PITTSBURGH — New York-based developer Victrix LLC made its first presentation of its plan to convert the more than 310,000-square-foot office building at 300 Sixth Ave. downtown into a new apartment project.
The company presented its proposal to a development activities meeting of the Downtown Pittsburgh Partnership, revealing plans that call for restoring much of the exterior of the 1904 building in order to be eligible for historic tax credits, as well as buying the rights to add to the number of apartments in the 15-story structure.
“Right now, the property will be by right allowed to develop 216 units,” Kevin McKeegan, a lawyer who represents Victrix in the project, told the PDP Zoom meeting. “And we will be pursuing the rights to develop the 249 units that are part of the project.”
It’s a strategy that’s been pursued in a number of projects downtown in which a building owner can buy the rights for additional apartment units from another downtown property owner not using them elsewhere.
Read more in the Pittsburgh Business Times.
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