Castle Shannon project financing OKd

| Friday, Feb. 22, 2013, 4:33 p.m.

The final financing piece for the $35.8 million Shannon Transit Village project, to be built at the Castle Shannon light-rail station, has been approved.

The Redevelopment Authority of Allegheny County on Friday authorized its staff to obtain $5 million in tax increment financing for the project, which will have a 128-unit apartment building and parking deck.

All three taxing bodies — Castle Shannon, Keystone Oaks school district and Allegheny County — have approved the financing, which ends a more than 10-year effort to get the project started.

State Sen. Wayne Fontana, D-Brookline, said the development could lead to similar projects at Dormont and Beechview T stations.

JRA Development of the Strip District is the developer of the 6.6-acre site, located along Castle Shannon Boulevard.

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