Our New Property 'Town Place' is Opening Soon
May 17, 2018
Fortifying its position as a pioneer in the extended-stay hospitality space, BridgeStreet’s operating arm entered an agreement with Kossman Development Company to manage their new luxury corporate accommodations at Town Place under their Living Brand. Located on the bustling corner of Forbes Avenue and Stanwix Street just off historic Market Square, Pittsburgh, Kossman Development is completing a multi-million dollar renovation of a former office building. This newly designed building will feature 62 fully-furnished, studio, one, two and three bedrooms, high-end apartments that may be leased on a short-term or long-term basis to business travelers.
“BridgeStreet is excited to manage Town Place corporate accommodations as we extend our offerings and brand,” said Sean Worker, chief executive officer of BridgeStreet Global Hospitality. “As a thought leader within our own industry, we have a shared sensibility with Kossman in emerging hospitality trends. The location of this first project marries perfectly with BridgeStreet’s drive to provide guests with localized experiences in central locations.”
Kossman’s redevelopment of the former office building includes state-of-the-art green features, modern amenities that will address the needs of long and short term tenants. With the first floor dedicated to retail space and 8 floors of parking, Town Place will perfectly match the eclectic energy of historic Market Square’s new restaurants, watering holes, free events, the region’s best Farmers’ Markets, and new businesses.
Greg Kavanagh, VP of Sales Operations at BridgeStreet commented “We are delighted to be involved with the innovative team at Kossman, and it is very much in line with our strategy of growing our portfolio in capital and gateway cities throughout the U.S, particularly management agreements, where we can add value and enhanced returns to hospitality development projects via our considerable experience in the global extended stay sector.”
Town Place would be the first dedicated corporate-accommodations facility in the city that brings higher-end amenities.
“We think it's a great redevelopment in a high-profile location in the city,” said Curtis Kossman, president of Kossman Development Co. “Town Place would be the first dedicated corporate-accommodations facility in the city that brings higher-end amenities. We are fully confident Town Place is in good hands with BridgeStreet. Their ability to generate unique demand through their robust distribution and sales platform was another important factor in our decision.”