Curbside cafes pulsate with the beats of a live jazz band, athletes training for a marathon breeze down The Strip District corridors on a daily, evening run; cars form a steady rivulet of traffic while they wait to enter parking spots on Smallman & Penn; as the sun sets, people gather on their terraces & rooftop decks overlooking the city/river while a drummer syncopates the night with a heartbeat that beckons a new spring. This isn’t New York, Chicago, or New Orleans: it’s the Strip District Pittsburgh, and what’s happening right under our noses is a transformation no one would have predicted a decade ago.
New Construction & Resale in the Strip are booming, and it’s no wonder since residents there boast about the advantages and unprecedented reputation as a “luxury” community. So, what are some reasons savvy buyers are finally making the switch to living in The Strip?
Convenience
It’s no secret: commuting on any of the major highways leading to The Strip can be downright misery during construction, inclement weather, or on game days. Professionals living in The Strip have no commute and spend their time gathering for cocktails, dinner, and theater shows.
Prestige
Living in The Strip isn’t about cutting costs (except on the fuel saved by walking or biking), rather, it’s about purchasing a new lifestyle. There’s an air of sophistication and prestige associated with urban living in The Strip District of Pittsburgh. A Strip District pied-a-terre is an investment, but it’s also an image upgrade.
Price
Those who bought yesterday are going to benefit big time tomorrow. Sale prices have been rising consistently year by year, and some condos that sold in the $250K arena are slated to sell between $400K-$500K and many more in the $1 million plus bracket. Doubling on your investment? That would be a no-brainer for people looking to make a pretty penny on a neighborhood that has begun to practically sell itself to potential owners.
So, while you schlep your way back to your car on a brutally cold February evening or some beastly hot August afternoon, take a good look around at the people sitting in the air-conditioned windows of their custom condos sipping mojitos. A look will say it all, and what they’re saying is something you may have heard before. It’s not just a home but a lifestyle!
For your perusal if needed (Stats):
The Strip District Housing & Population report courtesy of the Strip District Neighbors:
- 1,920 residents
- 150% increase in residents since 2015
- 1,425 residential units
- 1,258 residential units in the pipeline
- Average rents:
- Studio: $1,511
- One-bedroom: $1,815
- Two-bedroom: $2,481
- $484,900 median list price of a home
