Pittsburgh January 2021 – Key Take-Aways
- Grossman, Yanak & Ford’s Don Johnston and David Kerin kicked off the meeting with a packed overview of PPP1 forgiveness and the recent launch of PPP2 (with different requirements and thresholds than in round 1), the Employee Retention Credit (and how those that might have previously been blocked from receiving this credit are now potentially eligible) and the pluses and minuses of the elements of the Biden Tax plan and how that might play out in the next 12-24 months. There are several opportunities out there for businesses, but parties should work with their consultants quickly to identify next steps. Jeff Ford also advised that 2021 will likely remain challenged in some sectors, while clients are busy, they do remain cautious.
- Jim Ambrose with Desmone Architects reports that they are seeing lots of RFP’s and inquiries but with few decisions being made. Single family and multi-family residential are the most active products in the market.
- Hanna Langholz’s AJ Pantoni is seeing activity as optimism of the ‘vaccine economy’ is easing the uncertainty everyone has had.
- Erin Bell with Mosites is continuing to work diligently with tenants who are asking for help with a goal to keep things stabilized for all parties while also looking at what capital improvements might be needed to ensure buildings remain attractively competitive.
- Franklin Interiors’ Jackie Dallier echoed Jim’s comments about being very active in the multi-family market. On the office market front, they are in a consulting mode with clients as they continue to grapple with the future of the office.
- Amanda Buczynski with Falkbuilt has been active in the healthcare space with the buildout of covid treatment and vaccine administration spaces; also seeing standalone clinics in the works versus larger patient towers. In the Higher Ed space, anything underway prior to March 2020 continued on, but she is not seeing any new projects.
- New Member Jim Futrell with the Allegheny Conference on Community Development shared they too are seeing upticks in the manufacturing, distribution and life sciences sectors. They are also heavily engaging in research and putting together focus groups to talk about the market dynamics and the regions’ preparedness to be competitive coming out of the pandemic. Welcome Jim!
- Pittsburgh Champion Gene Boyer of HB Development closed out the meeting on the up-note that 2021 is teeing up to be a great year with activity in the mixed use space with townhomes and single family residences and work in the modular build space, not only in Pittsburgh but in the Southeast.
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