Fastest-growing towns in Southwest PA

If you’re looking to purchase real estate in the Greater Pittsburgh region, consider one of these quickly growing areas. Then give me a call and we can discuss your needs.

Where are the fastest-growing municipalities in Southwestern Pennsylvania? They're all over the Greater Pittsburgh region, according to an analysis of U.S. Census Bureau data on population growth between 2000 and 2010.

Townships in Allegheny, Butler and Washington counties made the list.

You can see the top nine municipalities in this slideshow and then check out the Pittsburgh Business Times' Dec. 30, 2011, edition for the entire list or visit the Pittsburgh Business Times' special online section on changing demographics in southwestern Pennsylvania.

You can also look at a searchable list of all the municipalities in southwestern Pennsylvania to see where your township ranks.

(9) California Boro. On the list of southwestern Pennsylvania's fastest-growing municipalities is California Boro, which saw a 29 percent increase in population between 2000 and 2010. California University of Pennsylvania's new Convocation Center is a high-tech center of the campus, which was one of four state-owned colleges/universities to register enrollment increases in 2011.

(8) North Strabane Township. Many people come to North Strabane for the Meadows Racetrack and Casino. But others stay to live, as North Strabane has seen a 33 percent increase in population between 2000 and 2010.

(7) Collier Township. The Allegheny County township is home to Nevillewood and Collier Township Park and war memorial, pictured here. Collier Township has seen a 34 percent increase in population to 7,080 from 2000 to 2010.

(6) Valencia Boro. The Butler County municipality, near Mars and Adams Township, saw a 43 percent increase in population between 2000 and 2010, though at a smaller base. There are only 551 residents in the tiny boro.

(5) Seven Fields Boro. This municipality of 2,887 saw a 45 percent jump in population between 2000 and 2010, U.S. Census data shows.

(4) Pine Township. This Allegheny County municipality had a growth rate of 50 percent between 2000 and 2010, the U.S. Census Bureau said. One of the community's assets is Pine Township Park, shown here.

(3) Ohio Township. This Allegheny County township had 4,757 residents in 2010, up 54 percent from 2000, Census records show. This is the front of the Ohio Township municipal office.

(2) Adams Township. This Butler County municipality is the second fastest-growing in southwestern Pennsylvania, according to U.S. Census Bureau data. It jumped 72 percent to 11,652 residents between 2000 and 2010.

(1) Aleppo Township. The fastest-growing municipality in southwestern Pennsylvania is Aleppo Township in Allegheny County. It grew 84 percent between 2000 and 2010 and in 2010 had 1,916 residents.

Read more http://www.bizjournals.com/pittsburgh/news/2011/12/30/slideshow-fastest-growing-sw-pa-towns.html

Pittsburgh organizations to receive share of federal small business funding!

Pittsburgh-region organizations received a portion of $29.2 million in federal funding to boost small businesses in Pennsylvania, the state Department of Community and Economic Development said Wednesday.

Among the 12 organizations given money funded through the Small Business Jobs Act were:

• Bridgeway Capital will receive $2 million to finance 510 small-business loans in western Pennsylvania.
• Northside Community Development will receive $250,000 for five small-business loans on the North Side of Pittsburgh.
• Ben Franklin Technology Development Partners and Life Sciences Greenhouses will receive $5 million and expects to help finance 17 early-stage technology companies.
• The Progress Fund will receive $2 million to fund 40 loans in western and northern Pennsylvania, what the DCED said were tourism-related projects.

Click Here to read more on this story!

Experts give mostly positive outlook in 2012

Good to see people have a positive outlook for 2012, however my question to all is, What has changed from 2008 to now for anyone to believe that the economic climate will be better than we have seen over the past few years?  Other than the Shale play, which has positive and negative consequences for our region, what else is going on that paints such a rosy picture for the near future?  My suggestion: run a lean business based on the realistic approach of a continued soft market for the year ahead.

The national political landscape remains a big question mark, but there's a mostly positive outlook on the Pittsburgh economy in 2012, according to a quartet of business experts.

