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Pitt trustees approve ground-lease plan for 3401 Boulevard of the Allies to add housing and a grocery
Summary
The University of Pittsburgh Board of Trustees approved a transaction enabling Radnor Property Group to pursue a redevelopment of a 1.83-acre Oakland site at 3401 Boulevard of the Allies to include 240–260 apartments and a 15,000–30,000 sq. ft. grocery under a long-term ground lease that requires no university capital outlay.
The University of Pittsburgh Board of Trustees approved a transaction to facilitate redevelopment of a 1.83-acre site at 3401 Boulevard of the Allies that the university has owned since 1963. The plan, presented to the board by the Property and Facilities Committee, names Radnor Property Group as the preferred developer and anticipates 240 to 260 apartments and a 15,000- to 30,000-square-foot grocery under a long-term ground lease that would require no capital commitment from the university.
The matter was introduced by Jeff Marcek, chairperson of the Property and Facilities Committee, who told trustees the site currently includes a vacant hotel, an active restaurant, a parking lot and a rooftop commercial antenna and that a prior ground lease terminated in February 2020. Committee materials and Marcek’s remarks state the university ran a public request-for-qualifications and proposal process and selected Radnor’s proposal as most favorable to both the university and the Oakland neighborhood. The university executed a nonbinding memorandum of understanding with Radnor on Jan. 10, 2025, and a due-diligence period for site-condition review and development of lease documentation has commenced.
Under the terms described to the board, the proposed transaction would take the form of a ground lease with an initial 75-year term and a 24-year renewal option. Trustees voted to approve the transaction during the public meeting; the motion was seconded and the resolution passed. The Property and Facilities Committee recommended the board’s approval after its public meeting on May 6, 2025.
Next steps described in the meeting materials and by committee leadership include continuing site due diligence, negotiating a definitive agreement to lease and a ground lease, and completing required permitting and neighborhood review processes. The university noted the transaction is expected to provide ongoing commercial income for the campus and to align with prior community discussions about development at this gateway site to Oakland.
The board did not commit capital to the project at the meeting; trustees were told the agreement as presented requires no university capital expenditure. Additional details about project financing, final grocery operator selection, construction timeline and other commercial terms will be subject to the forthcoming definitive lease documents and regulatory approvals.
