A developer wants to turn a vacant riverfront building formerly owned by famed billionaire Mark Cuban on Pittsburgh’s Fort Duquesne Boulevard into a 100-plus unit apartment building.
Douglas Development Corp. of Washington, DC, purchased the Downtown building at 642 Fort Duquesne Blvd. Terms of the agreement, which was reached late last year, were not published on the Allegheny County Real Estate website. The nine-story building belonged to Mark Cuban, a native of Mount Lebanon, owner of the Dallas Mavericks and star of “Shark Tank”.
Plans for the site include redeveloping the building, which is more than 100 years old, to house 137 market-priced 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 storefronts at street level to replace the existing garage doors. The building will also have a pavilion and a roof terrace.
“It’s completely demolished inside,” Gardiner said, adding that the exterior “is going to need some overhaul and rehabilitation.”
Pittsburgh-based Strada Architecture will lead the redevelopment work.
“The location is obviously amazing with great river and river views,” Gardiner said. “We like the structure of the building and its historic character. We believe Pittsburgh is an incredible market with a large, diverse and active population in need of housing. »
Pending 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 downtown,” said Jeremy Waldrup, President and CEO of the Pittsburgh Downtown Partnership. “As the commercial hub of the region, the Golden Triangle continues to evolve into a more diverse, mixed-use neighborhood that offers unique experiences that make it a thriving place for business and retail, as well as for residents and visitors.