A developer wants to transform a vacant riverfront building formerly owned by celebrity billionaire Mark Cuban on Pittsburgh’s Fort Duquesne Boulevard into an apartment building with more than 100 units.
Douglas Development Corp. of Washington, D.C., bought the Downtown building at 642 Fort Duquesne Blvd. Terms of the deal, which closed late last year, were not posted on the Allegheny County Real Estate website. The nine-story building had been owned by Mt. Lebanon native Mark Cuban, owner of the Dallas Mavericks and a star on “Shark Tank.”
Plans for the site include redeveloping the building, which is more than 100 years old, to house 137 market-rate apartments, said Phillip Gardiner, director of development and construction at Douglas Development.
Improvements will include replacing windows, installing new elevators, repairing the brick facade and adding new street-level storefront windows to replace existing garage doors. The building also will get a rooftop pavilion and deck.
“It’s completely demolished inside,” Gardiner said, adding that the outside “is going to need an overhaul and a rehabilitation.”
Pittsburgh-based Strada Architecture will spearhead the redevelopment work.
“The location is obviously incredible with great views of the river and across the river,” Gardiner said. “We like the building’s bones and its historic nature. We think Pittsburgh is an incredible market with a great, diverse and active demographic that is in need of housing.”
Pending the necessary approvals, Douglas Development hopes to begin construction in early summer, Gardiner said. He declined to say how much the company paid for the building or how much construction is expected to cost.
“The proposed project will be a great addition to the Cultural District and to Downtown,” said Jeremy Waldrup, president and CEO of the Pittsburgh Downtown Partnership. “As the center of commerce for the region, the Golden Triangle continues to evolve into a more diverse and mixed-use district that provides unique experiences that make it a thriving place for business and retail, as well as residents and visitors.”
