Larger text
Smaller text
Developer to buy Shoppes at Northway, vacant school for possible commercial project
Daily Photo Galleries
By Sam Spatter
Published: Friday, November 30, 2012, 12:01 a.m.
Updated: Tuesday, February 19, 2013
An Ohio developer is purchasing Shoppes at Northway in Ross and the vacant Northway Elementary School next door and expects to reveal plans for the two properties early next year.
Levey & Co. of Akron, Ohio, expects to complete the purchase of Shoppes at Northway by this weekend.
On Wednesday, Levey filed an application with the township to rezone the 6-acre vacant school next door from residential to commercial.
Levey has a sales agreement to purchase the school from the North Hills School District for $2.46 million. The school board approved the purchase in June.
“We will eventually demolish the school building and integrate that site into the total master plan of development,” said Kevin Fallon, Levey's vice president development.
“We are kicking around a lot of possible development ideas for the mall and the school site, but no master plan has yet been developed,” he said.
He confirmed that some thought is being given to including a hotel there.
A hearing on the rezoning will be held on Dec. 20 by the township, said Dennis Schack, building inspector.
The mall's tenants at 8000 McKnight Road include Dick's Sporting Goods, Marshalls, PetSmart, Shoe Carnival, Aldi, Mamma Lucia restaurant, a T-shirt shop Rock America, and Northway Shoes & Repair.
“At a public meeting with the community on Dec. 5 at 7 p.m., we will discuss the school but will not discuss any plans for the Shoppes,” Fallon said.
Shoppes at Northway is owned by Jefferson-Pilot Investments Inc. of Greensboro, N.C., which acquired the complex at a sheriff's sale in May for $1,597, according to Allegheny County records.
The previous owner was Northway Group LP, which purchased the property in 2000 for $24.2 million. The ownership included as a partner McKinney Equity Management Corp., according to state records.
The change in ownership was a result of a foreclosure lawsuit filed by Jefferson-Pilot against Northway Group for failing to pay $23.7 million owed to Lincoln National Life Insurance Co., the main lender on the property.
Compass Advisory Partners LLC was selected by Allegheny County Common Pleas Judge Christine A. Ward as receiver for Shoppes.
The shopping center opened as a strip mall in 1953. In 1962, an enclosed portion was added above the existing strip center, becoming the first indoor mall in Western Pennsylvania.
The original mall included an aviary, which was removed in 1994. In 1995, the mall was renovated by McNeil Real Estate of Dallas, which owned the center at that time.
Sam Spatter is a staff writer for Trib Total Media. He can be reached at 412-320-7843 or sspatter@tribweb.com.
Most Popular Business Headlines
- Web giants likely to battle for music fans’ attention
- As yen falls, so does cost of products from Japan
- Automated teller machine fees up 20 percent in 5 years
- Pa. jobless rate declines as fewer look for work
- Judge rules UPMC’s email policy violated labor law
- Graduates hope for pomp and jobs
- Federal regulators say Consol can reopen fire-stricken mine
- PPG Corning bankruptcy plan receives preliminary approval
- Pittsburgh lawmaker pitches bill to raise state’s film tax credit cap to $100M
- Gold loses status as ‘cure for everything’
- Retail sales up on lower gas prices
You must be signed in to add comments
To comment, click the Sign in or sign up at the very top of this page.
Subscribe today! Click here for our subscription offers.
