PITTSBURGH \u2014 Point Park University has purchased the former CVS building at the corner of Smithfield Street and Forbes Avenue in Downtown Pittsburgh. <\/p>\n
The acquisition expands the university\u2019s campus footprint adjacent to the Pittsburgh Playhouse.<\/p>\n
The university worked with the O\u2019Connor administration and the Urban Redevelopment Authority to acquire the vacant property. The purchase was funded through donations from the Allegheny Foundation and The Burke Foundations, with the sale closing ahead of a presentation to the URA Board of Directors.<\/p>\n
Constructed in 1956, the three-story, 42,440-square-foot building encompasses nearly an entire city block along Smithfield Street.<\/p>\n
City officials and project partners are scheduled to break ground on a complete reconstruction and modernization of Smithfield Street and its sidewalks later this month.<\/p>\n
Pittsburgh Mayor Corey O\u2019Connor described the purchase as an opportunity to revitalize a key Downtown intersection. <\/p>\n
\u201cMain & Main is my vision for growth across the City of Pittsburgh, and I knew there was an opportunity to bring new life to this long-vacant storefront that\u2019s at the corner of two main Downtown corridors,\u201d O\u2019Connor said. \u201cWe\u2019ve seen how Point Park University\u2019s investments have brought vibrancy to Downtown, from the Pittsburgh Playhouse to new housing and now the purchase of this cornerstone property. I\u2019d like to thank Point Park for once again stepping up and partnering with my administration to invest in the future of our city.\u201d<\/p>\n
Point Park University President Chris W. Brussalis emphasized the importance of the property\u2019s location next to the Pittsburgh Playhouse.<\/p>\n
\u201cPoint Park University is part of the fabric of Downtown Pittsburgh and this investment allows us to expand while doing our part to ensure Downtown remains strong and vibrant,\u201d Brussalis said. \u201cWe are excited about the possibilities the building provides us, particularly because of its close proximity to the Pittsburgh Playhouse.\u201d<\/p>\n
Point Park University plans to announce specific development plans for the building at a later date.<\/p>\n
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