Wait a minute....

So remember when the headlines about property assessments in Allegheny County were near apogee not very long ago?  I thought the clear message was that all the local real estate deals were being canceled because the owners didn’t like their assessment values. The end is nigh was the talking point all around.  Remember specifically when the headline was the assessments were so egregious that the planned sale of the former former Alcoa Building was not going to go through?  Trib on Jan 2012: Regional Enterprise Tower deal canceled.  The clear message was in this quote:

That will hinder a sale of the building, Allegheny County Executive Rich Fitzgerald said this week.

“You can’t give it away because no one wants to buy it and face the higher assessment on it as well as the major improvements the building needs,” he said.

Yet, miraculously the Trib over this last weekend: Building conversion to uproot agencies from Downtown.  That article says:

Novick said PMC will close its purchase of the Regional Enterprise Tower at 425 Sixth Ave. on Friday. His company, which specializes in restoring older commercial buildings for residential use, will convert the tower into a combination of half office space and half residential, he said.”

So the deal was not canceled for long. Not even any mention that there was angst over this not much more than a month ago.  It was slated to happen early in the year, and it happened by mid-March.  Was the deal even delayed?  Any other non-cancellations of Downtown real estate deals out there?

Anyway.  Given the headline last week that still has me in a bit of cognitive dissonance with all past reporting on the subject of assessments (see the  PG last week: “Higher assessment could mean lower bill for many“),  I thought the angst level over all the assessment news had subsided.

But where did that headline come from?  I mean, what was January all about?? Nothing at all has changed in how the assessment will impact property owners from the first release of numbers in December??   Nothing has changed in the process and that headline could have been dropped in December for all we have learned since then. Has anything really changed since January?

In fact, legally speaking, the actual assessment process looks to be about as contentious as ever at least.   For example, Judge Wettick has a proposed ruling in the case that has some awfully curious language.  I will leave it to the leagle beagles whether this is normal verbiage in court orders, not that there is anything normal in the case, but parse the wording of the following proposed ruling he will be holding hearings on.  So this is not from January, this is recent:

and again, what does the assessment mean to me?

So folks in the north and west of Allegheny County getting their new assessment values in the mail.  Like most everyone else in the county there is likely a lot of confusion by what the letter is telling them since it says so little.  All it has are new and old assessment values and likely some verbiage that this is all not their fault, that the whole assessment is ‘court ordered’.

Per the Allentown Morning Call, here is what Lehigh County in NW Pennsylvania is sending out right now… and remember, they started Lehigh County started their assessment process years after Allegheny County started… so it isn’t the case Allegheny County has not had time.  Anyway, per the MC:

The assessment letter should tell you that your taxes are projected to increase or decrease. For estimates based on current tax rates, you should go to mylehighcountyproperty.com and enter the control ID listed in the upper right corner of the letter. You can also call the assessment office and provide your control ID. While they won’t tell you over the phone, they will mail a tax estimate to you.

and so.. if you want Allegheny county do do the same for you, maybe you want to contact your county council representative. It would be a fairly simple thing for the county to do here.  No reason they still can’t do it.

For the City of Pittsburgh my colleagues made the map below showing the valuation changes per parcel for the city of Pittsburgh. You can get a high resolution version of that via this post or access an interactive map to zoom in ever further via this post.  Note the map is not showing tax changes, but just the changes in property values.  No adjustment is made for the millage changes which will be mandatory.

Assessment angst around?

So am I misperceiving things, or is angst over reassessments pretty quiet?  A decade ago the surge against assessments was virtually nonstop for over a year.

Anyway. In the news today is a note that a Downtown office building, Penn Avenue Place. sold for $54 million.   It’s current assessed value: $35.9 million.   It’s 2012 assessed value: $50.9 million.

Just saying is all.

Actually what is kind of remarkable is that the news item, albeit a short real estate note, does not mention even in passing that the property is that which was once Horne’s Department Store.   Memories.

apologies: Sam caught this days ago, and of course connected the dots with Hornes.

Forbes: Tax Shelter from Hell - U.S. Steel Tower in Pittsburgh

I was going to label this ‘Beyond grad school public finance’, but I thought that would make folks’ eyes glaze over.  So this is one of those convoluted policy things in Pennsylvania that make it too hard to figure out what side you are even on.  The angles and implications of this are so wound up that the public can’t make sense of it, nor even notice.  Yet the $ implications for city, state and taxpayer are huge…. and according to this piece the world should notice when it comes to investing in Pennsylvania I guess.

