URA approves plan for Saks property
The Urban Redevelopment Authority approved a plan Thursday to build a 600-space parking garage with street-level retail space on the land where the former Saks department store stands.
The first phase involves demolition of the Saks building at the corner of Smithfield Street and Oliver Avenue and building 25,000 square feet of retail space at street level with the garage on top of it.
Demolition will begin in January, with the garage and retail space completed in 2015, said Brian Walker, CFO of Millcraft Industries Inc., one of two companies partnering with the URA for the $35.3 million project.
“We're trying to create a really awesome mix of tenants,” Walker said. “We're definitely excited by the project. It makes sense for us.”
Walker said they had a letter of intent for one tenant who plans to use 10,000 square feet of the space, but he declined to identify the business.
The structure will be fortified to allow for additional stories to be added. Walker said that could include residential or commercial space. The current plans call for the structure to reach about six stories, nearly the same height as nearby Piatt Place.
URA spokeswoman Gigi Saladna said the resolution passed unanimously.
Millcraft is partnering with McKnight Realty Partners and the URA on the project. The URA will own a portion of the project because the agency is contributing the land. The URA acquired the property for $4 million after Saks closed its store there in March 2012.
The authority will seek to dedicate 75 percent of the parking taxes paid in the garage for 20 years to help pay for the project. That is expected to generate about $6 million, Walker said.
Bobby Kerlik is a staff writer for Trib Total Media.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Pirates inquire about Red Sox LHP Lester
- Starkey: Would one big move kill Pirates’ future?
- Steelers offensive linemen looking to build on strong 2013 finish
- 3 injured in crash near zoo entrance in Highland Park
- GNC revenue, sales drop, but vitamin retailer says plan in place
- YouTube campaign by Latrobe 4-year-old aids Alzheimer’s Association
- Penn Township man seeking gun permit accused of bringing heroin to courthouse
- 3 men to stand trial over runaway Latrobe foster children
- Giant Eagle provides assistance to fight proposed Wal-Mart in McCandless
- Heyl: This dress is a steal
- Attorney had broad range of private, public clients