Wednesday, November 30, 2011

It’s Official – Free Weekend Parking Downtown, Now through Dec. 31

This is great news for downtown businesses, and for the city in general. Make sure to take advantage of this while it lasts!

Pittsburgh City Council today gave final approval to an expansion of the city's free holiday parking promotion.

Through Dec. 31, the city would stop enforcing meters at 4 p.m. each Friday and would not enforce meters at all on Saturdays. Meters typically are enforced until 6 p.m. Monday through Saturday.

The promotion takes effect as soon as the legislation is signed by Mayor Luke Ravenstahl, who asked council to offer the free parking to help restaurants and shops citywide.

At Mr. Ravenstahl's request, the city Parking Authority voted Nov. 17 to offer free parking at its garages Downtown and in Oakland and Shadyside. The promotion began Nov. 18 with Light Up Night and runs through the First Night celebration Dec. 31.

Council also voted to halt meter enforcement at 6 p.m. for all of 2012. Council had wanted to extend enforcement to 10 p.m., but Councilman Bill Peduto said the parking authority hadn't yet modernized meters or taken other steps to support expanded enforcement hours.

Councilman Patrick Dowd voted against the bill, saying he didn't want to "bend and change our behavior" because the parking authority hadn't prepared for expanded enforcement.

Read more: http://www.post-gazette.com/pg/11333/1193341-100.stm#ixzz1fD5hKisA Photo from: http://www.downtownpittsburgh.com/holiday-memories

Tuesday, November 22, 2011

Garden Theater block ready to start

The North Side already has a lot going for it, but this project could definitely tip it over the edge. Looking forward to seeing how things pan out with the redevelopment next year.

The team taking on the redevelopment of the Garden Theater block on the North Side are ready to kick start it next year with three well-known bar and restaurants from the South Side, Strip District and Lawrenceville.

Allegheny City Development Group, LLC, a team that comprises Philadelphia-based Zukin Realty and Pittsburgh-based Collaborative Ventures, got a vote from the Urban Redevelopment Authority board today to acquire a collection of parcels on the central North Side on which to begin construction next year.

The team told the assembled URA board that it has achieved letters of intent with Nakama, the popular Japanese steakhouse and sushi bar on Carson Street as well as with the operators of Lawrenceville’s Round Corner Cantina and of the former Firehouse Lounge in the Strip District. Allegheny City Development hopes to establish full lease deals in the next few months and proceed with construction next year on its first phase, which will also include apartments and office space in the Garden Theater property.

The URA board voted unanimously to sell the properties for the phase one portion or the overall plan for $250,000. The project includes three of the main properties in the development plan, the Garden theater itself, a former Masonic Lodge building and a structure known as the Bradley building. The overall development plan is projected to cost more than $7.5 million.

The three restaurants are expected to be part of a larger mixed-use development that includes a mix of apartments and office space

Wayne Zukin, a principal with Zukin, which was awarded development rights for the Garden Theater block project in October 2010, said it’s been more challenging to lure tenants to the project than expected.

“It’s been a long process and a complicated project,” he said. “We’re really excited to get in he ground and get things going.”

Zukin said one key draw that helped with Nakama was a Masonic Lodge building whose space lays out very similarly to its established restaurant on the South Side. It also helped that Bob Gomes, the owner of Nakama, is familiar with historic renovation projects in his other business.

The Garden Theater block, which has long been a bane of blight on the North Side, with its main property operating as a former porn theater, is also seeing some complementary development around it, most notably a host of new Federal Hill townhouses have been built and sold before construction was completed. The neighborhood is also anchored by nearby Allegheny General Hospital and Allegheny Center.

Craig Totino, a principal with Collaborative Ventures, said a selling point was a lack of options for dining.

“A lot of the restaurateurs saw doctors and nurses walking around in scrubs and wondered where they could go to eat,” he said.

Yarone Zober, chairman of the board of the URA, said he was eager to see the project finally revitalize a core property on the North Side as a ongoing goal of mayor Luke Ravenstahl.