So, I get ahead of myself. First try and get through this from Forbes last week:  The Tax Shelter from Hell – U.S. Steel Tower in Pittsburgh

So remember the Steel Building’s recent sheriff sale/transfer that generated no transfer tax revenue for the City of Pittsburgh? We’ve addressed that a bunch here in the past.  Some are trying to plug this particular loophole I read, though there are others to address as well.  Any progress there??? Becoming a bigger and bigger issue since by all accounts the commercial real estate market is heating up.

So what I get out of this begins with the observation that the state may in fact have a real incentive to not fix the tax loopholes that prevented the city and school district from getting the transfer tax they could get from a real estate transaction like this.  Structuring this as a sheriff sale transaction prevented the city and school district from getting transfer tax revenue, but may have resulted in the state being able to collect real tax $$ that they would not have otherwise been able to get.  Or so I think, I have to admit this is all a bit beyond me as well. What I think it is saying is basically everyone loses on the sheriff sale tax loophole in the transfer tax… everyone except for the state itself.  And along the way they may provide a disincentive to investment across PA along the way.  But to be clear, I am not sure on any of that.  Sounds like even the tax lawyers don’t quite agree on any of this.  Still a multi-million dollar a year issue for the city of Pittsburgh that gets far less attention than things worth orders of magnitude less.

Anyway… lots of stuff in that worth reading.  Thought I guess it is only for a certain jaded reader.  Note that the original Forbes article there which came almost a week ago has had zero tweets.

Assessment cycle anew

News accounts say that Allegheny County has today posted online its new assessment values for southern municipalities.  For all those folks, and everyone else in the county, my colleagues have made up a useful interactive map with all recent real estate transactions across Allegheny county.  It might be helpful for example for those looking to appeal their assessments and are looking for the comparable values near their home.

You know what is even stranger than the fact that Lehigh County in NE PA is also completing their mass reassessment a lot faster and cheaper (by far) than here.. they are also finishing it all with far less news about the whole process along the way.  Strange.  But here is a story of their process up there from a few days ago and an unfortunate property owner only now discovering he has been overpaying property taxes for a decade.

Digging into the numbers

So I lied. I did. But don’t expect much more this week.

Anyway we are getting there..  albeit slowly.  Read the PG piece today carefully please: Allegheny County reassessment favors properties with higher prices, review finds…. and the penultimate comment. :-0 Seriously though, I would concur with and beyond what the PG is observing in their ward by ward level analysis. In fact the regressivity of property assessments is a bit starker than you can see when looking ward by ward as they do. Ward by ward tend to even out what is clearly true that the new assessment values are progressively more under assessed (or is the semantics better described as regressively more) for higher valued properties. By the time you get to $300K properties it becomes undeniable yet those are some of the angriest people out there.. at least from whom I hear from directly.

BTW.. note also relevant PG letter to the editor today on topic.

This is entirely an artifact of self-selection, but it is remarkable how many home owners in Shadyside and Squirrel Hill or environs have talked to me about how their own properties were overassessed. Look at the Post Gazette numbers and you begin to see what is incontrovertible that pretty much everything valued over 150K (I would put the point lower actually) is under assessed. As you get into higher valuations the level of underassessment can be quite large. You can go back and look at my own graphing of sales value to new assessment numbers and for properties valued over 100K or so there just are very very few sales in 2010 that came in at values below new assessment values.  Virtually all sales transactions are coming in above the new assessment values and far above the old assessment values.

Just a point in passing, but note the clear PG point: “properties that recently sold for between $100,000 and $150,000 were, on average, accurate.”

What the PG analysis does not get into at all is how under assessed the higher valuations are in the current assessments. I think equally incontrovertible is the observation that the base-year assessments currently in use higher valued properties are far more under assessed than in the new numbers. I wish they dug into the comparison of old assessment values to current market values which they mostly skipped in the piece today. But I suspect they will be at this for some time. I do with they did this separately for residential and commercial parcels, but that is more judgment call than anything else. Just lots of different things going on in commercial markets than residential markets in the region.

