PITTSBURGH — Jordan Karlik pointed to an 8.5-by-11 map of Oakland he held out in his hand.
“Look a map,” he said. “There’s nowhere else to go.”
The map’s illustration of the dense university neighborhood all but fully built out guides Karlik’s case for his company’s proposed $170 million investment in a neighboring section of the Hill District that hasn’t see anything like that kind of investment in years, if ever.
A principal of New York-based JK Equities, LLC, a real estate firm with more than 50 years of history, Karlik added, “We think that this is sort of the natural progression.”
At a time when new housing development has yet to move forward on the Lower Hill redevelopment site of the former Civic Arena property next to downtown, JK Equities and partner Manor Park Ventures, working with local design firm TKA Architects, are pursuing what likely will qualify as the largest multifamily proposal in the Middle Hill District close to Oakland, tucked behind the VA Healthcare complex and the upper campus of the University of Pittsburgh.
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