Read more http://www.bizjournals.com/pittsburgh/news/2011/11/11/garden-theater-block-ready-to-start.html

Friday, November 18, 2011

Pittsburgh Is Looking For Experienced Dreamers

If you know anyone with an entrepreneurial spirit who has been wanting to move to Pittsburgh, you may want to pass this along. 

 

Pittsburgh is looking for Experienced Dreamers™ – people with a bit of experience under their belts and a desire to do something different with their lives. If that sounds like you, this is your once-in-a-lifetime chance to win $100,000 to move here and realize your dream!

Pittsburgh is a place with a long history of dreamers – pioneers in arts and culture, business, medicine, robotics, and more. It's also a place where people care about their community, with a legacy of philanthropy that rivals any region in the country. It's a place where ordinary citizens work hard to build businesses and a better community for future generations. One visit, and it's no wonder Pittsburgh has again and again been named "America's most Livable City" by publications such as Forbes, The Economist and Places Rated Almanac. Pittsburgh is a place where we honor our past and constantly look to the future – a place that encourages dreamers to imagine what they can do here … and then to do it.

The Experienced Dreamers™ contest is all about getting you to think about your dream – whatever it is you believe you were born to do – and asking if you have the courage to pick up your life, move to Pittsburgh and make it real. If you've got a dream and the passion to follow it, we want to hear about it. And – for one dreamer – we're going to give you the resources to help you do it.

From October 19 until December 16, 2011, we will be accepting applications for the contest. There's no fee to enter, but you must be 45 or older and you must not have lived within 100 miles of Pittsburgh in the last 10 years. (See the Terms and Conditions for complete contest rules.)

In the spring of 2012, 20 semifinalists and five finalists will be chosen based on the originality, creativity, passion and clarity demonstrated in their applications. And the winner will be chosen from among the five finalists by a vote of the people of Pittsburgh.

The winner of the contest will receive $50,000 in cash to pursue your dream and $50,000 in the form of a charitable trust in your name.

About Pittsburgh

Over the years, Pittsburgh has been a lot of things to a lot of people. The City of Champions. The birthplace of Pop Culture and the emoticon. The home to innovators in energy, medicine, materials sciences and robotics. It's the city President Bush dubbed "Knowledgetown," the region President Obama observed is "a model for economic transformation," and the place Pulitzer-Prize-winning historian David McCullough has called "the indispensable American city." And it's been named the Most Livable City in America by just about every publication that ranks such things – from Places Rated Almanac to Forbes and The Economist.

It's a place that blends all the arts, culture and vibrancy of a big city with incredible green spaces, miles of biking and hiking trails, and clean rivers for boating and fishing. And with safe communities, world-class colleges and universities, and nearly limitless career and entrepreneurial opportunities, Pittsburgh is where dreamers become doers. That's why it's been named one of the best places to relocate, one of the top-10 cities in which to find a job and one of the major cities least-affected by the challenges of the economic recession.

Over the last 30 years, Pittsburgh has transformed itself into one of the most diverse, affordable and attractive cities in America. It's a place built by dreamers for dreamers. It's been home to many of our nation's most creative and innovative thinkers in the arts, science, industry, civic stewardship and philanthropy. And you're invited to make Pittsburgh your home, too.

Read more: http://www.experienceddreamers.org/

Wednesday, November 16, 2011

How to Purchase Commercial Real Estate

A really good article on purchasing commercial real estate.

Buying commercial real estate is a complex undertaking that is difficult even for experts to time right to maximize their investment value, let alone entrepreneurs or business executives whose areas of expertise are in different industries. It's also a venture rife with risk, as buyers, sellers, agents, and renters alike can suffer the consequences of a dip or spike in demand. At the same time, for a business, on the upside the potential rewards can be substantial.