A point in there is what we should all be focusing on. There is no doubt that the county’s preferred method of ‘fixing’ assessment values though the appeals process is just not a fair way to fix more than extreme cases. If there are systematic problems you want to do it uniformly because the access to quality appeals is going to be highly self-selected with income. I hope someone tracks the appeals process to see if any value changes make the inequity issues being observed better.. or if things wind up worse in the end.

Also with appeals there is a bigger deal. One of the big problems with the political rhetoric of late is that I am speculating most school districts and municipalities are being spooked out of doing their own fiduciary responsibility and appealing the obviously low valued assessments. Just as individuals will appeal their own valuations to get a fair assessment.. if no taxing body appeals the obvious underassessments there are significant tax revenues being left on the table. But I bet the political climate prevents that routine administrative action from taking place. How big a deal could it be? Well.. just looking at the Post Gazette’s own data.. just looking at the 14th ward alone it says the average underassessment to market is 9% on an average market value of 287K. I’ll add a number that there are 10,718 parcels in the 14thWard… so you can do the multiplication of what the total value lost to tax revenues is notionally if you want. That is just one ward mind you. Someone should do the calculation of what the tax revenue lost in the current base year assessments is for the same set of properties which is going to be a much bigger number.   Maybe the county should be assisting local school districts in identifying potentially over assessed parcels and assisting with those appeals. Probably not.

Which gets to my comment in that. Property per property the underassessment of the higher valued homes has a far bigger impact on tax revenues at the end of the day. So even fixing half of that underassessment will result in millage adjustments that will in the end benefit lower valued homes that I bet are proportionally higher to lower valued parcels.

and at the end of the day we just miss the forest for the trees.  Set aside the level of accuracy in the assessments, new or old, take a look at that table and the average sales value of property in Knoxville!   Isn’t that the story here in the big picture.

For the folks really parsing this.  I like the fact the PG looked at the most recent sales, though I wold prefer folks parse commerical and residential parcels separately. There just are some very different things going on in commercial markets here than in a lot of our residential neighborhoods.  Also from what I read in the court filings the cutoff of sales data for this assessment happened early in 2011 and more reflects valuations from 2010 or before.  Given there is little dispute some neighborhoods are seeing appreciation in the most recent years, it begs a situation where some folks might really want this assessment to conclude quickly.  If we do this next year again those in appreciating neighborhoods may see even bigger changes than they are seeing now.  At least that is what the PG’s version of this all is saying to me.

and for thos really wondering..  it’s Newark airport.. what else am I supposed to do? Those who have been here understand. Though I have to say it is a far nicer terminal than when I first flew through 30 years ago flying Peoples Express and buying the ticket on the plane.  Can you imagine what TSA would say if someone tried to restart that business model?!

Heennnrrryyyy GGeeoooorrrgggeeee!!!!!

OK..  I can’t resist this one.  It’s just floating up there.

EPR has this story on County Councilman Matt Drozd upset over the valuations of 4 vacant properties he owns in the city. Their inconsistent valuation is evidence that the whole assessment is kaput. He really seems to say that his new property valuations are evidence that the reassessment of all 580 thousand properties in the county must be wrong.

So let’s see.  Indeed Mr. Drozd owns 4 vacant properties on Perrysville Ave.  Technically one is owned by him, and 3 others by DROZD DEVELOPMENT & CONSTRUCTION CORP. Here they are in the current assessment records.

The source of anger it seems is that all 4 properties were indeed assessed similarly at ($2000, $2100, $2,200 and $2,000) respectively.  Yet the new assessments:  $6200, $1000, $8000 and $8800.   Egads.  what is up with that?  We’ll come back to the $1,000 valued parcel in a minute, but the other prices all may make a lot more sense than you think.

First off, despite what is quoted in the article, they are not identical.. at least not in the parcel record which is consistent with the maps/shapes of these parcels..  The Sq. foot of each are: 2080, 2618, 2925 and 2800 .  So for the three of them, the assessment per square foot is much more consistent with the new valuations than with the old. An error?

Then…. Are these recent purchases?  No, it seems.  One bought in 1980.  Another couple  bought in 1994.  So they have remained vacant land in the city for literally decades. What were they bought for?  $450, $2,275, $2,275 and $4,323.  So he paid very different prices on them, maybe it makes sense they have slightly different values now?

Funny thing right when you think about it.  When he bought decades ago there was a land tax in the city of Pittsburgh so he likely had to pay the split tax which really hit vacant land harder than other properties.  He did well when the reassessment came in and got rid of the split tax in the city at the time.

