McCaffery Announces Joint Venture with HIMCO to Purchase Encore Apartments in Downtown Pittsburgh
Pittsburgh, Pa. June 1, 2021—McCaffery announced today a joint venture with Hartford Investment Management Company (HIMCO), to purchase Encore Apartments, a 151-unit Class A building in Downtown Pittsburgh. McCaffery will provide property management services and oversee unit upgrades to the luxury high-rise building, previously known as The Encore on 7th. In addition, McCaffery will serve as commercial broker to lease the ground-level retail space.
Encore is an iconic 18-story apartment tower with 4,958 square feet of street-level commercial space in Downtown Pittsburgh’s Cultural District. Constructed in 2006 and LEED Certified by the U.S. Green Building Council, Encore offers the largest one- and two-bedroom apartment floor plans in Pittsburgh with unparalleled views of the Allegheny River, PNC Park and Heinz Field. Residents enjoy private balconies and king-sized bedrooms, a rooftop garden terrace, convenient access to the Central Business District and multiple highways, as well as ample parking in the attached Theater Square Garage.
“We’re really thrilled to have the opportunity to work in the Cultural District of this great city,” said CEO Dan McCaffery. “Surrounded by restaurants and theatres and so close to the river trails and the Strip District, it’s just a great place to be. We’re looking forward to providing our signature management services to make this apartment building the best you’ll find in the neighborhood.”
Over the coming months, McCaffery is formalizing plans with Pittsburgh-based architecture firm Desmone for phased renovation of The Encore's unit interiors and common areas. Early plans include upgrading kitchens, baths and amenity areas, updating the building lobby and entrance experience, and infrastructure improvements for technology access.
McCaffery served as the development consultant and residential lease-up manager for The Yards at 3 Crossings and Coda on Centre, led the historic renovation of The Cork Factory Lofts and developed Lot 24. Most recently, the company completed the adaptive reuse of 1600 Smallman and the $62.6 million renovation of The Terminal in the Strip District. Encore is the newest addition to McCaffery’s established Property Management portfolio, which also includes properties in Chicago and greater Washington, D.C.
Apartment hunters interested in more information about Encore Apartments may visit EncorePGH.com. Business owners interested in commercial leasing may contact Ross Modjeska at rmodjeska@mccafferyinc.com.