• In its Market Risk Index covering 381 metropolitan areas in the fourth quarter of 2008, PMI Mortgage Insurance Co. says the Pittsburgh region has a "minimal" risk of a decrease in property values.
• Housing in the region is "fairly valued," according to a report by IHS Global Insight. The average price was $118,100 in the fourth quarter of 2008, based on a statistical model owned by The PNC Financial Services Group Inc.
• The Pittsburgh Urgan Redevelopment Authority approved $3.27 million for development of 31 single-family homes in the Manchester area. The combination of public and private financing, including grants and loans, will enable Manchester Citizens Corp. and Fourth Rivers Development LLC to begin construction of five units on a 4.3 acre former brownfield site at 1207 Columbus. Ave. The three- and four-bedroom houses will be priced from $179,000 to $255,000.
• The Museum Park Hotel LP, developer of a seven-story, 150-room hotel at 4655 Forbes Ave., Oakland, will seek approval of a variance from the Pittsburgh Zoning Board of Adjustment on Thursday. Also seeking board approval is Harvey F. Light, owner of the former Roth Rug building at 4035 Liberty Ave., Bloomfield, who wants to renovate it into eight apartments and office space.
• Two new businesses have opened in the Mt. Washington neighborhood: Schwarz Woodworks and Billiards on Merrimac Street, and Becky's One Stop Shop, a beauty salon, on Southern Avenue, according to Chris Beichner, executive director, Mt. Washington Community Development Corp.
• Joseph B. Koval Real Estate Co. merged with Coldwell Banker Tri County Realty's Washington office, which moved to Koval's location, 665 W. Chestnut St., Washington.
• BPU Investment Management Inc. is moving into larger quarters in the Court Plaza Tower, Uniontown. Three full-time advisers will staff the site, President Robert Unkovic said. The company's headquarters is in Pittsburgh; it also has a Greensburg office.
• Lami Grubb Architects LP, Pittsburgh, was ranked 12th in total projects by Commercial Construction magazine. The firm said it worked on more than 500 commercial projects in 2008.
• Greenbriar Treatment Center of Washington is building a 6,000-square-foot halfway house for men in North Strabane, Washington County. The facility, Lighthouse for Men, is scheduled to open in September. Greenbriar operates a halfway house for women in Washington and six centers in the region.
• LAV Associates LP, headed by Richard Voelker, purchased a parking garage and lot at 5216 Liberty Ave., Bloomfield, from Doc Legacy LP for $1.65 million, according to a deed filed in Allegheny County.
• Northland Properties V11 has purchased a light manufacturing building on three acres at 2362 Rochester Rd., Franklin Park, from Mecco Corp. for $530,000.
• A three-story office and apartment building at 3615 Butler St., Lawrenceville, has been sold for $124,000 by James M. Foley and associates to A2 Holdings LLC.
— Sam Spatter