So the property listed as $1000?  It is the only property listed as having no utilities and no off street parking.   I don’t see how 2 of them have off street parking as it is… All seem to have some hillside issues. Maybe if the good Councilman corrects the parking data on the property cards as they have shown for the last decade on those two properties he might get a big tax break administratively… no need to go to a formal appeal even.  Though what I really think is happening is that the low valued property is one that has signed away an easement for this billboard. If I am right it is another reason the parcels are not homogenous and clearly a disamenity for one of them… if I got the spot right which is unclear.

I’d ask for a commission on that advice for the savings he will get.. but it just can be much.  The county tax bill on each property now comes to about $9.38 per year.  With the 2% for paying early, and he does pay early each year it comes down to $9.19. Works out to 76 cents per month.  So 45 cents postage on the letter back to the county represents almost 5% of his entire tax bill.  I guess since he works for the county part-time, he might just drop it off and save the postage.

But this is the entire point of Henry George’s land tax.  Property in the city undeveloped is not supposed to happen.  So sitting on 4 city parcels for decades with taxes so low that there is no incentive to either develop or sell to someone who is willing to develop is exactly what you don’t want to happen for a city parcel.  Now with the new values jumping several hundred percent he might have to pay $25 in tax annually to the county.  Granted a bit more to the city and school district, but still.

and since everything gets tied together in Pittsburgh.  The nano-tempest over what percentage of Pittsburgh property owners who will see their taxes will go down with the reassessment??  Well, I excluded properties with previous values under $3K precisely to exclude the many parcels like these that just are not the point when you see the news interviewing long time residents worried they wont be able to pay their new tax bills.  These 4 parcels showed up as 4 datapoints in the other calculation.. not mine… so implicitly weighted the same as 4 life long residents elsewhere in city.  Does that make sense?

In the end though.. what looks to me like a prime example of the new assessments doing a lot better than previous values is turned on it’s head.  In this case the old values sure seem to have been done a bit superficially and clearly didn’t reflect what was different about the parcels.  Now that has been corrected, it is deemed to be evidence of gross error???

Best and Highest Value Use

So this is interesting and no, this isn’t really about assessments. I mean, it is about assessments, but there are so many bigger issues rolled into this new legal development.

In the new litigant a week merry-go-round in Judge Wettick’s courtroom (it really must be getting crowded), the latest is the (collective) property owner of one R.J. Casey Industrial Park who has a slew of issues.

One of many points is a contention that it is against Pennsylvania’s uniformity clause to assess commercial property differently than residential property which is indeed how it is done here and most everywhere else. Problem with that is that commercial properties across the state have been assessed different than residential properties for decades. So I will let the attorneys fight over that one, it is just one of the issues.

Then they seem to point out the dearth of information on the assessment. Here are points 16 and 17 in their filing:

16. Regarding commercial properties, the Property Record Cards available for purchase on the Third Floor of the County Office Building, do not contain any information on the New Assessments.

17. Accordingly, unlike residential property owners, commercial property owners evaluating their New Assessments have no access to any information that the County used to determine the New Assessments.

Lots of capitals in that, but to be sure I feel their pain. Though I do get a chuckle of someone really digging up (and dusting off) a property record card and expecting to find much relating to the latest machinations written down in ink. Are those things still written in cursive? For the record, the online information is just a small part of what what went into determining new residential values.  I see no reduced form from any of the many regressions that were used.  ‘Comps’ are at most part of the equation and many overinterpret their role in the assessment I am pretty sure.  There is a funny story back from when the original 2001 Sabre numbers came out which didn’t really used comps the same way CLT did.  The county web site did not list any ‘comps’ for a property, but people so expected to see them that eventually the web site was altered to show a few comparable properties that were picked ex post… though the properties listed really had no specific input into setting a particular property value becuase of the way the Sabre Systems algorithms worked. (that is a very short version of a very very long story.. but I digress).

To be fair I should go back to point 15 in the filing which is clearer and shows they did start out digitial:

15. Regarding Commercial Properties, the county provides no information online regarding the comparable sales used to determine New Assessments or even the gross square footage of an improvement on a commercial property. The County does provide this information online for residential properties.

