The Pittsburgh Press from Pittsburgh, Pennsylvania • Page 126

0 H6 The Pittsburgh Press Sunday, July 15. 1984 BUILDING NOTES i if Al ParsonThe Pittsburgh Press Emsworth Manor goes condo The 78-unit Emsworth Manor complex in Emsworth, 2 rental apartments for the past 15 and 16 years, is being converted into condominiums. The buildings, located opposite each other in the 8100 block of Ohio River Boulevard, contain 1 -bedroom units selling for $29,900 and 2-bedroom units priced at $35,900. A $1,000 discount will be given to present tenants over the next 60 days, starting today. Emsworth Manor North, on the north side of the boulevard, has 12 1-bed-room units and 24 2-bedroom units.

Emsowrth Manor South contains 14 1-bedroom apartments and 28 2-bedroom apartments, plus a pool. The developer, Emsworth Manor Joint Venture, said all exterior surfaces and balconies have been repaired and painted or stained. The parking lots and walkways have been repaved and halls and entry ways painted and carpeted. Principals in the Joint Venture are AMSCO Inc. and Kenmawr Development Co.

Economy Savings in Aliquippa, is available to finance the purchases. This marks the fifth joint venture between the parties, the most recent being the condo conversion of Edgetowne Apartments in Kennedy. Downtown Elks to open new home Elks Lodge 11, dislodged from its Downtown Pittsburgh Moose Temple building as part of the Allegheny International headquarters development, has a new home today in the city's Lincoln Place area. Dedication of the new facility on Buttermilk Hollow Road is scheduled for early fall, said John Herock, exalted ruler of B.P.O. Elks 11.

Occupancy is scheduled this month in the structure, which cost in excess of $500,000 to renovate. Financing was private. The building, which formerly housed a supermarket and most recently recreational vehicles and car rentals, has regained its original colonial styling, said George C. Neuhausel, architect on the project. The mechanical systems installed will permit it to be shutdown in areas where there is no activity, thus reducing fuel costs, he said.

Parking for 140 cars is provided on the 2-acre site. A canopy covers a portion of the drive to permit discharging of passengers during inclement weather. Nursing home on Davis School site Demolition of the former Davis Elementary School on Phillips Avenue in Squirrel Hill has been completed by Crown Wrecking and Graziano Construction Co. plans to move ahead on developing a 150-bed nursing home on the site. A Graziano official said the $5.5 million project should be started by late this year or the spring of 1985 with completion late next year.

The 3-story masonry structure will be known as The Heritage. L.D. Astorino Associates is the architect. Marquis building gets first tenant The Marquis office building in Robinson has its first occupant, Interline, a wholly owned subsidiary of West. It has leased 6,000 square feet in the 3-story building, off the Parkway West near the Route 60 intersection.

Anthony Dunn, leasing manager for Kossman Development, owner of the building, said a second lease may be signed soon with another tenant to occupy the entire second floor of the building. Meanwhile, a late fall opening is projected for the first Confetti Restaurant in the area, at Kossman's Parkway Center Mall. Confetti, listed by Playboy Magazine as one of the top singles bars in Atlanta and Houston, also is located in Denver and Dallas. The mall is part of the Parkway Center complex, which is located in the city's West End area at the Green Tree line. House sales up in first half of '84 House sales in the 6-county metropolitan Pittsburgh area increased during the first half of 1984 compared to the same period last year, even if it took longer to sell the property and the average price was lower.

Dollar value of the 6,477 houses sold this year is $391.88 million, up from the $354.48 million for the 5,668 houses sold a year ago, according to statistics released by West Penn Multi-List. However, it took 109 days compared to 103 in 1983 for the house to be sold after it was placed on the market. The average price was $60,503 compared to $62,451 last year. As a result, sellers got 90 percent of the listed price this year, compared to 94 percent of the listed price in 1983. The National Association of Realtors said the average sales price of an existing single-family house was $73,300 nationally during May.

The selling price was $78,300 in the Northeast, which includes Pennsylvania. Only the West was higher, at $97,400. Club buys 21.5 acres in Upper St. Clair Hopeftil sign New, smaller firms, bring jobs 16 companies have moved into the district during the first half of the year, bringing with them approximately 650 jobs. Jay Aldridge ment growth.

