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Faros Properties Receives Prestigious Office Renovation Award for Nova Place from NAIOP Pittsburgh

Pittsburgh, Pa.- (March 2, 2018) Last night, the Pittsburgh chapter of NAIOP honored the who's who in real estate at their annual awards banquet. Faros Properties was among the distinguished list of companies to be recognized for their remarkable contributions to the real estate industry.
Faros Properties thanks NAIOP for acknowledging Nova Place and presenting us with the Office Renovation Award. This award recognizes Faros’ level of achievement in reclaiming formerly abandoned/undervalued property and converting it into a socially viable development.

“We wanted Nova Place to be the driving force in the renewal of the North Side and downtown Pittsburgh. The goal was to create a dynamic environment with the apartments, office space, and retail. Nova Place will continue to serve as a place of innovation for how a community can reinvent itself,” said Faros Properties Managing Partner Jeremy Leventhal.

The uniqueness of the development strategy, overall design, quality of amenities provided, attention to tenants’ needs, and the level of contribution to the community were other determining factors in receiving this award.

“Thanks to our dedicated and talented management team, architects, contractors, and brokers, we were able to successfully renovate, attract new companies, and increase overall satisfaction of current tenants at Nova Place,” said Faros Properties Managing Partner Elliot Gould.

Formerly the Allegheny Center Mall, Nova Place is a 1.5 million square-foot office complex undergoing a multi-million-dollar renovation to transform the property into a first-class campus providing a corporate environment for current and future tenants to work, live and be inspired.

“Nova Place is a beautiful property with a sorted history, and we were very proud for the opportunity to restore it and create something new and viable,” said Faros Properties Managing Partner Alexander Leventhal. “Nova Place is still rich with potential and so are our plans for its future.”