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N.Y.-Based Company Hopes To Boost Urban Living In Pittsburgh

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(Photo Credit: KDKA)

(Photo Credit: KDKA)

PITTSBURGH (KDKA) – A New York-based real estate company is investing even more in properties it owns in Pittsburgh.

Faros properties is overhauling two properties in hopes of drawing more people to the city.

It’s overhauling the Allegheny Center Apartments and the Washington Plaza Apartments.

They haven’t had any material changes since they were built in the ‘60s.

The buildings will feature new amenities, including lounges, gyms and roof decks – as well as improvements in each apartment.

“We want to invest in places that have smart people and Pittsburgh is one of those places,” said Faros Properties Managing Partner Jeremy Leventhal.

“There is a renaissance going on in Pittsburgh and it’s not about sky scrapers, although that is happening too, it’s about looking for an urban lifestyle,” said Pittsburgh Mayor Bill Peduto, “people that want to be inside of the city not moving out of the city.”

Allegheny Center will be renamed “Park View” apartments.

And Washington Plaza will now be called “City View” apartments.

They’re looking to complete the renovations within the next few months.

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