As a small business owner, you're most likely not a commercial real estate expert. That's why it's important to surround yourself with the right team of experts. They can help you determine the right time to buy or sell, the right locations to consider, and the nuts and bolts of closing the deal. Here are some of the experts you may consider contacting:

  • Accountant. An accountant can help you figure out what your business can afford and analyze the tax and operating budget benefits.
  • Lawyer. A lawyer can help you complete the transaction, negotiating with the seller and lender on your behalf.
  • Commercial broker. A real estate broker can help you identify potential properties and what you can afford.
  • Mortgage broker. A lender or mortgage broker will help you sort through financing options, from bank loans to those guaranteed by the U.S. Small Business Administration, such as the Certified Development Company (CDC) 504 Program, used to finance primarily real estate or equipment.

When deciding whether to buy commercial real estate, it's important to understand the potential risks. The last thing you want is to buy property and realize a year or two later that you would have been better off renting. Here are some of the potential risks a business faces when buying:

  • Location may backfire. Today's "hot" neighborhood can become tomorrow's "not" neighborhood. Locations are trendy. Gentrification may stall. The market may go bust. The area you choose one day may become undesirable the next. Of course, the reverse can be true, as well.
  • Loss of liquidity. Businesses may tie up much of their liquidity buying real estate. It's not always easy to sell real estate, particularly in a slump. At the same time, businesses that own real estate at least have something to sell if they need a cash influx to revive a lagging business.
  • Tenuous cash flow. Tenants sometimes stop paying their rent. Other times, buildings are in need of unexpected -- and expensive -- repairs.  Your cash flow can become compromised, especially if you are forced to simultaneously pay repairs and attorney fees to handle a tenant situation.

In order to be aware of risks, do your homework. Undertake extensive due diligence before signing any contract. You also need to be hands-on with your commercial property by overseeing every level of operation and making frequent on-site visits -- otherwise, you may learn about problems after it's too late to do anything to fix them.

Read more: http://www.inc.com/guides/2010/07/how-to-purchase-commercial-real-estate.html

Friday, November 11, 2011

5 Resources for Entrepreneurial Vets

Veterans, we can never thank you enough for your service. As you readjust to civilian life, you may find yourself drawn to the small business world. While there are abundant resources to help get you started in your own small business (as described in the article below by entrepreneur.com), there are also many complications and hurdles that can frustrate a new owner, not all of which are intuitive or easily avoided. However, having professional representation in the buying process can substantially reduce your risk. If you want to start a business in the Pittsburgh area, give me a call. Let’s talk about your vision.

For the men and women of the U.S. military, returning to civilian life is often bittersweet.

Veterans who have left the U.S. military in the past 10 years are contending with an unemployment rate of 12.1 percent in October, up from 10.6 percent a year ago and well above the overall U.S. jobless rate of 9 percent, according to the latest data from the Bureau of Labor Statistics. And more than a million service members are projected to leave the military between 2011 and 2016.

In recent months, President Barack Obama had proposed a number of measures to ease the transition to civilian life, including tax credits for employers hiring veterans and programs for helping veterans become more competitive in the civilian workforce. The federal government also expanded the GI Bill program to include vocational training and other non-degree job-training programs for veterans.

But some vets might be better suited for entrepreneurship. Nearly a quarter of veterans aspire to either start or buy a small business, according to the U.S. Small Business Administration. With this in mind, here are the details on five programs available to veterans to help them get started.

The Entrepreneurship Boot Camp for Veterans with Disabilities
In partnership with Syracuse University, the SBA is expanding its free "boot camp" training program to veterans at eight business school campuses across the U.S. Specifically targeted to service-disabled veterans, women, National Guard and Reserve members and their families of the wars in Iraq and Afghanistan, the program is designed to leverage the country's infrastructure of higher education to teach would-be entrepreneurs the skills and resources necessary to start up. Veterans also will learn about small-business management and financing.

To date, more than 320 soldiers with disabilities have graduated from the program and more than 150 businesses have been launched by graduates. Going forward, funding provided by health insurer Humana will help the initiative continue its expansion to additional universities across the U.S.

At present, participating campuses include: Syracuse University, Cornell University, E.J. Ourso College of Business at Louisiana State University, the University of Connecticut School of Business, Mays Business School at Texas A&M, UCLA Anderson School of Management, Florida State University's College of Business, and the Krannert School of Management at Purdue University.

