Downtown investor gets started on Penn Avenue residential conversion project

PITTSBURGH — Aaron Stauber preempted a common perspective when it comes to what it takes to convert mature office buildings in downtown Pittsburgh into new residential properties.

“If you’re standing on the outside and you’re wondering how come these projects don’t happen, that’s because you’re not inside doing the project,” said Stauber, president and principal of Rugby Realty Co. Inc. “If you were, you would know why some of these projects are not happening like that.”

It was an introduction he offered as Rugby, working with Walnut Capital Partners and a development team that also includes Desmone Architects and Strada, with PJ Dick as the builder, held a ceremony Wednesday to commemorate the start of the buildout of 933 Penn Ave. into a 70-unit apartment building.