Here’s the Scoop

Otto in the News, what’s going on and what’s going to happen. It’s all right here.

Pittsburgh Among Cities with Best Housing Markets in 2012 (1.9.12)

More good news for local homeowners and buyers: MSN just listed Pittsburgh as one of the top five cities with the most promising housing markets in 2012. The article on MSN mentions that the job base of colleges, hospitals, and other health-care employers is growing, and that incomes in the city are slightly higher than the national average. And with the economy showing signs of picking up (the national unemployment rate recently fell to 8.5%, the lowest level since February 2009), there hasn’t been a more promising time in recent years to invest in a new home in the city.

Read full article (MSN)

Pittsburgh is Officially Cool (1.4.12)

Coming right on the heels of our last post about Pittsburgh making Mercer's list of the top 50 global cities for quality of life (see below), more evidence has emerged that Pittsburgh's public image is improving: we made the Washington Post's annual list of all things trendy (in) and tired (out). Guess who's in? You guessed it. Check out some explanation in the following article. We take no ownership in the Portland-bashing in the article. We're just glad for the good press!

Read the article (Washington Post) 

Pittsburgh Among Top 50 Global Cities For Quality of Life (12.5.11)

Once again, Pittsburgh has made an impressive list: the 2011 Mercer top 50 quality of life ranking for cities around the world. Mercer is a London-based consultancy focused on human resources and financial advising. The company listed Pittsburgh tied for 49th place worldwide. Vienna, Austria was ranked number one. Only seven US cities were ranked above Pittsburgh: Honolulu, San Francisco, Boston, Chicago, Washington, New York, and Seattle.

This serves as more evidence that Pittsburgh has done an amazing job of cleaning up it's image over the last half century, from it's perception as a heavily polluted, industrial city to that of a progressive, tech-savvy, clean and green, and vibrant one. As native Pittsburghers, we are proud to see the results of many years of advocacy, public policy, community-building and decision-making from our fellow citizens that has made the city what it is today. And we are excited for the future!!!

Read the full report on Mercer's website 

NY Times Article: Death of the Fringe Suburb (12.2.11)

Check out this interesting op-ed in the New York Times about the shifting trend from  suburban to cosmopolitan living, particularly with baby boomers. Here's an excerpt:

"Simply put, there has been a profound structural shift — a reversal of what took place in the 1950s, when drivable suburbs boomed and flourished as center cities emptied and withered...Many boomers are now empty nesters and approaching retirement. Generally this means that they will downsize their housing in the near future. Boomers want to live in a walkable urban downtown, a suburban town center or a small town, according to a recent survey by the National Association of Realtors."

Read full article (New York Times)

 

Otto Milk Featured on Pittsburgh Today Live (KDKA) (11.16.11)

Otto Milk was just featured on KDKA's morning show, Pittsburgh Today Live. Lead agent at Otto, Kathy Wallace, was interviewed for the 'Whirl Wednesdays' segment of the show. She spoke about the history of the building, the details of the property, and downtown living in general. Watch the video below and please share with others who may be interested in Otto! Also, look for an article about Otto Milk in the November issue of Whirl Magazine. Special thanks to the folks at Whirl for the opportunity!

Resident Testimonials (10.20.11)

We asked a few of our residents to share their thoughts about the buying process at Otto and their experience with the building. Here's what they had to say:

"We love our Otto condo. It came out just as we had hoped. Kathy, the agent, made the buying process seamless. The cabinets, flooring, and appliance choices were wonderful; the available upgrades we selected made our unit exceptional. We can highly recommend Jack Benoff and his team without reservation." –Dr. Robert Berk, Otto Milk buyer

“Otto milk is the perfect place for me to live. I don't own a car so it was important for me to live in a place where I could walk to get everything I need. Because the strip district has just about every type of business, I don't need to leave the neighborhood much. I really like living & working in a neighborhood that is undergoing a renaissance.” –Eric Meyer, Otto Milk Resident

“Working with Solara Ventures is always a pleasure. Buying my third condo in three years meant being a satisfied buyer for a third time. The Otto Milk Condos exceeded my early expectations, as had my prior purchases from Solara. The building is wonderful and Kathy Wallace made the process easy and enjoyable. Many thanks Jack and Kathy!” –John Jordan , Otto Milk Owner

