A place to post good news and prevent doom scrolling!
Rules for now:
This is a really cool project, but I can't help but wonder about the numbers. 1,400/month for a 1 bedroom when there are rentals for <1k nearby, closer to Pittsburgh proper. And the same price point will get you a place inside the city, if that's where you work.
would have been nice to see a project like this turn into a co-op instead of trendy market rate rentals.
Yea, this isn't as simple as it appears.
A building like that would have all sorts of remediation challenges, just from sitting vacant for 10 years. I'm surprised it could be remediated without major costs - that's often a big challenge in reusing/repurposing old buildings.
It's not like 3 random dudes bought a building and refurbed it, these guys have the background (and financing), to the tune of 3.3 mil to rehab the place. Just getting it to meet code for a multi-tenant dwelling (instead of a school which is how it was originally zoned), is quite an accomplishment, and could've been enough to stall such a project. I'm impressed - I can only imagine all the potential showstoppers that could've popped up anytime along the way.
To your point about the rental costs, surely their financer(s) had to look at their plans and determine whether it could generate the income necessary to repay the loan.
It would be interesting to see their project plans and get a sense of everything this kind of project encompasses.
One of my dreams is an NGO or government agency that builds high density housing and rents it at cost. Then uses the income and donations to scale the process up until it's a major player in the housing market.
Alas, I do not have access to millions of dollars in funding.
Looking at the pictures of the one apartment that they showed, the rent seems pretty reasonable. It would be nice if it was made more affordable to the average person, but it's not crazy expensive either.
The building also has a gym and a common area that do add value to what you get. I imagine the place also had a cafeteria, but it doesn't say what they did with it.
Personally I'd have probably retro fitted it into a server room to help recoup some of the costs.
"Three millennials become slumlords"
Wow, I'm uplifted
If this apartment building is what you consider slums, you must be super rich.
Lol, give it a decade, you'll see what happens.
I have been aware of that area of Homestead for decades, and it has slowly been getting a lot better since the 80s/early 90s. The area it is in is the gentrified part that has been steadily getting more wealth, and less QOL issues, for decades now. It is on 9th right between west and amity, just up from the waterfront.
Pessimist
Landlord simp
lol sure
simps for landlords
"How dare you accuse me of simping for landlords"
go be stupid somewhere else
Yeah, because I care what your bootlicking ass thinks lol
moron
I know you are but what am I?
(When talking to a landlord simp you have to stoop a little)
moron
Ah, out of options already?
This bot sucks.
moron
Lol, takes three millennials to buy real estate 🥁🥁🛎️
you think they built it themselves?
No, I was just riffing on the fact that millennials have little chance of owning real estate, so it takes multiple of them to even have a chance. https://highline.huffingtonpost.com/articles/en/poor-millennials/ if you'd like to read a bit about it in an interactive way.
"We were never allowed to live in my old school!" - Phoebe
While this is wholesome, fuck this AI article. There's absolutely no human alive that would accidentally type cost instead of caused.
I watch confirmed humans type "should of" every fucking day.
I am humans lmao, I can see that. I feel like what I said is a bit more of a stretch, but from a proofreading/editors standpoint, it's not excusable.
Bonus story, in fifth grade, I had to write an essay and I swear to god I wrote "ov" instead of "of" and I had an internal battle about which it should be knowing damn well how to spell much more complex words. After I settled it, I could feel my ears get hot from the embarrassment of even having to deal with it. I wrote ov naturally, then just saw it in writing and was like no, there's no way. Then I erased it and wrote of, then thought no fucking way, there's no way they landed on 'f' for a 'v' sound.
English is and always will be German, French, and Spanish in a trenchcoat pretending to be one language.
I concede. I just typed "I" instead of "eye" in a comment. U right.
It might be possible that a human dictated it and the speech-to-text program transcribed it that way; in most American accents those words are near perfect homophones. Still, -10 points for failure to proofread.
You may be on to something. But yes, imagine your whole job is to read, rather than write/read/write/read and you still miss this and many others.
Brilliant.