By DONOVAN HARRELL
The Property and Facilities Committee of Pitt’s Board of Trustees on Feb. 1 unanimously approved a three-year, $8.7 million lease on new apartment units.
Pitt is planning to lease 87 apartment units with a total capacity of 230 students in The Bridge on Forbes at 3423 Forbes Ave., according to the resolution.
The lease term will be for three years starting Aug. 1 with an annual rental cost of $2,631,310 for the first year, including one rent free month; $3,007,719 for the second year; and $3,151,538 for the third year. The total cost for this agreement will be $8,790,567.
The building is still under construction is not slated to open until the fall semester. Pitt’s lease will be for about 49 percent of the beds in the building, according to Pitt spokesman Joe Miksch.
“The Bridge on Forbes has been great to work with and this is a real win-win for both parties,” Miksch told The Pitt News. “The need for additional housing is due to the increased demand from students wanting to attend the University of Pittsburgh. The three-year lease is designed to assist us with providing quality housing for our students.”
According to Miksch, the Bridge on Forbes apartments will be priced similarly to other apartment-style housing options provided by the University, like Bouquet Gardens.
The apartments are fully furnished with a full kitchen and a 50-inch Smart TV. The building also has a fitness center and a coffee bar/lounge area.
Prices listed on the facility’s website range from just over $1,000 a month per person in the three bedroom/three bathroom units to $1,750 for a one bedroom/one bath unit.
Tower A bathroom updates
The second motion approved was a project to renovate common bathrooms on the 18 floors of Litchfield Tower A student residential facility.
Changes will include a “more efficient layout” with more showers, new finishes and plumbing fixtures in line with the Americans with Disabilities Act, new mechanical, plumbing and electrical infrastructure and a new ventilation system connected to each bedroom.
The estimated total cost for these renovations, which will take place this summer, is $8,050,000. Similar work was done last year on Tower C.
Donovan Harrell is a writer for the University Times. Reach him at email@example.com or 412-383-9905.