofts ranging in size from 845 to 1,873 square feet. Amenities include concrete flooring, retractable glass garage doors, balconies, and skylights. Residents will have access to a common room, as well as private internal garages and rear parking areas. Featuring modern architecture designed by Arthur Lubetz Architects, the $6.4 million project will also include high-efficiency heating and cooling and environmentally low-impact materials. Contractor is Sota Construction Services, a leader in green building.
Affordable financing is available for qualified buyers; buyers will pay no local or state income or property taxes through 2010. Lofts, which will be a mix of market rate and affordable units, will sell for between $180,000 and $330,000. Three sales agreeements are already in place. The project is being marketed by FDA and We Do Property Management, Inc.
Located near the Pittsburgh Glass Center, Dance Alloy Theater, Quiet Storm Coffeehouse, and a variety of shops, schools and hospitals, The Glass Lofts is situated within a Pennsylvania KIZ zone. The result of a series of community input sessions, during which project planners discussed neighborhood needs, The Glass Lofts/Penn Fairmont project brings much-needed senior housing, restaurant, retail and office space, for-sale condos, green space, and adequate parking to Friendship.
Source: Pop City Media