3 Investors Turned an Abandoned High School Into 31 Luxury Apartments
Jesse Wig, Adam Colucci, and Dan Spanovich are the investors behind the project.
Adam Colucci
The project was on hold for about a year after the trio purchased the school, as they couldn't agree on what to do with the building.
"We were talking to some larger tenants — a gymnastic crew, a basketball crew, renting out rooms for a recording studio," Colucci said.
They eventually decided to turn the 55,000-square-foot building near Pittsburgh into a residential complex.
It took them about 18 months to complete and cost around $3.3 million, according to Wig. They put $1.3 million in themselves and also secured a $2 million mortgage, he said.
"The beauty of this building was worth what we paid," Colucci said.
Source: Business Insider
