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Old 03-28-2014, 07:28 AM
 
Location: Philly
10,240 posts, read 16,941,997 times
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right across the street
Chicago developer eyes Downtown Art Institute building - Pittsburgh Post-Gazette
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Old 03-28-2014, 07:41 AM
 
Location: Pittsburgh
1,776 posts, read 2,713,429 times
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Quote:
Originally Posted by pman View Post

Weird. I wonder if AIP is planning an eventual move or closure? Pretty desperate move if EDMC is starting to sell off assets.
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Old 03-28-2014, 09:38 AM
 
Location: Pittsburgh, PA (Morningside)
14,365 posts, read 17,227,479 times
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Quote:
Originally Posted by AaronPGH View Post
Weird. I wonder if AIP is planning an eventual move or closure? Pretty desperate move if EDMC is starting to sell off assets.
The new federal regs on requiring lower default levels on student loans are going to absolutely hammer for-profit college groups like EDMC. Art Institute in particular is probably in worse shape, given it's not exactly the best career choice for paying back costly student loans.
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Old 03-28-2014, 10:05 AM
 
Location: Pittsburgh
1,776 posts, read 2,713,429 times
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Originally Posted by eschaton View Post
The new federal regs on requiring lower default levels on student loans are going to absolutely hammer for-profit college groups like EDMC. Art Institute in particular is probably in worse shape, given it's not exactly the best career choice for paying back costly student loans.
Oh I'm totally aware as I'm a graduate from there. One of the few that managed to make it through and land a good job. Almost everyone else burned to a crisp, career-wise. On one hand I'd hate to lose a lot of the EDMC corporate jobs – they employee a lot of young professionals. On the other hand, they are a horribly evil company and I am really enjoying seeing the feds stick it to them.
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Old 04-22-2014, 07:20 AM
 
Location: Philly
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so far downtown has been able to absorb all the new units
Reis Report: Pittsburgh's apartment vacancy rate at 3 percent - Pittsburgh Business Times
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Old 04-22-2014, 07:36 PM
 
706 posts, read 1,056,133 times
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Quote:
Originally Posted by pman View Post
As far as Downtown, I think this is only the tip of the iceberg. Once The Tower at PNC Plaza and The Gardens are completed in late 2015, that will open up Downtown even more in the Wood, Forbes and Market Square area. This will make Downtown even better, not to mention all of the other improvements in the pipeline like Point Park and one or two potential new office buildings. It will lead to even more people wanting to be in an albeit not inexpensive Downtown, but one that has the feel a mini Manhattan with prices that are a bit more palatable. People want to be Downtown. It has a ton to offer. I foresee many upper floors of older building being converted into flats in addition to some new construction in a two or more residential high rises being proposed in the next few years. Riverparc anyone? Nevermind.

Last edited by Gee Whiz; 04-22-2014 at 08:21 PM..
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Old 04-22-2014, 07:56 PM
 
Location: Philly
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there are other large conversions underway already i believe. monaco is due to open by years end and i think pmc has another project coming online.
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Old 04-23-2014, 07:49 AM
 
Location: Pittsburgh
1,776 posts, read 2,713,429 times
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^ The Clark building will be a big one. A large number of apartments, very visible, and smack dab in the middle of Liberty Ave.
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Old 04-23-2014, 08:02 AM
 
Location: South Hills
632 posts, read 860,188 times
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Quote:
Originally Posted by eschaton View Post
The new federal regs on requiring lower default levels on student loans are going to absolutely hammer for-profit college groups like EDMC. Art Institute in particular is probably in worse shape, given it's not exactly the best career choice for paying back costly student loans.
Same reason the Culinary Institute shut down a few years ago.

EDMC got hammered hard a couple of years ago by a cover story in one of the business magazines (Forbes or Fortune, don't recall which) that profiled a female AIP grad who could not find work as a graphic designer anyplace. She had become a stripper in Florida and said it was the only way to earn enough cash to pay off her student loans.
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Old 04-23-2014, 08:21 AM
 
Location: Philly
10,240 posts, read 16,941,997 times
Reputation: 2980
Quote:
Originally Posted by AaronPGH View Post
^ The Clark building will be a big one. A large number of apartments, very visible, and smack dab in the middle of Liberty Ave.
indeed, currently leasing. monaco in the fall, the civic building
Once used for shopping, Pittsburgh's Clark Building soon will house apartments - Pittsburgh Post-Gazette
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