Walnut Capital poised to move forward on the South Side and in the East End

PITTSBURGH — Walnut Capital Partners will provide something of a double feature at the Pittsburgh Planning Commission meeting next Tuesday.

While the new agenda includes a hearing and vote on the local development firm’s proposal to build a 199-unit apartment complex on Penn Avenue as part of its plans to extend Bakery Square, Walnut Capital will also brief the commission on its next project called the James Flats, a 200-unit apartment redevelopment of a former hospital property on the South Side.

With construction nearing completion on the Caroline, Walnut Capital has been preparing for a major multifamily redevelopment of the one-time UPMC Mercy South Side complex on Mary Street since it bought the vacated medical complex in late 2023 for $9.35 million.