The situation of Point Park University students being housed in a Downtown hotel because of a shortage of dorm rooms on campus eventually may be a thing of the past.

The university announced this week that it had signed a letter of intent to purchase the former YWCA building near the campus at 305 Wood St. It plans to use the long-vacant building for more student housing, a student union and street-level spaces that are designed to bring new life to the area.

The new building won’t open right away. Lou Corsaro, the university’s assistant vice president of public relations, said the development is still in the early stages. Once the purchase is finalized, there would be a year of planning and input and a couple of more years to complete the construction.

“So you’re probably looking at th

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