PMC Acquires Pittsburgh’s Schenley High School

Pittsburgh, PA — PMC Property Group recently acquired the Schenley High School building in Pittsburgh's North Oakland neighborhood, and plans to convert the historic property into a luxury apartment community.

The school, which opened in 1916, is a Pittsburgh landmark that is listed on the National Register of Historic Places. It is notable not only for its unique triangular shape, but also for turning out such high-profile graduates as artist Andy Warhol and jazz musician George Benson. After the school closed in 2008 due to the need for extensive repairs, the building sat vacant for several years until it was offered for sale.

With a focus on preserving the historic integrity of the property, PMC anticipates investing more than $35 million into its renovation to create 160 upscale one- and two-bedroom apartments. The Schenley Apartments will house an array of amenities, including a fitness center and on-site parking.

Schenley High School is PMC’s ninth project in Pittsburgh, and will be PMC’s sixth historic renovation there, joining 201 Stanwix (the former Verizon building), the Clark Building (717 Liberty Avenue), 908 Penn Avenue, 526 Penn Avenue, and the former James Reed Building at 600 William Penn Place, along with several other projects that have been completed or are in varying stages of development. “We are excited to continue transforming some of Pittsburgh’s most important historic properties from obsolete, empty relics into modern and dynamic urban living spaces," noted PMC Executive Vice President Jerry Novick.

The project is now in the planning phase and is slated for completion in late 2014/early 2015.