www.pittsburghlive.com/x/tribune-review/business/s_2517 -
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Published on: 9/16/2004
Last Visited: 9/16/2004
Kevin Keane participates in a groundbreaking ceremony
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That's the word J. Kevin McMahon, chief executive officer of the Pittsburgh Cultural Trust, used when describing the building being developed by Kevin Keane of Lincoln Property Co., at an event marking the start of construction in the Downtown Cultural District.
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Keane said the 151-unit apartment building, at Seventh Street and Fort Duquesne Boulevard, will offer one-bedroom, one-bath apartments that average 800 square feet, and two-bedroom, two-bath units measuring 1,200 square feet.In addition, there will be two penthouse apartments of 1,650 square feet with two bedrooms and two baths.
Rents will range from $1,100 to $3,700 with the average rent at $1,730.
"We will begin pre-leasing of the units in the fall of 2005 and hope to begin occupancy in the spring of 2006," Keane said.
Plans call for ground-floor retail, an outdoor terrace for residents, a fitness center and clubhouse.Each unit will have a balcony and 82 units will have views up and down the Allegheny River.
Keane said Bank of America is providing the first mortgage loan of $24.5 million.