The predictions were made Wednesday afternoon at the 32nd Pittsburgh Business Times Corridors of Opportunity series.

Stuart Hoffman, senior vice president and chief economist, PNC Financial Services Group Inc., expects the local unemployment rate in 2012 to fall slightly.

“It’ll be another year of recovery for the region’s economy,” he said. Hoffman is looking for a “fairly broad-based” uptick across industry sectors, though he does not anticipate much growth in construction. The main Downtown project is his own company’s: PNC is building a new headquarters tower.

Robert Fragasso, chairman and CEO of Fragasso Financial Advisors Fragasso Financial Advisors, emphasized the cyclical nature of the economy. The packaging is different, he said, but “it isn’t anything different from anything that’s happened before.”

Jeffrey Ackerman, executive vice president, CBRE Inc., spoke of the booming real estate developments in such areas as Cranberry, Oakland and Southpointe. “I feel like I have one foot on hot coals,” he said, but also said activity “is still soft” in other neighborhoods.

“Most important for us is job growth,” Ackerman said. “Any time a job is added, someone has to lease or occupy more commercial real estate.”

He foresees rising rents and falling vacancies in 2012.

“If you’re a tenant — don’t tell your landlord — lock in your long-term lease,” he said.

The panel also included Godfrey Phillips, vice president of research, The Business Journals, who is based in New York and offered the perspective of small business owners across the country gleaned from his research. Phillips said small business owners were largely optimistic — though slightly but not dramatically — less so than a year ago.
All cited the wildcard of the political climate with an upcoming presidential election.

“I’d hope for the political process to improve (in 2012) with quality people in office,” Phillips said.

Hoffman advised the audience to keep an eye on what elected officials do in the waning weeks of 2011 “before they get out of town” for holiday break, “with tax expedition policy.”

Fragasso pointed out that the stock market volatility was largely linked to conditions with the European union, but that American investors should view Europe as “a sideshow” and remain focused.

“Watch yourself,” he said. “Watch your own attitude."

The event was held Wednesday at the Westin Convention Center Hotel in Downtown Pittsburgh.

Gateway Engineers was the presenting sponsor. Sponsors included Desmone and Associates Architects, Tucker Arensberg PC, Peoples Natural Gas and NAIOP Pittsburgh.

Read more http://www.bizjournals.com/pittsburgh/news/2011/12/14/corridors-bright-spots-for-pittsburgh.html

Pittsburgh rated country's most secure large metropolitan area by Farmers Insurance

What’s even better than being ranked the most secure city is how far we’ve come – Pittsburgh has moved up 10 spots in the list since last year.

Farmers Insurance Group of Companies® annually ranks nearly 400 U.S. communities based on safety and security. In its Eighth Annual Most Secure Places to Live in the U.S. study, Farmers has rated Pittsburgh, Pa., as the most secure U.S. community among large metropolitan areas (population of 500,000 or greater).

The Kennewick-Richland-Pasco, Wash., area is the most secure mid-size U.S. city (population between 150,000 and 500,000), while Ithaca, N.Y., ranks as the most secure small town (population less than 150,000).

The rankings, compiled by database experts at www.bestplaces.net, took into consideration crime statistics, extreme weather, risk of natural disasters, housing depreciation, foreclosures, air quality, terrorist threats, environmental hazards, life expectancy, mortality rates from cancer and motor vehicle accidents, and job loss numbers in 379 U.S. municipalities. The study divided the communities into three groups: large metropolitan areas, mid-size cities and small towns.

"Farmers congratulates all of the communities represented in the Farmers Secure Places to Live Survey," stated Jeff Dailey, President and Chief Operating Officer of Farmers Insurance Group.

"Since its founding in 1928, Farmers has been committed to improving the communities in which customers, agents and employees live and work. We are committed to improving safety, expanding educational opportunities, enhancing health and human services, encouraging civic participation and supporting the arts and culture, all part of the criteria that makes up the Farmers Secure Places to Live survey," Dailey said.

