About Q Development

Q Development Office

828 West North Avenue

Pittsburgh, Pennsylvania  15233

Q Development is a “double-bottom line” real estate developer that specializes in historic and architecturally significant properties in and around Pittsburgh, Pennsylvania.

Q focuses on Pittsburgh neighborhoods that may not yet have fully participated in Pittsburgh’s still nascent revitalization. Q supports and advances targeted neighborhoods through transformational investments that build on community initiatives and catalyze additional investment and investors. Q adopts a “buy, restore and hold” perspective, and often makes multiple investments in each neighborhood. Q’s goal is for each distinct investment to support the others, as well as the community at large.

While Q is flexible and open to many opportunities, it commonly seeks underutilized or vacant historic properties for investment, especially those that are well suited to residential reuse. Q strives to work with local stakeholders and established community organizations, and to invest in a manner that is aligned with the established strategic vision for the neighborhood. Q looks for and invests in collaborations with other interested parties, including schools, parks, gardens, and nonprofit partners.

Q focuses on making investments that facilitate economic revitalization and promote neighborhood vitality while delivering meaningful long-term improvements to the quality of life for all stakeholders. Q seeks and supports strategies that makes communities more livable for all persons, regardless of age, income, ethnicity, background, or other diverse characteristics. Q believes that neighborhoods gain strength through a cornucopia of diversity.


Matthew Quigley, Managing Principal

Email: Matt[@]Qdevelopment.com


Mr. Quigley is the driving force behind the vision and formation of Q. He currently resides outside of New York City. Mr. Quigley’s family originated from the Pittsburgh area and he maintains a strong bond with the city. He makes frequent trips to Pittsburgh in order to oversee the activities of Q.

Mr. Quigley retired from The Blackstone Group after working for 34 years on Wall Street, with the final 10+ years in the investment management business. He was an original partner in the founding of GSO Capital, one of the largest credit-focused alternative managers in the world. GSO was acquired by The Blackstone Group in 2008 after which he continued to serve as GSO’s Chief Operating Officer. Mr. Quigley serves on the Boards of Camp Dudley YMCA, The Near East Foundation and the Cyrus M. Quigley Foundation. Mr. Quigley holds a B.A. with honors from Brown University and an M.B.A. in Finance from NYU’s Stern School of Business.

Rick Belloli, Principal

Email: Rick[@]Qdevelopment.com


Mr. Belloli is largely responsible for shaping Q’s community-based investment strategy. His two decades of experience in real estate and community development has been key to positioning Q to make impactful investments at the neighborhood level. Mr. Belloli’s experience in real estate includes the financing, development, and/or management of commercial, mixed-use, and residential properties.

Mr. Belloli has over 20 years of experience in community and economic development in Pittsburgh and Detroit. In 2011, he co-founded Civic Square LLC with his wife, Lisa Belloli to provide comprehensive community revitalization guidance to investors, communities and nonprofit organizations engaged in economic development activities. Prior to launching Civic Square, he was Executive Director of South Side Local Development Company, a post he held for eight years.  Mr. Belloli has a B.A. from the University of Michigan and two Masters Degrees from Wayne State University. He also attended the Executive Education Program for Nonprofit Leadership at Stanford University.

Douglas Duerr, Principal

Email: Doug[@]Qdevelopment.com


Mr. Duerr has an extensive background in supporting the business and operational needs of investment managers and institutional investors. He is responsible for overseeing Q Development’s daily operations as well as managing its public and private partner and vendor relationships.

Before joining Q, Mr. Duerr was a Managing Director in the Asset Servicing Division of BNY Mellon. He has 30 years of experience in supporting large global institutional firms from hedge funds to public pension plans. Prior to leaving BNY Mellon, Mr.  Duerr was part of the senior management team responsible for supporting emerging product and client strategies for the Asset Servicing Americas Division. Mr. Duerr is a lifelong  resident of Pittsburgh and has a B.A. from Indiana University of Pennsylvania and an M.B.A. from Duquesne University.