Well, some information at least. Otherwise ditto.
Nonetheless, the motivation in the end must be to get a lower assessment and a lower tax bill.  First off realize that for commercial property across the nation the standard for property assessment is not market valuation that it commonly is for residential values but “Highest and Best Use of the real property”. For a lot of properties that distinction may not be such a big deal, but for some in certain unique locations it could be a big deal.

So here the property owner is upset having seen their assessment for 6 properties jump from $2.7 million to $11.3 million. A scary 340% increase in nominal value. Even with our notional revenue neutrality it works out to a potential tax increase of 280%, so more than enough to be upset. So.. is the increased assessment some gross error on the part of the assessors, or is something else going on?  Could it be the highest and best use for the property has changed?

Again, like the Mt. Washington parking space, we may have found the most exceptional case out there. Is there anything unique about this property?
So where is this property?  All of the properties at issue in the filing are located in the otherwise depopulated Chateau neighborhood (why we still call it a neighborhood is another issue since literally no more than 10 people live there.. likely a lot less.. unless you count folks sleeping under the slots machines I guess). The properties in question are all along the riverfront a helf mile from the edge of a property recently redeveloped and otherwise known as 777 Casino Dr. Nice new bike trail cuts through the properties in question and there are some nice marinas there it looks like.

So lets ponder the ‘old’ assessment values which everyone likes to refer to as 2011 values which they really are not. They are, again, base year assessments based on what circumtance were in 2002, if not prior.  Yes, the 2002 base year assessment really means that the ‘old’ values were based on what the market would bear for a property in 2002. Back then the idea of a casino was not yet really formed, and even if it was there was no thought the casino would be placed over on the North Shore there where the Rivers Casino wound up. Remember Don Barden really came in with a somewhat unexpected bid and was clearly not expected to beat out the Penguins backed project slated for the Lower Hill District, nor the Station Square locations that everyone was focusing on. The location on the North Shore and the big empty plot of land on the North Shore there was fallow and without anyone really expecting much to be made of it anytime soon. I am pretty sure that was a big drag on all nearby real estate. Even the North Shore Connector was so far from completion, and opposition so loud, that it would not have been reasonable for it to have had any impact on real estate values at the time. Now it is on the verge of opening. Could it not have some positive impact on land values anywhere near it.

So now, 10 years later.. it is not to say there is any vast demand for land over there and I am unclear was nearby development the casino has wrought… but would it really be reasonable to think there has not been any impact on nearby property which. In this case the 5 properties in question are add up to either 5 or 10 acres (I am confued because the itemized parce 22-J-67 is listed as being owned by the URA?? even though there is no mention of the URA in the filing??)  of land all effectively riverfront parcels though I am not sure if they own all the way to the river itself.

Someday when we ever really see data out of all this I will work up a map of the value per acre along all of Pittsburgh’s rivers before and after the reassessment.  It might be interesting to see how the price gradient moving away from the river has changed over time. It would be an interesting factoid at least to see if any of the vast efforts to redevelop our riverfronts have had any meaningful impact capitalized into real estate values of real estate close to the riverfront. Just imagine the counterfactual if they did not and what that would mean?

So there is a bit of Henry Georgism in the highest and best use construct. It is certainly true that the parcels might not currently be ‘worth’ the new higher assessments placed on them.. but if assessments stay low, and taxes stay low, there will that much less incentive to ever fully develop those properties to the “highest value” use.  There is only so much riverfront property near the Casino (and the stadia and the science center) to be had. I think that is the core reason commercial properties are assessed differently to begin with.

I’m thinking there is a future casino-annex hotel latent in the geography there. Best and highest value use?

Steerage lost

I said recently that it would soon be All Assessment All the Time for much of the 2012.  It was no joke.  Think I could get away with writing on something else today?  Guess not. Some quick hits:

PG talks about possible contempt of court outcomes in the latest develoments.  Truth is I am quite sure the county (the county itself, or its apparachiki in their official capacities) has most certanly been past the point of possible contempt citations many times in the past in all of this.  The problem is, as I am sure Judge has pondered, what exactly does that mean?  Does the Judge really want to be in the situation of holding a County Executive in contempt.  Then what?  Put his top functionaries in jail or fine them?  Seems pretty unfair to do it to the underlings, but just impractical to do much to the top dog.  Fine the county $ per day for noncompliance?  Well then, who is going to collect from the county if they prove to be continuingly uber beligerient?  Would county sheriff go around serving the county executive or otherwise enforce the judge’s rulings.  All becomes painfully more complex than even it is now and I suspect Judge Wettick has considered all that in detail.  Likely would get other common pleas court judges involved in related rulings that could themselves be inconsistent in the end.  Not good.
So if it is true that commerical values went up by 71% in the city of Pittsburgh, then to follow up on my post yesterday on the distribution of changes in assessment values, and the winners and losers that result, here some back of the envelope calculations.  Roughly I think 60% of city property tax revenue is from residential and 40% from commerical property.  If you don’t believe commercial is that much of total revenues then remember this graphic which shows a huge, almost entirely commerical, Downtown impact all by itself.  So if residential values went up on average 46% and commercial went up by 71%, it means the overall average is more like 56%. The article says it is 57.89% (there are some significant digits for you).  Now go back to the distribution I put up there yesterday.  If millage is adjusted based on that calculation even roughly, then it is more lopsided and  OVER 2/3rds of all city residents would see their property tax revenues go down resulting from the new assessment, yet people are univerally livid.    At the same time barely any public anger over the county’s recent 20% property tax rate increase. I am missing something.

Further it means it is now far less than 5 percent who would expect to see taxes go up by 100 percent or more.  More like 3.5 percent now.   I really need to see if I can calculate a total estimated savings in $$ from all the homes that lose out if there really is going to be no assesment. Must be some dollar amount to all of that,

For school districts or other municipalities worried about a month delay in getting their property tax revenues through the door…  realize that short term municipal paper is yielding close to 1% or less (at an annual rate) interest these days. What does that work out to for a month or so?   So all I have to say is: Tax Anticipation Bond. Done all the time in lots of places quite routinely for precisely the same reason as may be needed here (without the soap opera of course).  What is routinely dealt with as a matter of routine elsewhere is some inconceivable trauma for us.  Can be said for more than assessments of course as well.

and yes.. there will always be assessment mysteries.  The Casino which supposedly had well over $400 million in construction costs, something like an $800 million total cost, is still appealing it’s $199 million dollar assessment.. an assessment which I think was set before they got their approval for table games which would impact an income based assessment.

The old RET and older Alcoa building is upset over an assessment increase from 10 to 30 million.  This is for an entire skyscraper.  Scrap aluminum is pretty expensive these days.  Might be 3-4 million in aluminum value alone in there, let alone the value of the XPlorion.  That cost a million to install I bet at one point. Whether it counts in the cost of the building these days would not even be a rhetorical question.

On this notion that canceling (I am struggling with the correct verb to describe what actually happened yesterday) a new property assessment will help property values in the county..  what will be the impact of the years of uncertaintly and confusion this is going to have on property values in the future?  High taxes are one thing, but not really knowing what taxes will be is another thing altogether.  Sometimes the devil you know…

Crystal ball.   Barring some quick resolution. If no reassessment I suspect there will be strong patterns in the new (’old new’?, or ‘new, now old’?) assessment numbers that correlate with race in some way which will prompt  some sort of filing in Federal court on this and I suspect the Federal bench in town are collectively Wettick supporters.  Just a guess.

and just from the archives. October 19, 2009: “We’re here because of the Supreme Court’s mandate to me,” Indeed ……….Ditto

More Pittsburgh real estate trends

Lest we forget some of the bigger stories in all of this. The other day I played with the housing data  for the trends across metro areas since 1991.  I have renormalized the data to show changes over just the last 5 years.  Just fun with numbers, but this is what you get:

So we can quibble over what the Pittsburgh time series means in itself, but clearly some awful awful times in a lot of, if not most, other real estate markets over what is now a half of a decade. So we are not merely talking about a bad month, quarter or even year. Some markets out there are stabilizing, but not all are and by most opining I see projects more pain elsewhere. All while

Anecdotal I know it is.. but if this is not a sign of something weird in local real estate markets I don’t know what is.  It is almost done, but there is not one, but THREE  new townhomes being squeezed onto this triangle plot of land (below) in Lawrenceville that I thought for sure was undevelopable.It really is kind of remarkable.

View Larger Map

I honestly had imagined a drill of some kind going in on that site. A bit too small I know.  Just so Wiz does not feel forgotten: Look at those parcels. Lawrenceville was one of the first parts of the city where the Landmen started to buy up leasing rights for Marcellus shale production within the city of Pittsburgh. By all acounts they have given up for now on city development, but why they started with the densist part of the city is just a bit confusing.