What's Next at Walnut Capital: Projects in Development

September 23, 2026

Pittsburgh is always changing — and we’ve got a few things in the works.

From new apartments in Oakland and the South Side to exciting plans in East Liberty, Downtown Pittsburgh, and the North Side, there’s a lot happening across Walnut Capital’s portfolio. Some projects are already under construction, some are getting ready to welcome future residents, and others are still taking shape behind the scenes.

Basically, consider this your sneak peek at what’s next.

We’ll keep updating this page as projects move forward, so you can follow along with new renderings, construction photos, leasing announcements, opening dates, and all the fun progress in between.

Last updated September 2026.

The Caroline | New Apartments in Oakland, Pittsburgh

Now Pre-Leasing for the 2027–2028 School Year

Oakland is getting a new neighbor.

The Caroline is a new apartment community currently under development as part of the University Commons expansion in Oakland, Pittsburgh. The 11-story building will include approximately 160 apartments and 480 beds, creating a new residential option near Pittsburgh’s universities, hospitals, restaurants, and everything else that keeps Oakland moving.

And there’s an important update from the original plans: The Caroline will feature three-bedroom apartments, and pre-leasing is officially underway now for the 2027–2028 school year.

Residents can expect plenty of space beyond their apartment, too, with planned amenities including a lounge, game room, fitness center, yoga studio, courtyard, parking, and approximately 5,000 square feet of retail and restaurant space.

Whether it’s study time, workout time, or I need to get out of my apartment for a minute time, The Caroline is being designed with student life in mind.

The Caroline at a Glance

New apartment community in Oakland, Pittsburgh
11 stories
Approximately 160 apartments and 480 beds
Three-bedroom apartments
Lounge and game room
Fitness center and yoga studio
Outdoor courtyard
Retail and restaurant space
Parking

Now pre-leasing for the 2027–2028 school year! Learn more here.

University Commons Expansion | Oakland, Pittsburgh

The Caroline may be getting a lot of attention right now, but it’s only part of what’s planned for University Commons.

Future phases of the University Commons expansion in Oakland are expected to add even more residential space to the neighborhood. Current plans include an approximately 169-unit, 500-bed building followed by another approximately 164-unit, 492-bed building.

The Caroline is a new apartment community currently under development as part of the University Commons expansion in Oakland, Pittsburgh. The 11-story building will include approximately 160 apartments and 480 beds, creating a new residential option near Pittsburgh’s universities, hospitals, restaurants, and everything else that keeps Oakland moving.

The broader vision also includes the Louisa Street Pedestrian Greenway, creating a more connected and walkable experience throughout the area.

There’s plenty more to come here, so this is definitely one to watch.

3401 Boulevard of the Allies | New Oakland Apartments

More new housing is planned for Oakland at 3401 Boulevard of the Allies.

Developed in partnership with Radnor Property Group, the planned seven-story residential community will feature approximately 263 apartments, including studio, one-bedroom, and two-bedroom layouts.

It’s another project helping bring new residential options to one of Pittsburgh’s busiest neighborhoods.

Project Highlights

New residential development in Oakland, Pittsburgh
7 stories
Approximately 263 apartments
Studios, one-bedroom, and two-bedroom apartments
In partnership with Radnor Property Group

The James Flats | New Apartments in Pittsburgh's South Side

There’s more coming to The Collective – South Side.

The James Flats is planned as Phase 2 of the larger development taking shape at the former UPMC South Side Hospital site. The new four-story apartment community is planned to include approximately 200 residences, with studio, one-bedroom, and two-bedroom layouts.

The Jones Tower kicked things off. The James Flats will keep the momentum going.

Project Highlights

Phase 2 of The Collective – South Side
4 stories
Approximately 200 apartments
Studios, one-bedroom, and two-bedroom floor plans
New construction in Pittsburgh’s South Side neighborhood

New Townhomes at The Collective - South Side

Apartments aren’t the only thing planned for The Collective.

