Point Park University purchases former CVS building in downtown Pittsburgh

Point Park University, in partnership with Mayor Corey O'Connor's Main & Main initiative, announced it has purchased the former CVS building in downtown Pittsburgh. 

The building, located at the corner of Smithfield Street and Forbes Avenue, is next to the Pittsburgh Playhouse and will expand the university's footprint in the city. 

"Point Park University is part of the fabric of Downtown Pittsburgh, and 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. "We are excited about the possibilities the building provides us, particularly because of its close proximity to the Pittsburgh Playhouse."

Point Park University and the Urban Redevelopment Authority closed on the sale on Wednesday, and it will be announced to the board of directors on Thursday. 

"We've seen how Point Park University's investments have brought vibrancy to Downtown, from the Pittsburgh Playhouse to new housing and now the purchase of this cornerstone property," Mayor O'Connor said. "I'd like to thank Point Park for once again stepping up and partnering with my administration to invest in the future of our city." 

The three-story, 42,000-plus-square-foot building takes up nearly a full city block on Smithfield Street. Along with the sale of the building, the city will soon break ground on a modernization and reconstruction of the street and sidewalk later this month. 

The purchase was made possible through donations from the Allegheny and Burke foundations, and Point Park has said it expects other benefactors in the future. 

The university is expected to announce what it will do with the newly acquired building at a later date.