The Next Hot ‘Hoods in Pittsburgh

Debra Smit
Pittsburgh Magazine

“Great neighborhoods — with ample green space, commerce and good housing stock — empower their residents to grow and prosper. Developers are key when it comes to weaving together the physical threads of a community, particularly in urban neighborhoods frayed by years of blight and decay. These are among the developers who are working to revitalize some of the city’s most challenged neighborhoods, striving to be restorers of streets in which to dwell. All have one eye, certainly, on the bottom line. Still, they are well aware of expectations that they give measured consideration to quality of life in the neighborhoods in which they build.

When Gregg Perelman and Todd Reidbord founded Walnut Capital nearly 20 years ago, the Pittsburgh market was ripe with opportunity. 

Since then, Walnut CEO Perelman, 59, and Principal and President Reidbord, 57, have aggressively amassed a portfolio of 2,500 dwellings, retail and commercial properties worth more than $500 million, changing the face of many urban neighborhoods by populating them with pet-friendly, luxury apartments and townhouses packed with roof decks, fitness centers, yoga studios, pools and shared bicycles.”

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