Phase 3 is expected to introduce 38 new-construction townhomes in partnership with Laurel Communities.

The townhomes will add another way to live at The Collective and continue the transformation of the former hospital site into a mixed residential community in Pittsburgh’s South Side.

Project Highlights

38 new-construction townhomes
Phase 3 of The Collective – South Side
For-sale residential homes
In partnership with Laurel Communities

Bakery Living Expansion | East Liberty, Pittsburgh

Apparently two Bakery Living buildings weren’t enough.

A third Bakery Living apartment building is planned near Penn and Shady Avenues in East Liberty, expanding the residential community surrounding Bakery Square.

Current plans call for a six-story development with approximately 199 apartments, including studios, one-bedroom, and two-bedroom floor plans. Planned amenities include a lounge, coworking area, fitness center, party room, and outdoor pool.

The project will also be part of a larger evolution of the Bakery Living brand, so yes — there’s even more happening behind the scenes.

Project Highlights

Third Bakery Living apartment community
Located near Bakery Square in East Liberty
6 stories
Approximately 199 apartments
Studio, one-bedroom, and two-bedroom layouts
Coworking space
Fitness center
Resident lounge and party room
Outdoor pool

Allegheny Center | North Side Apartments

Sometimes building what’s next means giving an existing Pittsburgh building a whole new life.

Plans for 4 Allegheny Center on Pittsburgh’s North Side call for a historic renovation that would transform the 10-story building into a residential community with approximately 200 apartments. Floor plans are expected to include studios, one-bedroom, and two-bedroom layouts.

Planned amenities include a coworking space, resident lounge, fitness center, and pickleball court.

Yes, pickleball made the list.

The project is being developed in partnership with Rugby Realty Co.

Project Highlights

Historic renovation on Pittsburgh’s North Side
10 stories
Approximately 200 apartments
Studios, one-bedroom, and two-bedroom floor plans
Coworking space
Fitness center
Resident lounge
Pickleball court
In partnership with Rugby Realty Co.

933 Penn Avenue | Apartments in Downtown Pittsburgh

There's also something new in the works in Pittsburgh's Cultural District.

933 Penn Avenue is planned as a new six-story residential development with approximately 70 apartments in Downtown Pittsburgh. Proposed amenities include a resident lounge, fitness center, party room, and coworking space.

The location puts future residents right in the middle of the Cultural District, with theaters, restaurants, events, and Downtown Pittsburgh just outside the door.

The project is being developed in partnership with Rugby Realty Co.

Project Highlights

New apartments in Downtown Pittsburgh
Located in the Cultural District
6 stories
Approximately 70 apartments
Fitness center
Coworking space
Resident lounge and party room
In partnership with Rugby Realty Co.

Village of Eastside Refresh | East Liberty

Not every project needs a wrecking ball.

Walnut Capital is also working on plans to refresh Village of Eastside in East Liberty, with early concepts focused on updating the existing shopping center for its next chapter.

Plans include refreshed building facades and enhanced landscaping designed to bring new energy to the property and improve the overall experience for shoppers, businesses, and the surrounding neighborhood.

Think less “starting over” and more “glow-up.”

Community Connector Cap & Park | Penn Avenue

This one is all about making connections — literally.

A planned pedestrian plaza over the busway at Penn Avenue could create a new connection in the East Liberty and Bakery Square area. The Community Connector Cap & Park is currently in the planning phase while agreements and construction timing are finalized.

The concept is intended to create a more welcoming pedestrian experience while helping connect the surrounding neighborhood.

And We’re Just Getting Started

Some of these Pittsburgh development projects are already easy to spot. Others are still renderings, plans, and very busy construction calendars.

Either way, we’re excited about what’s taking shape.

We’ll continue updating this page with new Walnut Capital development projects, construction updates, apartment pre-leasing announcements, project renderings, photos, and opening information as there’s more to share.

So check back every once in a while. There might be something new here next time...