Operation Endure and Grow
Aimed at National Guard and Reserve members, Operation Endure and Grow gives them, their families and business partners access to online training courses focused on the fundamentals of launching or growing a small business. This program offered by the Whitman School of Management in cooperation with the SBA offers service personnel courses on crafting a business or nonprofit plan. In addition, they'll receive ideas for presenting to investors, lenders or other financial backers.

Veteran Fast Launch Initiative
Veterans can access training to become entrepreneurs through the Veterans Fast Launch program, which SCORE (formerly the Service Corps of Retired Executives), launched in partnership such organizations and companies as American Institute of Certified Public Accountants and Hewlett-Packard. The program offers free software, mentoring and training to veterans, active-duty personnel and their families. Discounts on services like getting incorporated are also available to participants, as are scholarships to attend SCORE's Simple Steps for Starting Your Business workshops at 360 SCORE chapters across the U.S.

Veterans as Women Igniting the Spirit of Entrepreneurship
The SBA along with the Whitman School of Management at Syracuse University this year launched a program aimed at helping female veterans launch businesses or grow existing firms. The program called Veterans as Women Igniting the Spirit of Entrepreneurship, or V-WISE, is available in seven U.S. cities and accepts 200 veterans per city.

After a 15-day online introduction to business that focuses on building entrepreneurship skills, participants are asked to attend one of several three-day conferences held at various times and places across the U.S. through 2013. At the event, would-be and current female veteran entrepreneurs -- as well as transitioning active-duty personnel -- can take courses on topics from human resources and marketing to finance and business planning. The registration fee is $75 and participants are required to pay for their own travel, but their hotel rooms are paid for by the SBA.

Patriot Express Pilot Loan
For those who need funding, the SBA supports small-business lending, including a dedicated lending program for veteran entrepreneurs. The SBA backed more than 4,300 loans totaling $1.5 billion in its flagship 7(a) and 504 programs to lending to veterans in 2011. Since 2007, thePatriot Express pilot loan initiative, which boasts faster turnaround times than other SBA programs, has guaranteed loans of more than $667 million to nearly 8,100 veterans, reservists and their spouses to start or expand a small business. In its 2011 fiscal year, the SBA authorized more than 1,560 loans totaling $142 million. The program has been extended through 2013.

Other Resources
For information about other programs that aren't listed above, head to the SBA's veterans site. Veterans can also find help at any of the SBA's 68 district offices, 15 Veterans Business Outreach Centers, more than 1,000 Small Business Development Centers, 110 Women's Business Centers and the many SCORE volunteers.

Read more http://www.entrepreneur.com/article/220692

Sunday, November 6, 2011

Market Square Named a "Top Public Space" in US and Canada


Planetizen.com recently compiled a list of the top 100 public spaces in the US and Canada and revealed "a handful of communities passionate about their own local public spaces." Planetizen and its partner for the search, Project for Public Spaces (PPS), "found that successful [public spaces] have four key qualities: they are accessible; people are engaged in activities there; the space is comfortable and has a good image; and finally, it is a sociable place: one where people meet each other and take people when they come to visit."

Pittsburgh's own Market Square was included in the top 10:

7. Pittsburgh Market Square, Pittsburgh, Pennsylvania


Market Square is a unique space in the heart of downtown Pittsburgh with a storied past. It’s been the central square in Pittsburgh’s downtown since the 18th century, and was the site of a public space known as the Diamond, or Diamond Square, that was demolished in 1962. To keep the historic scale and style of the downtown intact, Market Square was designated as Pittsburgh’s first historic district in 1972. Several redesign projects followed suit. Given its history and central location, the place should have been an active, sociable destination, but even after several redesigns, the square floundered as the central area in downtown. In more recent decades, the square was characterized by drug use, heavy bus traffic and loitering, and especially after 5 p.m., dreary emptiness.