Pittsburgh moved up 10 spots from a year ago to rank No. 1 among large metropolitan areas in the 2011 Farmers study. This is Pittsburgh's fifth appearance in the Top 20, with its previous best ranking ninth in the 2005 study. Its low housing depreciation, personal crime rate and motor vehicle deaths, along with a high stability rate contributed to its top rating.

The Kennewick-Richland-Pasco area reclaimed its spot as the top mid-size city it previously held in 2005, and it marks the sixth time the area has been ranked in the study's Top 20. Its lofty ranking is largely due to a high job growth rate and low housing depreciation and unemployment rate.

Ithaca earned the top rating among small towns in the annual Farmers study for the first time. It has four previous Top 5 rankings, including third place in both 2007 and 2010. Ithaca earned its elite spot thanks to low rates of unemployment, violent crimes, motor vehicle deaths and housing depreciation.

Here are the Farmers Insurance Group's Most Secure U.S. Places to Live for 2011:

Large Metro Areas (500,000 or more residents)

1. Pittsburgh, Pa.
2. Rochester, N.Y.
3. El Paso, Texas
4. Syracuse, N.Y.
5. Bethesda-Gaithersburg-Frederick, Md.
6. Buffalo-Niagara Falls, N.Y.
7. Wichita, Kan.
8. Omaha, Neb.-Council Bluffs, Iowa
9. Denver-Aurora, Colo.
10. Austin-Round Rock, Texas
11. Bridgeport-Stamford-Norwalk, Conn.
12. Albany-Schenectady-Troy, N.Y.
13. McAllen-Edinburg-Mission, Texas
14. Nassau-Suffolk counties, N.Y.
15. Honolulu, Hawaii
16. Madison, Wis.
17. Colorado Springs, Colo.
18. Oklahoma City, Okla.
19. Des Moines-West Des Moines, Iowa
20. Minneapolis-St. Paul-Bloomington, Minn.

Mid-Size Cities (150,000-500,000 residents)

1. Kennewick-Richland-Pasco, Wash.
2. Boulder, Colo.
3. Fargo, N.D.-Moorhead, Minn.
4. Olympia, Wash.
5. Binghamton, N.Y.
6. Sioux Falls, S.D.
7. Bellingham, Wash.
8. Lincoln, Neb.
9. Fort Collins-Loveland, Colo.
10. Rochester, Minn.
11. Duluth, Minn.-Superior, Wis.
12. Utica-Rome, N.Y.
13. Bremerton-Silverdale, Wash.
14. Yakima, Wash.
15. Anchorage, Alaska
16. Burlington-South Burlington, Vt.
17. Las Cruces, N.M.
18. Green Bay, Wis.
19. Houma-Bayou Cane-Thibodaux, La.
20. Spokane, Wash.

Small Towns (Fewer than 150,000 residents)

1. Ithaca, N.Y.
2. State College, Pa.
3. Bismarck, N.D.
4. Elmira, N.Y.
5. Corvallis, Ore.
6. Logan, Utah
7. Midland, Texas
8. La Crosse, Wis.-Winona, Minn.
9. Grand Forks, N.D.-Crookston, Minn.
10. Lewiston, Idaho-Clarkston, Wash.
11. Altoona, Pa.
12. Morgantown, W.Va.
13. Rapid City, S.D.
14. Wenatchee, Wash.
15. Eau Claire, Wis.
16. Johnstown, Pa.
17. San Angelo, Texas
18. Fond du Lac, Wis.
19. Iowa City, Iowa
20. Sioux City, Iowa

Read more http://www.prnewswire.com/news-releases/eighth-annual-farmers-insurance-study-ranks-the-most-secure-places-to-live-in-the-us-135661698.html Picture from http://m.wikitravel.org/en/Pittsburgh

Green Retrofitting Surpasses New Green Construction for First Time

Do you agree that retrofitting existing buildings makes more sense that building new ones?

Green retrofitting of commercial buildings is outpacing the construction of new green buildings, according to a new report issued this week.

The trend could mean that more building owners may believe that bringing their buildings up to Leadership in Energy & Environmental Design (LEED) certification may not only be cost efficient, but the environmentally conscious thing to do. It could also mean that new construction has continued to plummet in the last four years, yielding few new green building projects on the drawing boards.