Incentives for Otto Buyers + a New 2-3 Bedroom Unit in the Latest Otto Milk Newsletter (9.25.11)

In the latest issue of Milk Delivery, we introduce a new 2-3 bedroom unit and list some compelling incentives for new buyers...Read full newsletter

New Otto Photos on Facebook (9.23.11)

If you haven't visited our Facebook page recently, we just added some great new photos...View photos on Facebook

Advice for Otto Buyers From Jerry Pounds, Mortgage Rep at Wells Fargo (9.21.11)

Now is the time to finance your condo at Otto Milk. The Otto Milk condominiums qualify for FHA and Conventional Financing. The condos are already WARRANTED by FHA, Fannie Mae, and Freddie Mac. Your down payment on an FHA loan is 3.5% and on a conventional loan your down payment can be as low as 5%. Most importantly, rates are at historic lows. You can now get a 15-year fixed-rate in the low threes and a 30 year fixed rate in the high threes. JUMBO loan amounts over $417K are in the low to mid fours. Unbelievable! You can call me today at 412.606.6701 for a free pre-approval and/or free cost estimate on just how affordable these new Otto Milk Condos can be. Also, please remember to ask Jerry or Kathy Wallace about the 10 year tax abatement on the building. City living has never been so exceptionally reasonable!

City Unveils 20-Year Vision for Allegheny Riverfront (Post-Gazette, 2.15.11)

The city on Monday released a 20-year blueprint for transforming the Allegheny riverfront corridor from a faded industrial relic to a boom town, with new housing, businesses, industry, transportation connections and a complete environmental makeover...Read full article

Pittsburgh-Area Home Sales Jump in January (Pittsburgh Tribune-Review, 2.21.11)

Sales of new and existing homes jumped 8.2 percent in January over the same month last year, indicating a stronger housing market in the region for 2011, according to a new report...Read full article

Here Comes the Neighborhood! The Otto Milk Building Condominiums (Burgh Living, 12.10.10)

Jack Benoff is a busy, busy man. Trying to sneak in some time for an interview this past week was a challenge, but Jack has never met a challenge he couldn't conquer. We were successfully able to exchange a quick question and answer session via email, and now he is hunkering down and preparing for a feat that few developers can boast in this climate: 45+ closings on his latest project, the Otto Milk condominiums...Read full article

See & Bee Seen Tours New Otto Milk Condos in Pittsburgh's Strip District (WPXI, 10.7.10)

See & Be Seen toured Pittsburgh's newest, hippest urban loft spaces -- The Otto Milk Condominiums -- on Thursday during a reception.Guests were invited to view two lofts furnished by Perlora Leather and decorated with art by local artists. Check out the photos taken during the tour of the gorgeous lofts...Read full article

Home Buyers Don't Factor in the Cost of Commuting (Post-Gazette, 3.24.10)

Buyers who move deep into the suburbs to find bigger, nicer houses often fail to consider added transportation expenses that might bust their budgets, a new national study has concluded. Rising transportation costs are dramatically shrinking the amount of affordable housing in Pittsburgh and across the U.S., according to the report released today by the nonprofit Center for Neighborhood Technology, a group that promotes more environmentally conscious policies...Read full article

Pittsburgh Wants to Lure Google's Ultrafast Broadband (WPXI, 3.17.10)

Pittsburgh has joined the fray to be the test site for Google’s new ultra high-speed network. City and Carnegie Mellon University officials have joined forces to launch a campaign called “Ready, Willing and Able” to educate people about this new, fast Google connection...Read full article

Forbes Names Pittsburgh Best Housing Market (Pittsburgh Business Times, 2.22.10)

Forbes Magazine named Pittsburgh the best place to buy a house on its new list of America's Best Housing Markets. Using the Housing Opportunity Index, a metric created by the National Association of Home Builders and Wells Fargo, the magazine said Pittsburgh's appreciating prices, affordability rating and low number of foreclosures, which help keep prices stable, all factored into the city's ranking...Read full article

Read our Winter Newsletter (2.3.10)

Otto Milk officially breaks ground, notes from the developer, construction updates, and more...Read full newsletter

Ground Breaking Ceremony at Otto, with Honored Guest, Mayor Luke Ravenstahl (Pittsburgh Tribune-Review, 11.2.09)

Conversion of the former Otto Milk building in the Strip District into 56 condominiums, which began Monday, continues a two-decade trend in the city's Downtown and Strip District of converting existing, often warehouse-type buildings, into residential units. And most have been successful. Read full article, watch video on KDKA, or view photos on Flickr.

