Point Park University Buys Prominent Downtown Pittsburgh Building

PITTSBURGH, PA — It's a building located at one of most well-known and heavily traveled intersections in Downtown Pittsburgh - and now it belongs to Point Park University.

University officials and Mayor Corey O'Connor announced Thursday that the university has purchased the former CVS building at the corner of Smithfield Street and Forbes Avenue. The building is adjacent to Point Park's Pittsburgh Playhouse.

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Built in 1956, the three-story 42,440-square-foot building encompasses nearly a full city block of Smithfield Street, where the city is set to break ground on a complete reconstruction and modernization of the street and sidewalks later this month.

As part of O'Connor's Main & Main initiative, the Administration identified the vacant building as an opportunity for renewal at the important intersection. The redevelopment team proactively engaged with the property owners, who expressed interest in selling.

Point Park University worked with the O'Connor Administration and the Urban Redevelopment Authority to purchase the building.

"Point Park University is part of the fabric of Downtown Pittsburgh, and this investment allows us to expand while doing our part to ensure Downtown remains strong and vibrant," Point Park President Chris Brussalis said in a release. "We are excited about the possibilities the building provides us, particularly because of its close proximity to the Pittsburgh Playhouse."

O'Connor said he realized there was an opportunity to bring new life to the long-vacant storefront at the corner of two main Downtown intersections.

"We've seen how Point Park University's investments have brought vibrancy to Downtown, from the Pittsburgh Playhouse to new housing and now the purchase of this cornerstone property," he said. "I'd like to thank Point Park for once again stepping up and partnering with my administration to invest in the future of our city."

Point Park closed on the sale of the building Wednesday. The university will announce plans for the building at a later date.