Warehouse near Heinz Field being converted to condos

Another condominium project is rising in the shadow of Heinz Field.

Reedsdale Associates LLC is planning to convert a five-story warehouse it owns between the football stadium and Rivers Casino into 38 condos, ranging in price from $200,000 to $900,000.

The new project, dubbed Eleven06, is in the works even as Continental Real Estate Cos., the developer for the Steelers and the Pirates, moves ahead with plans to build an eightstory building next to PNC Park that will feature 45 to 50 condos.

Combined, the two developments could deliver more than 80 residential units to a section of the North Shore where there has been no such activity since

the two sports venues opened 19 years ago.

The newest project, at 1106 Reedsdale St., represents a change of course for Reedsdale Associates, which has owned the warehouse since 1978 when Three Rivers Stadium was in its heyday. That stadium came down in 2001 to make way for Heinz Field.

A year ago, Reedsdale Associates had pitched a plan to convert the building into 33,000 square feet of office space, about 3,000 square feet of retail, and 20 apartments — each renting from $2,000 to $3,000 a month.

Now the building owner is betting that condos will be a better fit for the market.

“They saw more of a need for more homeownership opportunity and less rentals,” said Chelsea Peluso, spokeswoman for Piatt Sotheby’s International Realty, the broker for the project. “They felt like [rental] was getting a little oversaturated.”

Reedsdale Associates is planning one-, two-, and three-bedroom condos ranging in size from 500 square feet to 1,700 square feet. Amenities will include a private gym and a dog park.

Work has already started on the conversion, with construction to be completed by the end of this year. The first move-ins are expected in early 2021.

About 30% of the units already have been sold, according to Piatt Sotheby’s.

“We began presales on the project in late October and are thrilled with how well it is being received. We expect to be sold out by early 2021,” said Matt Gilley, vice president of new construction for Piatt Sotheby’s.

This is the third development go-around for the building. In addition to the retail, office and apartment project ditched in favor of the condos, the Northbank Hotel Group several years ago proposed a 129-room boutique hotel at the site.

That $10 million plan, which included a five-story addition to the warehouse, never got off the ground.

Continental, meanwhile, hopes to break ground this fall on the retail, office and condo complex adjacent to PNC Park and the Hyatt Place Hotel. The project — approved by the city planning commission Tuesday — involves four floors of retail and office and four floors of condos as well as a 445space parking garage.

It includes a 15,000square-foot “Pirates Plaza” near PNC Park’s home plate entrance.

One possible plaza feature is a tribute to the nine Pirates who have had their jerseys retired and to Jackie Robinson, the first African American to play Major League Baseball.

His number has been retired by all major league teams.

Continental has yet to set prices for the condo units.