PITTSBURGH, PA — Point Park University has purchased the former CVS building at Smithfield Street and Forbes Avenue, a move city officials say will expand the university presence in Downtown Pittsburgh.
The three-story, 42,440-square-foot building was constructed in 1956 and occupies nearly a full block along Smithfield Street. It sits next to the Pittsburgh Playhouse, and Point Park said the proximity creates possibilities for future university use.
The purchase grew out of Mayor Corey O’Connor’s Main & Main initiative. According to the city, the administration identified the vacant property as a redevelopment opportunity and worked with Point Park and the Urban Redevelopment Authority after the owners expressed interest in selling.
Point Park closed on the purchase Wednesday. The university said donations from the Allegheny Foundation and The Burke Foundations made the acquisition possible, with additional benefactors expected to be announced later.
The city is also preparing to begin a reconstruction and modernization of Smithfield Street and its sidewalks later this month. Point Park said plans for the newly acquired building will be announced later.
Official source: City of Pittsburgh
Featured image: Pittsburgh Playhouse on Forbes Avenue in Downtown Pittsburgh. File photo by Cbaile19 via Wikimedia Commons, CC0.
The Pittsburgh Times
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Pittsburgh, PA
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