The University of Pennsylvania has joined forces with a local developer experienced in the conversion of historical buildings. The conversion will occur through a partnership between the developer and the university. The developer will have control of the building for 40 to 50 years, while the university will retain ownership of the land. In the city of Pittsburgh, rental vacancy rates remain low as an increasing number of new residents to the metropolitan area seek rental housing close to work. The Pittsburgh Urban Renewal Authority approved an agreement with Continental Communities Ltd. to build 300 apartments on the former LTV steel site on the southside.
Construction is scheduled to start soon.
Spotlight on Charleston, West Virginia The Charleston metropolitan area, consisting of Kanawha and Putnam Counties, includes the State capital and traditionally has had the most stable employment base in the State. Apart from government, employment is concentrated in chemical production and the trade and service sectors. Nonagricultural employment in the metropolitan area as of March 1999 totaled 132,900, up more than 2 percent from March 1998. State and local governments currently employ approximately 21,200 persons. The chemical industry employs fewer than 5,000 individuals, down 30 percent since 1990.