RDC Inc Acquires Development Site In Pittsburgh's North Shore For $6.32M

RDC Inc. has acquired a development site located on General Robinson Street in Pittsburgh's North Shore. The property was sold by Alco Parking and Mast Land Co. for a total price of $6,320,000. The site spans approximately 65,000 square feet, resulting in a price per square foot of $97.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $6,320,000
• Date: 08/24/2023
• Address: General Robinson Street, Pittsburgh
• Market: Pittsburgh
• Buyer: RDC Inc - Shawn Fox
• Seller: Alco Parking & Mast Land Co. - Merrill Stabile
• BSF: 65,000
• PPBSF: $97

Amid tough development conditions, RDC Inc. is advancing plans for an 11-story apartment building near PNC Park. The project, estimated to cost between $92-95 million, will feature 305 apartments and 117 parking spaces. Construction is set to begin early next year following the successful acquisition by RDC Inc.