TribLIVE

| Home


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Developers for Pittsburgh's Saks property identified by URA

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

Wednesday, Oct. 10, 2012, 6:12 p.m.
 

Pittsburgh's Urban Redevelopment Authority is expected to vote on Thursday to start negotiations with a pair of developers who would transform the former Saks Fifth Avenue store, Downtown, into a parking garage with retail and residential space, an official said.

The development partners are Downtown-based McKnight Realty Partners and Millcraft Investments in Washington County, said Robert Rubinstein, URA's acting executive director.

Pittsburgh Parking Authority also would be involved in the talks, which could last up to 150 days if a 60-day extension is approved, Rubinstein said. If successful, construction could begin 12 to 18 months after talks end, he said.

“This agreement gives us all the flexibility to try to put what are some great conceptual ideas and flesh them out in terms of costs, structure of ownership and rules of ownership,” Rubinstein said.

Officials have discussed building a 400- to 600-space parking garage at the site, with retail space at ground level. Rubinstein said the proposed development also includes a 101-unit residential development above the retail and parking space.

It's unknown how many levels of parking would be located below ground and how many would be above.

Rubinstein said URA board member Bill Rudolph will not participate in the board's discussion of the proposed project or vote on it, because he is a principal in McKnight Realty Partners.

Tom Fontaine is a staff writer for Trib Total Media. He can be reached at 412-320-7847. or tfontaine@tribweb.com.

Subscribe today! Click here for our subscription offers.

 

 

 


Show commenting policy

Most-Read Stories

  1. Rossi: Penguins’ best bet is on Martin
  2. Pitt AD Barnes has enjoyed varied career in college sports
  3. Burnett’s stellar start paves way for Pirates’ victory over Diamondbacks
  4. Spirit Airlines lifts fortunes of Arnold Palmer Regional Airport
  5. From injuries to front office, Penguins’ season didn’t lack drama
  6. Penguins president: General manager, coach won’t be fired
  7. Elites, media & character
  8. Young defensemen make case for future with Penguins
  9. High risk, reward with 1st-round quarterbacks in NFL Draft
  10. More than 2,200 confirmed dead in Nepal earthquake
  11. Man fatally shot in McKees Rocks identified