The refurbished 68,000 square foot plaza combines the four quadrants of the old square into one large pedestrian-only center island. Raised curbs and planters were eliminated and the square re-graded to one, consistent plane. The red brick paving and withering plants were replaced by modern paving material and a lighter-colored large circular ring that draws visitors to the center of the square. The new trees were planted in four organized clusters, nodding to the historical street patterns and the previous four quadrants. Temporary seating and bistro tables are also spread out through the plaza. In addition to seating in the square itself, new brick sidewalks were extended on the streets around the square, allowing for expanded café seating.

See the rest of the list at http://www.planetizen.com/toppublicspaces and read more about the search at http://www.planetizen.com/node/51345

Friday, November 4, 2011

Group coupon craze comes to real estate

Would you use a service like this? Do you think “deals” like this are worth the risk?

Group coupons for restaurants and spa treatments have become popular since Groupon launched in November 2008, but until recently no one had made the link between real estate and collective discounts. A group deal doesn't mean you must buy a house with a bunch of strangers. It just means that a real estate agent will give you a bargain once a certain number of people have bought the same coupon.

Deals offered by real estate agents and brokerages come in various forms, including:

  • Commission discounts or rebates.
  • Cash gifts at settlement.
  • Gift cards to home stores.

Group buying deals

Like other group discounts, a minimum number of customers must buy the deal before it "tips" and will be finalized.

"In real estate, the deals are often offered for three to seven days rather than for just one day, because these are not usually impulse buys," says Tigue Bonneval, co-founder of HouseTipper.com and a real estate agent in Baton Rouge, La. "This gives customers time to see the deal, make an inquiry with the real estate agent and decide if they want to make the purchase."

For real estate agents, offering a group discount can be a great way to gain exposure and reach out to potential new clients, Bonneval says.

"Real estate agents don't pay us anything because HouseTipper gets paid when the consumer buys a deal," he says. "There's a preapproved commission that goes to the merchant and fluctuates according to the deal."

Group coupon buyers must work with the agent or brokerage who offers the deal.

"HouseTipper will refund the cost of the coupon if the customer doesn't buy a house or if they don't like the agent and want to work with someone else," Bonneval says.

Consumer benefits

For people who are buying or selling a home, real estate coupons can be a valuable bonus as long as they understand the details.

For example, Paul Gorney, a Realtor with Prudential Rubloff in Chicago, recently offered a deal through HouseTipper.com. Prospective homebuyers paid $50 for the coupon and will get $2,500 in cash at settlement as long as they close within one year from the coupon purchase date and buy a home for $350,000 or more.

"I've sold at least seven of these, which is a great way to meet new clients," Gorney says. "I really encourage everyone to call an agent before buying one of these, though, because you want to make sure are choosing someone with whom you can work. Most people that buy these coupons are in the planning stage, about three to nine months from going to settlement. This coupon is just a little bonus they can look forward to when they close on a property."

Dream Town Realty in Chicago offered a deal through Groupon in April for $25, which would give homebuyers $1,000 back at the closing provided they bought a home by the one-year deadline for a minimum of $150,000. In less than one day, more than 50 people bought that coupon.

Hounshell Real Estate in Washington, D.C., offered a group coupon through The Capitol Deal, a local website owned by The Washington Post. The Hounshell deal had cost $50 and offered up to $6,000 off commission for buyers or sellers. It is refundable if a home is not sold or purchased within one year.

"We sold seven deals so far," says Greg Tindale, a Realtor with Hounshell. "We have a sliding scale for the commission discount according to the sales price, from $1,500 for a home between $200,000 and $400,000, and up to $6,000 for homes $800,000 and above. We wanted to make sure the deal is worth it for customers and also incentivize the higher end of the market."

Buyer beware

Real estate agents in some states are not allowed to give commission rebates, so they may need to structure different kinds of deals.

"The important thing for consumers is to read the fine print and call the agent to have a conversation before they make the coupon purchase to make sure it will work for them," Bonneval says. "Most people don't think to ask for a cash gift or to negotiate the commission when they are buying a home, so this way, we are essentially doing the negotiating for them."

Read more: http://www.bankrate.com/finance/real-estate/group-coupon-craze-comes-to-real-estate.aspx#ixzz1cl76uRn0

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