Asset Maximization Plan for Closed Schools

In 2012, Pittsburgh Public Schools selected Fourth River Development to initiate an Asset Plan to maximize the value of a portfolio of twenty-one closed school properties within the city. The plan consists of (1) a thorough investigation and evaluation of each school, (2) recommendations to reduce holding costs and increase value, and (3) creative marketing/sales techniques for these very unique and in many cases historical properties.

Asset Maximization Plan for the Pittsburgh Public Schools (PDF download 8MB)

To date, sixteen properties have been sold. Four former school properties and one large vacant site are currently available, in addition to eight small vacant parcels spread throughout the city.

*Former School Property*	*New Asking Price*
Arlington Elementary	$360,000
Bon Air	$55,000
Mann	$190,000
Belmar	$810,000
New Homestead (LAND)	$360,000

*Vacant Parcels*	*New Asking Price*
APN 003-S-077 (South Side Slopes)	$500
APN 050-B-156 (Garfield)	$500
APN 054-F-081 (Greenfield)	$500
APN 054-K-001 (Greenfield)	$500
APN 174-L-347 (Homewood)	$500
APN 174-L-349 (Homewood)	$500
APN 173-G-067 (Lincoln Lemington)	$500
APN 011-E-208 (Hill District)	$500

Information also available on the Fourth River Development, LLC website.

Request for Proposals

The School District of Pittsburgh Sale and Reuse of Surplus Properties

RFP Release Date: January 6, 2020

Proposal Deadline: February 14, 2020

Click here download the complete RFP for the former School Buildings and Vacant Land Parcels

Business Opportunities

Asset Maximization Plan for Closed Schools