LEED-certified existing buildings are outpacing their newly built counterparts, according to the U.S. Green Building Council’s (USGBC) report. As of December, square footage of LEED-certified existing buildings surpassed LEED-certified new construction by 15-million square feet on a cumulative basis.

McGraw Hill Construction’s Green Outlook 2011 report states that by 2015, the green share of the largest commercial retrofit and renovation activity will more than triple, representing a $14 billion to $18 billion opportunity in major construction projects alone.

“The U.S. is home to more than 60 billion-square-feet of existing commercial buildings, and we know that most of those buildings are energy guzzlers and water sieves,” Rick Fedrizzi, president, CEO and founding chair of USGBC, said in a statement. “Greening these buildings takes hands-on work, creating precious jobs especially for construction workers. Making these existing buildings energy and water efficient has an enormous positive impact on the building’s cost of operations. And the indoor air quality improvements that go with less toxic cleaning solutions and better filtration create healthier places to live, work and learn.”

Historically, LEED-certified green projects were overwhelmingly made up of new construction projects, both in volume and square footage. That began to change in 2008, according to USGBC, when the LEED for Existing Buildings: Operations & Maintenance (O&M) program began experiencing explosive growth. In 2009, projects certified under LEED for Existing Buildings: O&M surpassed those certified under its new construction counterpart on an annual basis, a trend that continued in 2010 and 2011.

“This new data marks the first time that LEED-certified existing buildings have surpassed LEED-certified new construction cumulatively,” Fedrizzi continued. “The market is becoming increasingly aware of how building owners can get better performance through green operations and maintenance…”

David Cohen, senior director of property at Fireman’s Fund Insurance Co., said his company has seen their customers express increased interest in retrofits to make their buildings greener.

“We are not surprised to see the increase of existing buildings becoming LEED-certified given the economic slowdown’s impact on new construction and as building owners have become more aware and educated on both the financial impact and environmental benefits of having a green building,” Cohen said. “Green buildings can boost real estate owners’ bottom line by protecting and building net operating income, attracting and retaining quality tenants and improving the environment. Simply put, green buildings create a triple-net effect, benefitting the owners’ bottom line, its tenants and the environment.”

Fireman’s Fund is considered the first property/casualty insurance firm to offer green insurance to the U.S. commercial marketplace by providing a financial incentive for green building owners in the form of a 5 percent discount on the policy premium for LEED-certified buildings.

The company has recently expanded its green offerings to include historic buildings, hotels, manufacturing facilities, restaurants, and personal and commercial auto.

Since the economic downturn there have been few new studies on the value of building green, or retrofitting a building to be green, for developers.

A study by CoStar Group in 2008 showed that sustainable “green” buildings outperform their non-green peer assets in terms of occupancy, sale price and rental rates, sometimes by wide margins.

At that time, LEED buildings were commanding rent premiums of $11.33 per square foot over their non-LEED peers and had 4.1 percent higher occupancy. Rental rates in Energy Star buildings represented a $2.40 per square foot premium over comparable non-Energy Star buildings and had 3.6 percent higher occupancy, the CoStar report showed.

Energy Star buildings also sold for an average of $61 per square foot more than their peers, while LEED buildings commanded $171 more per square foot, according to CoStar.

“Projects worldwide are proving that green building doesn’t have to mean building new,” the USGBC states.

A major renovation for the now recently LEED-certified Empire State Building in New York has its owners forecasting they will slash energy consumption by more than 38 percent, saving $4.4 million in energy costs annually.

Over 43,000 projects are currently participating in the commercial and institutional LEED rating systems, comprising nearly 8 billion-square-feet of construction space in the U.S. and 120 countries. Additionally, nearly 15,000 homes have been certified under LEED.

Read more http://www.insurancejournal.com/news/national/2011/12/09/226746.htm

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SBA Helping Owners Tap Their Real Estate Loans for Equity

Big, big FYI to small business owners:

The SBA wants to put some extra money in your pockets. To do so they’ve implemented a temporary program to help small businesses refinance commercial loans and restructure their debt. The SBA recently expanded the program and increased eligibility so that more people can take advantage of it before the program ends in September 2012.

