Newbury retail space filling up
All tenants in the Gateway Shops at Newbury Market are on track to open in September or October.
Eric Newhouse, project manager for Newbury Development Associates LP, gave a general update at the South Fayette Commissioners meeting Aug. 10. He said AT&T is the next tenant to open its store.
Discussions continue with multiple retail companies. Newhouse said one anchor tenant signed a letter of intent to come to Newbury and another anchor tenant is considering a letter of intent.
“Both would be significant breakthroughs,” Newhouse said. “I can't indicate specifics but they would have a ripple effect.”
• South Fayette officials' decision to rebid the project to develop three multi-purpose fields at the former Boys Home property on Seminary Avenue turned out to be the right choice.
Initial bids included developing three multipurpose fields, parking and fencing. The lowest bid was just under $2.1 million. Township officials decided to reject the bids and make the fence work a separate bid.
The new bids resulted in a $400,000 savings. R&B Contracting was the low bidder at $1.56 million for the field work and paving of the pedestrian walkways and aggregate paving of the overflow parking lot. Allegheny Fence Co. bid $136,280 for fencing at the property. Alternate bids for paving two parking lots and the roadway were not added to the project.
Township manager Ryan Eggleston said paving of two parking lots and the roadway could be part of the 2017 paving program.
• Commissioners are moving forward with plans to refinance the township's $6.5 million general obligation bonds of 2009. Commissioners opted to refinance using a back-end savings plan in which payments would be completed four years prior to the 2034 closing. The savings would be $2.2 million. The other option to consider would be saving $1.4 million up front.
Commissioners authorized Alisha Reesh of Janney, Montgomery, Scott LLC to move forward with the refinancing.
Jim Spezialetti is a Tribune-Review staff writer.