Tuesday, August 3, 2010

Former State Office Building to be Apartment Building

Millcraft Industries has announced their hopes of beginning the reconstruction of the former State Office Building, downtown Pittsburgh, into an apartment building this fall. Millcraft bought the building from Pennsylvania for $4.6 million in March. The project is named Rivervue.
Chief Operating Officer Lucas Piatt says Millcraft believes in adaptive reuse—they take old structures and make them new and useful again. He says the downtown area seems to be having a “residential renaissance” right now, and there’s a great market in housing. He says the former state office building has the ideal location as its views are “arguably the best in the city,” and the layout of the units will most likely go “unmatched” in the city.
The 218-unit project should take about 16 months according to Piatt, however they’ll probably start leasing about 6 months before it is finished.
Piatt says 75% of units will be one-bedroom, and the rest will be two. There are plans to have two-story town homes on the top floors of the building, as well. He says unit prices will range from $800 to $3,000 per month.

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