The 504 Loan Refinancing Program—implemented under the Small Business Jobs Act of 2010—allows small businesses to refinance not only existing debt but use excess equity to obtain working capital that can be used to finance eligible business expenses, explains Steve Smits, associate administrator for the Office of Capital Access at SBA.

Some such expenses are utilities, insurance, and salaries. Though the SBA site simply states: "Any expense directly related to business operations." It’s hoped the expansion will alleviate financial stresses while both protecting and creating jobs.

The temporary refinancing program is intended to aid the large number of small businesses that are expected to have their loans mature. Now a third-party lender only needs to match or exceed the amount provided by the SBA, instead of 50 percent of the project. Also borrowers are now able to finance the appraised value of available collateral (including applicable fixed assets) up to 90 percent. 

It seems as though this opportunity to refinance comes at a good time. "Right now the commercial market—at least nationally-speaking—is undergoing a stabilization trend," says George Ratiu, an economist for the National Association of Realtors. The demand for real estate space in the core property types: office, industrial, retail, and the apartment sector has stabilized and is turning positive, a relief since demand has been negative for the past three years.

The problem is that people are just unaware of this help from the SBA program. Several states have yet to take full advantage of the refinancing program. As of early November, 11 states had only one approved loan, 10 had not yet tapped into the program, and the average number of approved loans across the nation was nine.

This may seem surprising, given the SBA’s high expectations for the program, which ends September 27, 2012. According to the SBA, “As many as 8,000 businesses may participate in this program during the current fiscal year, which will provide up to $7.5 billion in SBA-guaranteed financing leading to total project financing of almost $17 billion.” Despite high hopes, as of early November only 365 loans had been approved in 40 states since application acceptance starting Feb. 28.

The low number also raises concerns about the money actually available for the program, as it’s completely funded through additional fees gathered from refinancing activities. It seems that many who could be benefiting from the program aren’t, possibly due to the restrictive nature of prior guidelines. But a look at the market shows no lack of need.

According to Ratiu, properties in the lower evaluation spectrum and inland geographies have been struggling with financing, prices, and capital availability, even through the recovery period. "Financing is still the No. 1 concern for commercial space in these markets," he says. Businesses in these areas may very well benefit from the SBA program. Since the program was expanded in October, interest has at least increased. Inquiries into the refinancing program (from lenders) has gone from about four to over 45 a day in the processing centers.

Some entrepreneurs aware of the program don't think it goes far enough to help struggling small businesses. Chris Hurn is one of those small business owners. He’s also the CEO and co-founder of Mercantile Capital Corporation, a commercial real estate lender, giving him a unique perspective on the matter. He thinks the program isn’t an absolute solution, but a step in the right direction—albeit a baby step. “It’s not the silver bullet we’ve all been looking for,” he says, “but it will certainly help a fair amount of small business owners out there to tap that embedded equity and use it for purposes that the business needs right now.”

He also sees ways the program could be improved.

Short of making it a permanent offer, Hurn thinks more businesses would benefit from the temporary program if it were extended until the funds are utilized. “They wrote the regulations so restrictively that it wasn’t until Oct. 12 that the program was actually able to do fully what it needed to do per the law,” he says. He wants the sunset lifted to maximize the opportunity: “Don’t penalize the small business guy. Give him a chance.”

 

Read more http://www.inc.com/news/articles/201112/sba-program-to-free-up-funding.html 

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

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

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/

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

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

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

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

Rush to Drill for Natural Gas Creates Conflicts With Mortgages

Considering signing a gas lease?  There's much more to think about than money in your pocket.  What really pays is getting professional representation.

As natural gas drilling has spread across the country, energy industry representatives have sat down at kitchen tables in states like Texas, Pennsylvania and New York to offer homeowners leases that give companies the right to drill on their land. And over the past 10 years, as natural gas has become increasingly important to the nation’s energy future, Americans have signed more than a million of these leases.