Doran said some Pittsburgh-based corporations, such as West-inghouse Electric and Mobay Chemical, periodically expand their operations here. Lately, however, that expansion has been in research and development activities, although some other companies have transferred light manufacturing operations into the area. "Our skilled labor force is a big plus to the area. Many times companies learn that while the southern states may have warmer climates and even 'right-to-work' laws, they don't have the skilled people necessary for the firm to operate efficiently," Doran said. A number of new firms are locating here, according to Jay Aldridge of Penns Southwest, who said 16 companies have moved into the district during the first half of the year, bringing with them approximately 650 jobs.

to district had a practically empty 75,000 square foot building. Today, the structure is a multi-tenant complex, and half of it is leased. In the building are A.M. Castle Co. of Chicago, Total Communications Systems Contraves Goerz and Teletec Systems while leases are pending with al other firms, said Richard Stama- Ehar of Oliver Realty who andled the leasing.

Pittsburgh, however, continues to have problems. The Society of Industrial Realtors, a national organization composed of companies and individuals involved in industrial and commercial real estate sales and leasing, recently reported that little growth is expected in the district this year. The society's "Industrial Real Estate Market Survey, SpringSummer 1984," reported that the number of manufacturing plants and buildings sold during the next 12-month period would remain about the same as 1983. However, there would be a 15 percent increase in the number of vacant or unused sites sold for industrial faci-lites. Leases also would increase about 10 percent in value.

The study, prepared by Bill Burroughs of Scott McCune, along with Tom J. Murphy of Jendoco Construction, said construction costs of prime industrial buildings stayed the same as last year, benefits gram officer for LISC in New York. One of her chief duties was supervising projects in Pittsburgh. Among the projects LISC is helping to finance are the proposed conversion of a former United Parcel Service warehouse at 1000 California North Side, into a light industrial site; construction of the Saybrook Apartments, a condominium project in South Oakland; and Tom Mistick Sons' conversion of empty structures into 75 condominiums, in cooperation with the Manchester Citizens Corp. 1 In all the projects, a community non-profit agency is sponsoring the development.

"There is a distinction between What' is considered available for funding and what is not. A private business venture may not qualify but a housing development or industrial complex probably would," said Ms. Lee. While UDAG programs generally require the developer to repay the loan, funding provided through this new program will not. Brophy said that once council approves the activity, applications for the funds will be accepted.

"Within six months, we should have a lot of applications and have determined which ones are the best projects for the city." (Sam Spatter is Press real estate editor.) Within a 100-mile radius of Pittsburgh lies 26 million square feet of unused, heavy industrial facilities. Apparently, these properties will remain empty for some time. There are few parties showing local industrial realtors an interest in buying or leasing these buildings. That's the bad news. The good news is that there are plenty of smaller distribution and light industrial firms seeking space in the district.

They are looking for 5,000 to 7,000 square feet of space and, according to Edward (Ned) Doran of Oliver Realty the supply of space available in that range is drying up. There are a number of metal-clad, 1-story buildings with clear span space plus 1 loading dock per 10,000 square feet being built. The tenant pays the taxes, insurance and utilities, plus rentals fees from $4.25 to $4.50 per square foot on 5-year leases. Construction costs range from $23 to $26 per square foot and the buildings are set on a slab. "The emerging high technology and communication firms also are seeking these smaller spaces," said Doran, a vice president in the industrial real estate field.

He believes the area now must depend on smaller, light industrial or hi-tech firms for new employ- City aims PITTSBURGH MAY BE IN line to reap a second benefit from the federal government's Urban Development Action Grant program. The city has been using federal dollars supplied through the UDAG program to help finance many of its real estate projects. For example, the conversion of the Stanley Theatre, Downtown, into a Theater for the Performing will be partially funded through a $17 million UDAG. That's the first benefit. The second should appear when the money collected from developers in repayment of these loans is used in future development of city neighborhoods.

All UDAG repayments the money is considered a loan to developers must be repaid to the community, not the federal government. And, since UDAG funds have been used for a number of years in Pittsburgh, the repayments have been mounting. Recently, the Pittsburgh Urban Redevelopment Authority moved to establish procedures for disbursement of the funds. It asked its board of directors to approve 2 resolutions: One calls for the agency to enter into an agreement with the city to establish a community investment fund, using proceeds from UDAG loans. The second was to enter into for double UDAG "These are the firms we, at Penn's Southwest, have had some dealings with and the number is higher when one considers the number of firms brought here through private real estate sources," Aldridge said.

An example of private entrepre-neurship is the entrance of the Eczel Corp. through the efforts of Edwin H. Yeo Jr. of McKnight Plaza Inc. Yeo said his firm, and Monal Construction are owner-developers of the building which is being renovated for use by Eczel, a wholly-owned subsidiary of Crown Zellerbach of San Francisco.