Construction Photos on Flickr (10.21.09)

New pictures of construction are now on Flickr...View photos

Read our Summer Newsletter (6.10.10)

Construction updates, architect profile, the Spirit of the Strip event, and more...Read full newsletter

New Photos posted on Flickr (5.11.09)

We took some new pictures and posted them. There are a few views from the building and some shots of the floors that were too dark to see before. View photos on Flickr

Is it better to Buy or Rent?(New York Times, 5.11.11)

Check out this nice Buy vs. Rent calculator.

Want to know what your payment will be? (CNN)

There are lots of online tools that can help you estimate your payment. CNN has a good mortgage calculator. Remember the LERTA tax credit will keep your property taxes to a minimum. Call us if you need to know how much to plug in to the calculator.

Otto Milk is Tweeting (9.12.08)

Follow @ottomilkcondos on Twitter to keep up with what we're doing.

$85K Bike Center Creates Secure Indoor Parking (Pop City, 1.20.10)

Pittsburgh will soon offer a secure parking situation for commuters who cycle rather than drive into town. The Bicycle Commuter Center has been built on the northern side of the Century Building in the Cultural District. The concept is simple...Read full article

Last Piece of Funding Approved for $1.3M Strip District Public Market (Pop City, 1.20.10)

The Strip District is one step closer to getting its long-awaited public market. Last week, the Urban Redevelopment Authority approved a $100,000 grant that will help make improvements to the market's future site at the Produce Terminal on Smallman Street between 18th and 19th Streets...Read full article

PDP Publishes LERTA Brochure
The Pittsburgh Downtown Partnership recently created a brochure to help condo buyers better understand the Downtown 10-year condo tax incentive program. It is a great tool...View LETRA tool

Trading Places

Pittsburgh Magazine April, 2009... Living downtown and in the nearby Strip District is a growing trend, and the number of residents there is expected to increase by 20 percent this year. Meet three couples and two singles who left the sprawling suburbs for high-rise living and are loving city life...Read full article

Mayor Sees City's Construction Levels as Positive Evidence of Another Renaissance

Sunday, March 01, 2009... By Rich Lord, Pittsburgh Post-Gazette. Kathy Wallace, vice president of development for Solara Ventures, walks through the Otto Milk Building in the Strip District, where she is lining up buyers to turn the site into condominiums...Read full article

Otto Buyer Email Blast

February 10th, 2009...We sent out our first buyer newsletter "MilkDelivery" to keep everyone updated with the happenings at the building. Click here if you would like to see it.

Otto Reaches 38% Presold!

January 25th, 2009...With 21 units sold and more reserved. In this economy that's amazing but of course our buyer's know the reason - because Otto is a great deal! I'll be sure to post construction photos soon so everyone can see what is going on.

RE/MAX Select is Selling Pittsburgh's Hottest Downtown Property

January 25th, 2009... When Philadelphia developer Jack Benoff was first shown Otto back in 2007 he told his agent that he’d “have to be crazy to buy this place.”...Read more

Just for Fun!

December 16, 2008... I found a "Otto Milk Company" engraved Zippo lighter from 1938-1939 online in the Zippo Gallery. I thought it was so cool that I should share it with all of you...View photo

Pittsburgh's Renaissance holds lessons for Cleveland (This is a great story about Pittsburgh, has a great shot of the Mayor on top of 941 Penn Avenue.)