But bankers and real estate executives, especially in New York, are starting to pay closer attention to the fine print and are raising provocative questions, such as: What happens if they lend money for a piece of land that ends up storing the equivalent of an Olympic-size swimming pool filled with toxic wastewater from drilling?


Fearful of just such a possibility, some banks have become reluctant to grant mortgages on properties leased for gas drilling. At least eight local or national banks do not typically issue mortgages on such properties,  lenders say.


A credit union in upstate New York has started  requiring gas companies to promise to pay for any damage caused by drilling that may lead to devaluation of its mortgaged properties. Another will make home loans only to people who expressly  agree not to sign a gas lease as long as they hold the mortgage.


More generally, bankers are concerned because many leases allow drillers to operate in ways that violate rules in landowners’ mortgages. These rules also require homeowners to get permission from their mortgage banker before they sign a lease — a fact that most landowners do not know.


Last year, Jack and Carol Pyhtila spent several weeks working to refinance the mortgage on their roughly 30 acres in Tompkins County, N.Y. But when they arrived to sign the mortgage, the lender, Visions Federal Credit Union, had taken a closer look at the lease on their land and revoked its offer, said Mr. Pyhtila, 72.


“They told us there was not enough information yet to know how the lease would affect the property value and they were not sure if it followed the mortgage rules,” he said. Another bank agreed to refinance their loan several months later.


Lenders predict that the conflicts between leases and mortgage rules are not likely to cause foreclosures, nor have they resulted in broad litigation or legislation. But many of the leases do  constitute “technical defaults” on the mortgages, lenders say, and will likely result in new rules from local banks and additional hurdles to getting a home loan or refinancing a mortgage.


Some real estate agents have started raising red flags.


“When you decide to sell your house you may find it difficult to do so because many banks, here and elsewhere, will not mortgage properties with gas leases, which, in turn, limits the number of buyers willing and able to buy your property,”  wrote Linda Hirvonen, an agent in Ithaca, N.Y., in a newsletter last month.


Banks establish rules for how mortgaged properties can be used, to help ensure that they will hold their  value. Banks also need to guarantee that their mortgages meet certain standards so that they can sell them to institutions like Fannie Mae and Freddie Mac, which bundle and sell these mortgages to investors.


“In terms of litigation, there is a real potential for a domino effect here if lenders at each step of the way made guarantees that are invalid,” said Greg May, vice president of residential mortgage lending at Tompkins Trust Company, headquartered in Ithaca.


Banks resell more than 90 percent of new residential mortgages in the United States to institutions like Fannie Mae, Freddie Mac and Ginnie Mae. It is not clear how many mortgages held by major secondary lenders or investors have oil or gas leases on them that do not comply with mortgage rules.


But if even a small percentage do, tens of billions of dollars in mortgages might be affected, raising new concerns for an industry that has suffered in recent years from home loans that proved much riskier than expected.


Some lawyers who specialize in oil and gas leases said they were not worried.


“The leases have not created any practical conflict or issue with mortgages,” said Adam J. Schultz, a lawyer in Syracuse, adding that there are thousands of gas leases on mortgaged properties in New York and Pennsylvania and that state environmental regulations helped protect property values.


Most of the bankers and mortgage experts interviewed also emphasized that they were not opposed to expanded drilling. The surge in such drilling has created thousands of jobs, bolstered American energy supplies and turned some landowners into millionaires, they said.


However, the banking industry is only starting to appreciate the complexity and possible consequences, they added.


“It’s truly Pandora’s box,” said Cosimo Manzo, a vice president of First Heritage Financial, a mortgage services company in Philadelphia, during a  presentation to Pennsylvania lenders posted online in July by a state credit union association. He also compared getting leases to comply with mortgage rules to solving a Rubik’s Cube.


If local banks do not require that leases comport with mortgage rules, Fannie Mae and Freddie Mac may stop buying mortgages from these banks, Mr. Manzo said. Other experts warned that the two institutions, or investors who bought mortgage-backed securities, may also force local lenders to buy back noncompliant mortgages.

Read more http://www.nytimes.com/2011/10/20/us/rush-to-drill-for-gas-creates-mortgage-conflicts.html?_r=2&ref=naturalgas