Funding

Funding Needed
$30 (Mio)
EB5 Funding
$15 (Mio)
EB-5 Investors
30
Investment Amount
$500,000

Jobs

Category
Construction
Sub-Category
Commercial and Institutional Building Construction

Location

State
Pennsylvania
Location
Oakland, Pittsburgh

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Last Update: February 04, 2015 01:01 PM

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Schenley Place


Developer Name
Elmhurst Group

Project Description

Developed by Elmhurst Group, the Schenley Place project is a 7-story office building with 3.5 levels of below grade parking in Oakland, Pittsburgh. Total office area is 105,366 rentable square feet and parking totals 117 lined / 170 valet spaces. It is highly supported by Pittsburgh City and Allegheny County.
The total financial cost is $30 million including the EB-5 investment of $15 million as a five-year interest only loan. It locates in a TEA, thus, each investor is only required to invest $500,000. The development is positioned well in terms of location, timing, scale and design to capture pent up demand for space and to achieve targeted return on investment.

Regional Center

Pittsburgh Regional Investment Center
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