PITTSBURGH — A developer has purchased the Jewish Federation of Greater Pittsburgh’s headquarters in Oakland with intentions to turn the property into a development similar to Bakery Square.
Walnut Capital bought the building not far from the University of Pittsburgh and Carnegie Mellon University, meaning the Jewish Federation will relocate after 50 years.
While the sale has been approved, the Jewish Federation has three years to move out. It had been asking $4 million for two buildings on McKee Place.
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“One of the reasons we chose Walnut Capital is they have a reputation for being very community-minded. Really, it's up to Walnut Capital to do what they will with the space,” Adam Hertzman, director of marketing at the Jewish Federation, said.
Walnut Capital President Todd Reibold said that ideally he’d like a tech company to move into the buildings that will be redeveloped -- much like Google in Bakery Square. A medical or pharmaceutical company that would pair well with UPMC would also be welcomed.
Meanwhile, the Jewish Federation wants to relocate to a space closer to Jewish communities.