Point Park University has purchased the former CVS building at the corner of Smithfield Street and Forbes Avenue in downtown Pittsburgh, the university announced. The building, constructed in 1956, contains 42,440 square feet and sits adjacent to the university's Pittsburgh Playhouse.
The property had been vacant and was identified as a key opportunity for downtown renewal, according to the Mayor's Main & Main initiative for urban revitalization. Point Park worked with Mayor Corey O'Connor's administration and the Urban Redevelopment Authority to acquire the building.
The purchase was made possible through donations from the Allegheny Foundation and The Burke Foundations. The building encompasses nearly a full city block of Smithfield Street, where the city plans a complete reconstruction and modernization of the street and sidewalks later this month.
"This investment allows us to expand while doing our part to ensure Downtown remains strong and vibrant," said Dr. Chris W. Brussalis, President of Point Park. Mayor O'Connor said the purchase demonstrates how Point Park has brought vibrancy to downtown through prior investments including the Pittsburgh Playhouse and new housing.