Eczel will use the building, off Churchill and Campbells Run roads in Robinson, as a sales and distribution site of supplies for information processing systems. When American Roller Bearing Co. in the RIDC Industrial Park, O'Hara, closed its local operation, it Ssim Spatter interest if any to be charged on the UDAG funds, are based on an agreement between the city and developer. There have been cases where no interest has been charged, and in some special instances, no repayment of the loan is anticipated, Brophy said. Usually, however, the developer repays at a negotiated rate.

Giant Eagle is one firm which has been regularly repaying its UDAG loan, with interest. The firm used these funds to help build a new warehouse. The connection with LISC is important to help determine which projects should receive the funds, he added. 1 LISC is a national organization, active in about 25 locations, including Pittsburgh, said Rebecca Lee, director of URA's economic development department. Ms.

Lee knows the program. Until her appointment to the URA staff, she served, for 2 years, as a pro i '6 'isb St. Clair Country Club has acquired 21.5 acres adjacent to its property, along Old Washington and Washington roads in Upper St. Clair, from the Gilfillan estate. The club paid Margaret B.

Gilfillan and others $394,000 for the property, which it has leased for several years. The club says there are no immediate plans for use of the site. The sale was among those recorded in the office of Michael A. Delia Vecchia, Allegheny County recorder of deeds. Others were: Carnegie Robert E.

Walsh, 2-story apartment building, 830 Kennedy to Properties, $301,500. Castle Shannon Julius Herman, property along Bockstone to HLH Associates, l6th interest, $197,470. Crafton Charles R. Zihmer, 2-story, 4-family apartment, 27-33 Promenade to Satish Wadhawan, $130,800. Dormont Refah Construction, 1-story garage, 2871 Glenmore to William L.

Gray, $150,000. Elizabeth Twp. Allegheny County Industrial Development Authority, 4 acres, to Geo-Mechanics $500,000 note. Heidelberg Lawrence Ut-chel, building, 1617 Railroad Average Area House Prices Allegheny County: $60,277 Armstrong: $32,463 $49,570 $50,952 $62,032 $56,232 Beaver: Butler: Washington: Westmoreland Note: Ytr-to-date salet figures. Italo Trombetta, $130,000.

Moon West Moon Township Associates, property on Grant Drive, to John Seretti, $450,000. Mary G. McCaffrey and others, 2 2-story houses and 2 barns on 31.44 acres, 1474 Coraopolis Heights Road, to Nancy Springer Patton, half-interest, $120,000. Mt. Lebanon James F.

Ede-burn and others, apartment building, 61 Academy to Daniel C. Marino $135,000. North Fayette Colt Industries Operating 13.6 acres to Crucible Materials $1 affidavit (state sales stamps indicate $500,500 price). First National Bank Trust 1.6 acres, Potter Avenue and Stop Street, to William R. Sepich, $115,000.

Pittsburgh: Banksville Jamestown Restaurant 2-story building, Banksville Road and McMonagle Avenue, to The Pittsburgh Partnership, $435,000. Downtown Chartiers Valley Industrial Commercial Development Authority, 8-story building, 711 Penn to Guyasuta Properties, $1 affidavit (state sales stamps indicate $1.8 million). Hill District Lutheran Church-Missouri Synod, property, Pride and Watson streets, Walter M. Greissinger, $175,000. Lawrenceville Clifford L.

Anderson, 1-story building and car wash and bay, 5770 Butler to William J. Matta, $300,000. Mount Washington Mt. Washington Heights Post 5111, Veterans of Foreign Wars Home Association property Fingal Street, to Thomas C. Tighe, $155,000.

Ross Ettore R. Morelli, commercial buildings, 3189, 3221, 3225-27 Babcock Boulevard, to Allegheny County Industrial Development Authority, $875,000 affidavit. an annual contract with the Local Initiatives Support Corporation-Pittsburgh, for distribution of the funds. The next step, and the most important one, is for City Council to approve the concept. Once it does, the program can begin to function.

The involvement of LISC is important. It is the community agency which decides which programs will be funded. Initially, said Paul Brophy, URA's executive director, about $400,000 will be available. "We want to use these funds for neighborhood economic development. For the most part, they will be grants to the non-profit developer as opposed to loans," he said.

Brophy said the funds will be used to "fill in known funding gaps," such as those needed to establish a net worth for the developer, as covered by Internal Revenue Service regulations. The type of repayment required of for-profit developers, and the.