Nov 23, 2008...The city that once defined rust belt decay might show the rest of the nation how to weather a recession. by Scott Stephens...Read full article

$9M 941 Penn welcomes first residents, $8M Otto Milk Condos 25% sold - Pop City

Nov 19, 2008 ...941 Penn Avenue Residences is welcoming its first occupants, while pre-sales at Otto Milk Condos have reached 25%...Read full article

Mayor visits 941 Penn Avenue buyers

Nov 13, 2008... On Wednesday, November 12th, Solara Venture's other Pittsburgh project got a visit from Mayor Luke Ravenstahl as he welcomed several of the building's new buyers. 941's buyer's are the first in the city to take advantage of the LERTA tax credits. Media from most of the major news outlets covered the story. You can read stories from the Trib and PG below.

Dowtown Lures Residents

Nov 13, 2008... Pittsburgh's strategy to lure people to live Downtown with the promise of 10-year tax abatements is showing signs of success, city officials said Wednesday...Read full article

Tax abatemet spurring city housing growth

Nov 13, 2008...John and Nasrin Jordan were getting tired of driving from Downtown events back to their home in Upper Burrell.

"We have symphony tickets and theater tickets," said Ms. Jordan, a managed care consultant. "We're a lot Downtown."

When they heard about a tax break for new Downtown housing, it occurred to them that there might be an alternative...Read full article

LERTA education event was a sucess!

Nov. 6, 2008... The LERTA event last night was a big success. Over 75 people attended the event at the Heinz History Center to learn how buying, building and renovating in the Strip adds up to BIG tax savings. Check out our tax page to find out more.

SIgn up for our LERTA Information Session

Oct 26, 2008... Neighbors in the Strip and The Otto Milk Building will be hosting a LERTA Information session on November 5th at the Heinz History Center from 5:30 to 7:00 to answer all your questions about the BIG tax benefits of buying at Otto. Click here for more information and to RSVP.

Otto's Flickr Gallery

Oct 10, 2008 ...We took some pictures today, check out the snapshots on Flickr. **Sorry, we had to take down the gallery for awhile. If you really want to see the pictures, please contact us and ask! **

Just the FAQ's

January 2011 ...Otto buyers are an inquisitive bunch. Here are some of the questions we have been asked. Go to FAQ to read them and if you have more questions, feel free to email us or give us a call at 412.288.2566.

Downtown condo buyers to get tax break - Pittsburgh Tribune-Review
Oct 16, 2007 ... A tax savings bonanza awaits those who build housing -- or significantly improve residences -- Downtown and in 28 other neighborhoods...Read full article

Animal owners find Downtown apartments accommodating - Pittsburgh

Jun 4, 2008 ... Otto Milk Co. building, 25th and Smallman streets. Weight: Less than 80 pounds. Limit: Two. • Gateway Towers, 320 Fort Duquesne Blvd...Read full article

Pittsburgh History & Landmarks Foundation » More condos proposed

Jul 07, 2007 ...The company is planning to convert the Otto Milk Building on Smallman Street between 24th and 25th streets into condos, with smaller units starting at...Read full article

Pop City - Up to 70 new condos planned for the Strip District

Dec 13, 2006 ...Jack Benoff, president of Solara Ventures, plans to bring up to 70 new condos ranging in size from 800 to 2,000 square feet, to the Strip District...Read full article

Pop City - The Strip District Investment and Business Guide

Oct 18, 2006 ... The same goes for the Otto Milk Building, which, with a lot of TLC and extensive rehab, could furnish a buyer with five stories and 15750...Read full article

Pop City - Downtown Living More Affordable Than You Think

Apr 19, 2006 ... Living in Downtown Pittsburgh is not only less expensive than you might think, but you might actually save money (not to mention time) by...Read full article

More housing slated for Strip - Pittsburgh Business Times

Dec 12, 2006 ...He compared the potential of the Otto Milk building with the nearby Armstrong ... Otto Milk equipment still inside the building suggests to Benoff that much...Read full article

Pittsburgh PA: Otto Milk Building in Strip District on Flickr

Smallman Street. Otto Milk Company delivered milk to front porches in Hendersonville, Pa. in the 1950's. In school we had to bring our own lunches...View photos

Pittsburgh Signs

May 01, 2004 ...The Otto sign caught someone’s attention. Lots of interesting comments about the history of the building and the company as well...Read full article