Tribune-Review
Brown Hill Road project on hold
Sam Spatter
March 4, 2003

Walnut Capital Partners has completed the purchase of a site on Brown Hill Road in Squirrel Hill, but any further development of the property will have to wait until the city can install a new entrance to its Summerset development.

Walnut, through its Brown Hill Ventures LP subsidiary, paid $1.368 million for the property at 4634 Brown Hill, to the Philip Chosky Charitable and Education Foundation, according to a deed filed in the office of Valerie McDonald-Roberts, Allegheny County Recorder of Deeds.

Before Walnut Capital can move ahead with plans for a small retail center on the 6-acre site, it must await construction by the Pittsburgh Urban Redevelopment Authority of a road that will be the primary entrance into the Summerset residential development.

"URA is awaiting funding for the project, and they may need a small portion of our property for the road," said Todd Reidbord, president of the Shadyside-based Walnut Capital.

Currently on the site are a one-story building housing the Rosedale Technical Institute and several other buildings.

Reidbord said although his company has approached residential property owners on Saline Street -- which dead ends behind the property -- to determine if they would be willing to sell, no options have been taken on these properties.

"Our development can move ahead with or without those properties," he said.

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