The NRP Group and The Buncher Company Break Ground on The District, Phase 2 of Upscale Rental Apartment Community on Pittsburgh’s Robotics Row
PITTSBURGH, Nov. 19, 2019 /PRNewswire/ -- The NRP Group, the vertically-integrated, best-in-class national developer, builder and manager of multifamily housing, and its partner The Buncher Company, a regional leader in service-oriented businesses and real estate development, have broken ground on The District. The 442-unit rental apartment community is in the heart of Robotics Row in the Strip District neighborhood of Pittsburgh, a hub for tech companies and startups on the cutting edge of manufacturing automation, self-driving cars, and artificial intelligence.
Located on Waterfront Place between Edge1909 and the 16th Street Bridge along the Three Rivers Heritage Trail on the Allegheny River, The District is part of a larger 28-acre master-planned development. The community will be within walking distance of the city’s cultural district, downtown employment, sports venues, and the restaurant and nightlife scene.
Known as Riverfront Landing, the development is bringing more than 800 luxury apartments, 46 high-end townhomes, and 1 million square feet of office space, hotels and retail.
“It’s an exciting time in Pittsburgh, and the Strip District is unquestionably one of the most dynamic neighborhoods in the city thanks to its unparalleled proximity to the central business district and adjacent Lawrenceville,” said P. Christopher Dirr, Sr. Vice President of Development at The NRP Group. “We are happy to play a role in the neighborhood’s continued emergence as a ‘neighborhood of choice’ to work, play, and live in Western Pennsylvania.”
Last year, the partnership completed and opened Edge1909, a 365-unit rental apartment community and Riverfront Landing’s first residential phase.
Featuring a mix of studios, one-, and two-bedroom floor plans, including ground-floor street accessible units and penthouse lofts, The District will offer panoramic views of the downtown Pittsburgh skyline, the Allegheny River and the iconic Strip District.
The NRP Group is developing The District with equity partner The Buncher Company and construction financing provided by Dollar Bank.
“The arrival of Edge1909 proved to be a successful partnership between NRP and Buncher that resulted in a great outcome,” said Michael Kutzer, Vice President of Real Estate for The Buncher Company. “We are excited for the second phase of this development and the role that it will play in the future of the Strip District.”
Amenities will include secured indoor parking with electric car charging stations, a resort-style pool, outdoor kitchens with BBQ gas grills, top-floor sky lounge with an outdoor terrace, fitness rooms, club room with kitchen, cyber lounge with individual work pods, a Package Concierge room, pet and car wash stations, bike storage and fix-it station, and kayak storage with access to the nearby boat launch on the Allegheny River.
“We are grateful for the assistance provided by Ronald J. Tarquinio at TarquinCoRE, Rocco Magrino and his team at PVE Sheffler, BKV Group Architects, and our finance partners at Dollar Bank,” Dirr said. “Working together with County Executive Rich Fitzgerald, Mayor Bill Peduto and his administration, Councilmember Deborah Gross and the Common Council, Strip District Neighbors, Riverlife, and the Greater Pittsburgh community, we embrace the mission of improving the community by providing innovative solutions to a wide range of housing needs in the area.”
The District is scheduled for completion in 2021.
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing. Since its founding in 1994, NRP has delivered more than 35,000 apartment homes, and currently manages over 20,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental housing opportunities for individuals and families, regardless of income.
Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, and senior housing. As a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive, NRP is leveraging its decades of practice by also providing construction and property management services to outside owners and developers. For additional information visit www.nrpgroup.com.
About The Buncher Company
Founded in 1949 by Jack G. Buncher, The Buncher Company and its lines of business include development and leasing of office, multi-family residential, industrial, distribution, flex and warehouse buildings, hospitality, steel fabrication, railcar maintenance and railcar parts reconditioning.
About Dollar Bank
Dollar Bank has assets of more than $9 billion. Today, Dollar Bank operates more than 70 locations throughout Pennsylvania, Ohio and Virginia and has over 1,300 employees. For more than 160 years, Dollar Bank has grown to become a large, full service, regional bank committed to providing the highest quality of banking services to individuals and businesses. Dedicated to aiding the communities it serves, Dollar Bank supports quality of life initiatives, financial literacy programs and organizations dedicated to helping individuals and families in need. Dollar Bank (www.dollar.bank) is headquartered in Pittsburgh, Pennsylvania.
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SOURCE The NRP Group