Placemakr, a flexible-use hospitality and multifamily operator, has launched the company's first property in Pittsburgh. The new location will have both short-term hospitality stays in furnished units known as Placemakr Downtown Pittsburgh, as well as residential leases in unfurnished units known as The Pennsylvanian. Placemakr will begin operating The Pennsylvanian multifamily residential offerings immediately. Hospitality style short-term stays will be available starting in the second quarter.
The new property has more than 240 units, which will include a mix of furnished and unfurnished options. Units include studios, as well as one- and two-bedroom apartment-style accommodations. The Pennsylvanian is a historic property in Pittsburgh with beaux-art architecture and was the site of the former Pennsylvania Railroad Station. The Pennsylvanian also has one of the most popular venues for weddings in Pittsburgh, The Grand Hall at The Pennsylvanian, which Placemakr now operates.
“Pittsburgh is a metro that has been on our radar for a while now," said Jason Fudin, CEO and co-founder of Placemakr. “This area represents so much of what we look for when we identify new locations for Placemakr properties, including attractions spanning work, leisure, entertainment, and more.”
Placemakr Downtown Pittsburgh is close to the Convention Center, The Terminal, Market Square and PPG Paints Arena. As Pittsburgh's economy continues to grow, driven by expanding tech and healthcare sectors, the demand for flex-living solutions is increasing. The location is directly connected to the Amtrak station, making it convenient for travelers.
"Acram is committed to continuing to be a part of the growth of the Pittsburgh market and to bringing the highest value possible to each of the properties we own. It's for that reason that we're so excited to bring on Placemakr, with its innovative approach, to manage this iconic asset," said Chris