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Liberty Bank Building, LLC

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Location
6101 Penn Avenue
Pittsburgh, PA
County
Allegheny
Description
Refinance
Total Project Cost
$1,655,471
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People

The Liberty Bank Building, an historic six story building, and the Beauty Shoppe, a Pittsburgh-based co-working operator, are together planning to reposition the building as a flagship Beauty Shoppe Location.

Progress

Converting the Liberty Bank Building to a co-working building will complete the next phase of this building’s storied history – from an historic bank building dating pre-1900 into an innovative hub of activity. The Progress Fund was able to provide a $1,655,471 loan to refinance existing debt, which will allow the building to reinvest the savings into future updates and improvements.

Impact

The building was originally built to house the Liberty National Bank, which survived into the Great Depression.  The building became a less desirable business location with the general decline in East Liberty’s commercial appeal around the mid-20th century.  In 2003, Eve Picker, owner of No Wall Productions, purchased the building from the city with her sights set on redeveloping it into a startup workplace market.  Since its redevelopment, the building has played an important role in East Liberty’s nationally recognized resurgence providing office space to a variety of award winning early stage technology and media businesses.