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mjcatl2

Early sale of condos in First Side building signals boom, developer says

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http://www.post-gazette.com/pg/05300/595676.stm

Called 151 First Side, the 18-story high-rise overlooking the Monongahela River has exceeded pre-sale goals, with 30 of the 82 condos under contract 15 to 18 months before the first units will be completed.

With 151 First Side under construction, Mr. Falbo already is looking for an opportunity to build a second condominium building Downtown.

He has approached the Pittsburgh Task Force, the private group working to revitalize the deteriorating Fifth and Forbes avenues retail corridor, with a proposal to put an upscale grocery offering fresh meat, fish, vegetables, prepared foods and other items, and 39 condominiums at the old G.C. Murphy's store on Fifth Avenue.

:D

GC Murphy's is the obvious place for a downtown market. Finally, things are coming together.

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GC Murphy's is the obvious place for a downtown market. Finally, things are coming together.

Here's some inside information for ya'll. Ralph Falbo made a very early pitch to get the G.C. Murphy's building. HOWEVER, the URA, Tom Cox, and the "Pittsburgh Task Force" all basicaly told him there was no way he was getting it :wacko:. Now that Madison Marquette is on board, they are making on last ditch effort to get a developer to take ALL the parcels at once. Although I've heard, and am very impressed with Falbo's vision for the Murphy building, there is very little chance he's going to get the ability to put a plan in action unless MM pulled out, or enough time passes that the next mayor gets into office.

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^^Tooluther, first I ever heard of this guy, you got any link? I know that the URA dismissed some developers from the project a number of years ago with the whole "Fifth Forbes" fiasco. Let me know if you have any more 411 on this guy, I'm curious now to see what his plan was :).

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Ralph has been developing in Pittsburgh since the 70's. Apparently, his previous experiance has been mostly low-income housing. I met him this summer durring my internship, and he was a very stand up guy. He is absolutly committed to his first side project. He belives that 151 will help spur the first ave district into a cool river front residential community.

Here's some info on him...Ralph A. Falco, INC

As for the deal with the URA...that wasn't published, its just some insid information for y'all

If you happen to see him sometime, put in a good word for me, I'm trying to get a job with him next may! :ph34r:

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