As real estate investors at Jason Cohen Pittsburgh, we look at properties for their profitability. We assess locations for economic viability and attempt to project how money spent there now can grow over time. We look for diamonds in the rough. And there is no better an example of a great investment than Pittsburgh.
In the past decade that we’ve been investing in city properties, Pittsburgh has seen tremendous growth. Certain neighborhoods have gone from destitute to debonair. Sure, there are the stalwarts like Squirrel Hill and Mt. Lebanon that persist as desirable locations through generations. But recently neighborhoods like Lawrenceville have come on strong with an abundance of new independent businesses. It takes a strong city for independent movie theaters, pinball cafes, and dedicated zombie memorabilia shops to thrive — but they do in Lower Lawrenceville.
Downtown, usually the focal point of most cities, was solely devoted to the working stiff crowd with the metropolis virtually shutting down after 5PM and on the weekends. Now, condos and apartments has risen with unprecedented growth in the Cultural District that entertains both visitors and the new population of residents. Hotels have sprung up all over the city to accommodate out-of-towners who’ve come to see a sports game or one of the numerous conventions that grace the new convention center each year.
Pittsburgh was almost a casualty, another city close to corroding off the Rust Belt when the major industry left down. But, the “City of Champions” restored itself with new industries. Now, it’s about medicine with top-ranked hospitals at the University of the Pittsburgh. Google has opened an office in the city, helping to usher in a technology boom with one of the largest robotics institutes from Carnegie Mellon University.
Hollywood has also brought in much attention to the Steel City. The Pennsylvania tax credit has provided an incentive for film productions in the city, increasing jobs in the area as well as showcasing the new Pittsburgh.
Culture has also thrived. Somehow the city that was once known for its sandwiches covered in french fries has now become a foodie destination. Local organizations lead food tours of various neighborhoods and craft alcohol has become a burgeoning industry. Local distilleries and wineries form a libations trail along the river, along with microbreweries. The riverfronts have been restored and boast docks for kayaks and bike trails. In fact, the city of hills and bridges is now known for being bike-friendly, defying its geographical challenges.
At Jason Cohen Pittsburgh, we’ve noticed all of these things about how our city has started to thrive. Since we’ve been operating in Pittsburgh, the city has paid off as an investment.