JLL Capital Markets secures $67M for multifamily project on North Shore

PITTSBURGH — A new multifamily residential development project is in the works for Pittsburgh.

According to a release, JLL Capital Markets has secured $67 million in construction financing for 21 West, a 291-unit “urban upscale” multifamily development on the North Shore.

According to JLL, it worked on behalf of the borrower, a joint venture between Oxford Development Co. and RDC Inc., to facilitate the four-year floating rate construction loan. The loan is from Dollar Bank.

“Pittsburgh continues to be a thriving metro area with a strong economy, highly educated workforce and exceptional quality of life,” the JLL release said. “The North Shore neighborhood, in particular, has seen significant growth and revitalization in recent years, attracting young professionals and families alike.”

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