Pitt committee backs recommendation to redevelop 3401 Boulevard of the Allies with housing and grocery

The University of Pittsburgh's Property and Facilities Committee voted to recommend full Board of Trustees approval of a redevelopment plan for the university-owned property at 3401 Boulevard of the Allies in Oakland that would include approximately 240 to 260 apartments and a 15,000- to 30,000-square-foot grocery, committee members were told.

The project matters because the 1.83-acre site is a prominent gateway parcel for the Oakland neighborhood, the university said, and the proposed ground-lease structure would require no direct capital commitment from the university while providing long-term commercial income and neighborhood-serving retail and housing.

Dr. Dwayne Pinkney, Executive Senior Vice Chancellor for Administration and Finance and Chief Financial Officer, told the committee the university owns the site, which currently includes a vacant hotel, an active restaurant, a parking lot and a rooftop commercial antenna. "The University of Pittsburgh owns the property at 3401 Boulevard Of The Allies that has been a key gateway site to Oakland and a source of commercial revenue to the university since 1963," Pinkney said. He said a prior ground lease on the property terminated in 2020 and that the university conducted a public request for qualifications and proposals to market the site.

Pinkney said a proposal from Radnor Property Group was selected as "the most favorable to the university and the Oakland neighborhood." He said the proposed development is expected to include "approximately 240 to 260 apartments and a 15,000 to 30,000 square foot grocery store." He described the expected transaction as a ground lease with a term of 75 years and one 24-year renewal option and said it "requires no capital commitment from the university." Pinkney also said the university executed a nonbinding memorandum of understanding with Radnor Property Group on 01/10/2025 and that a due-diligence period has begun for site-condition review and drafting an agreement to lease, a ground lease and related documents.

Committee members asked for specific timing and affordability details. A committee member identified as Lisa asked, "When do we anticipate that the grocer will be finalized?" Pinkney replied the grocer will be finalized "prior to July 2026." When asked whether affordable housing will be included, Chairperson Burbank was told there "will be affordable housing units." Pinkney said, "We estimate about 10% of the units in the building will be affordable." On a construction timeline, Pinkney said that, "based on completion of diligence and the design and permitting process, we are currently estimating that construction will start late 2026," and he cautioned the timing is subject to permitting.

In accordance with the committee charter, Pinkney said full board approval is required and will be sought at a public meeting later in the week. Chairperson Jeff Marcek asked for a motion recommending approval of the transaction to the full board; a motion was made and seconded, and the committee approved the recommendation by voice vote. The resolution approved by the committee directs that the item be forwarded to the full Board of Trustees for consideration.

No specific financial terms, rent schedules, grocery-operator identity (other than the planned selection before July 2026), budgetary commitments, or unit-by-unit affordability details were provided during the committee discussion. The nonbinding memorandum of understanding executed on 01/10/2025 and the ongoing due diligence were the only firm procedural steps reported at the meeting.

The committee adjourned after approving the recommendation and noting no additional business.