Developer seeks to clear way for $22.8M office building on North Shore
The Sports & Exhibition Authority of Pittsburgh and Allegheny County on Thursday are set to consider a request from Continental Real Estate Cos. for easements that the developer says would clear the way for a $22.8 million office building along North Shore Drive.
Columbus, Ohio-based Continental is planning a seven-story building next to the Fort Duquesne Bridge and wants easements for foundations, overhangs and underground utilities in the SEA-owned North Shore Riverfront Park, according to the authority's board meeting agenda.
Board members also are scheduled to vote on a construction license agreement for Continental.
In June, the Pittsburgh Stadium Authority approved the sale of a parking lot and adjacent property next to the bridge to Continental for $2.2 million. Construction is expected to begin this year. It would be Continental's fifth North Shore office building.
German software company SAP will occupy the top five floors, according to the Stadium Authority. Continental is proposing additional office space on the second floor and ground-floor restaurants and shops.
Property under the bridge will be used as a service area for the building.
The stadium authority agreed to pay Alco Parking, which leases the lot, $1.8 million as a buyout for the lost parking spaces.
The authority estimated the building will house 1,000 full-time employees and generate $591,000 in annual real estate taxes.
North Shore real estate around Heinz Field and PNC Park — once dominated by parking lots — has changed dramatically in recent years.
The Stadium Authority this year finished construction of a $24 million parking garage next to Heinz Field.
Carnegie Science Center is in the midst of a $34 million expansion, including an exhibition hall, conference space, terrace and improvements to the nearby riverfront trail.
Rivers Casino is building a 214-room hotel between the casino and science center.