Jim Apple
Pittsburgh,, PA (USA)
Role(s):
Signature Hotels
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Startup
Location:
Pittsburgh,
Industry:
Hospitality
Year Founded:
2007
Number Employees:
INVALID
Description:
We have a 100+ acre site on the major artery between downtown Pittsburgh (10 minutes away) and the airport 15 minutes away. Also, a very profitable casino has been running for just over six months, which is 10 minutes away down the major highway. Another major casino is being built now in downtown Pittsburgh, so the timing is perfect to get this deal done now. This land is right near several hugely successful retail developments in Robinson Township, PA.
Already five of the necessary six parcels are under contract and we are negotiating with the final owner now. The raw land has been appraised at $185,000/acre, and they only need about one-half of that value, $9,000,000, to acquire all of these properties and build the road and infrastructure needed. We have already had serious inquirie