By this time next year, Dennis Spyra will be able to roll out of bed and tumble into his office on First Avenue, Downtown, or so it might seem.
As one of the Golden Triangle's newest residents, Mr. Spyra's home will be right across the street -- in the 151 First Side condominium tower that's under construction.
With two daughters in college, Mr. Spyra and his wife will be trading in their Squirrel Hill house for a three-bedroom condo on the eighth floor with views of the Monongahela River, Station Square and Mount Washington.
Mr. Spyra, an attorney, said he always had a nice view of Station Square from his third-floor office -- until the 151 First Side construction blocked it.
"I had to buy the condo to keep my view," he joked.
He was one of a half- dozen or so buyers to gather with a host of dignitaries, including Pittsburgh Mayor Luke Ravenstahl, in the dwindling afternoon light yesterday to watch the last steel beam put in place on the 18-story high-rise.
No one was happier than 151 First Side developer Ralph Falbo, who is more than half way home in his effort to fill the $26 million structure as he heads toward a mid-summer opening.
The head of Ralph A. Falbo Inc. said he has sold 47 of the 80 units in the building on Fort Pitt Boulevard near Stanwix Street. Prices range from $180,000 to $1.8 million for a top-floor penthouse facing the river. He had estimated it would take three years from the building's ground-breaking in September 2005 to sell all 80 units. With 58 percent of them sold at this point, "we're ahead of schedule," he said.
Those 47 units have buyers even though the 15th and 16th floors, each with six units, have yet to be offered for sale. They are just now going on the market, priced from $310,000 for a one-bedroom condo to $700,000 for a three-bedroom with a river vista.
Most of those sold are on lower floors. One exception is a top-floor penthouse facing Downtown. It fetched $1.3 million. Buyers have come from as far as San Francisco and New York City. About 40 percent are from out of town, though most have some connection to the area, Mr. Falbo said.
Mr. Ravenstahl is hoping yesterday's "topping off" ceremony will signal a new momentum for Downtown, one propelled by people first.
"We obviously have seen that we failed miserably, for example, when we did the Lazarus building because it was a concept that just didn't work," he said at a news conference earlier in the day. "To have individuals in Downtown Pittsburgh on a 24-hour, seven-day-a-week basis is something that we need."
The 151 First Side tower is just one of several luxury condominium projects under development Downtown. In all, some 250 condos are under construction or in final development stages. And another 1,285 condos or apartment units are being planned.
"I think people are excited about investing in Pittsburgh and really living in the Downtown area," the mayor said.
The mayor acknowledged a need for more affordable housing. He supports Millcraft Industries, the developer of the old G.C. Murphy store on Fifth Avenue, in switching from condos to apartments targeting renters with incomes of $40,000 to $50,000 a year. Rents will range from $750 to $1,500 a month, said Lucas Piatt, Millcraft's vice president of real estate.
John and Christianna Elash are trading in their Carnegie home for a condo at 151 First Side. They are looking forward to the day they can walk to work -- she to Gateway Center, he to the Allegheny County Courthouse -- and kayak to Station Square or the South Side for recreation.
And they're thrilled about being able to trade their rush-hour commute for a lingering cup of coffee.
"We plan on staying in Pittsburgh a long time and having a family here. This is just absolutely perfect for us. We're not going anywhere," Mr. Elash said.
