Developer aims to revive Hyde Park Plaza in Allegheny Township
Big changes are coming to the former Big Kmart and the plaza it occupies in Allegheny Township.
A new owner is redeveloping the once-busy plaza at 451 Hyde Park Road.
Hyde Park Plaza was purchased for $3.8 million Sept. 16 by Pittsburgh-based developer Jeff Paul of Fox Chapel.
The long-shuttered store closed in 2019.
Paul owns Paul Property Management and brings more than 20 years of experience as a developer to the plaza refurbishing project.
“We really try and focus on purchasing value-add centers like this. We look for buildings that have really good ‘bones,’ ” Paul said.
The Kmart building is more than 85,000 square feet and served as the anchor store in the plaza, which occupies about 8 acres in the mostly rural township.
The plaza has 16 storefronts, is zoned C-1 and offers 564 parking spaces.
Planned upgrades to the plaza include repaving and sealing the parking lot, new concrete for the sidewalks, new LED canopy lights, installing LED parking lot lights, a new roof, new planters and vegetation, and new sewage, water and gas lines.
Permits will be submitted to the township within two weeks, and construction is expected to be tenant ready by May or June, Paul said.
The building was constructed in 1981.
The Kmart space will be split into four separate suites.
“We will demolish the whole front of the building and have a completely new facade,” Paul said.
Two new tenants, East Suburban Sports Medicine Center and Pizza Hut, are scheduled to open next month.
Current tenants include Pink Nails, Family Dollar, Label Shopper, Anytime Fitness, Howard Hanna and McDonald’s.
The existing recreational vehicles occupying the parking lot on the Kmart side will be relocated to Myer’s RV Superstore in Apollo.
Allegheny Township Supervisor James Morabito began contacting potential buyers about six months ago, originally reaching out to J.J. Gumberg Co., the former leasing company for the plaza.
“I spoke with them concerning potential occupancy of those storefronts. Then a few months ago, I was informed the company had a buyer for the plaza,” Morabito said.
Morabito’s primary goal as supervisor is to bring new businesses into the township.
“This is going to be a huge step forward for the community. One of my main campaign promises was to start filling these empty plazas with new businesses that we can all utilize,” Morabito said. “I’m excited to see this goal come to fruition.”
Paul said Hyde Park Plaza checked a lot of boxes for what he typically looks for when purchasing a plaza.
“We look within a two-hour radius of Pittsburgh, and this (plaza) is right up our alley,” Paul said. “This building has a great roof on it, the structure’s great, and it has a great tenant base.”
Paul said he would like to see a new grocery store, occupying the far end of the plaza, happen.
“We have spoken to two grocery stores, we can’t say who, but they are doing an initial analysis to see if the neighborhood and demographics work,” Paul said.
Paul said a previous noncompete clause from Giant Eagle in Allegheny Township has expired.
Morabito said he will help Paul with whatever needs to be done from a supervisory role to fill the plaza with new tenants.
“I will continue to keep my promises to the residents in stimulating the future growth of this township,” Morabito said.
Paul focuses on maintaining high occupancy rates at his plazas.
“Almost all of my shopping plazas are at a 95% occupancy rate,” he said.
Paul’s last large-scale reposition project at Curry Hollow Shopping Center in Pleasant Hills resulted in the center going from a 37% occupancy rate to 100%.
“I can’t thank Mr. Paul enough for seeing the potential in Allegheny Township,” Morabito said. “His plan is to fill the plaza with thriving businesses that our community needed for so long. I have faith that Mr. Paul will be very aggressive in filling the storefronts.”
Paul grew up in Green Tree and graduated from Keystone Oaks High School in 1998.
He owns four additional shopping plazas in Scott Township, Mt. Lebanon, Delmont and Pleasant Hills.
“We’re very, very excited to create a better place to shop for the community and be good community stewards. This was a busy plaza at one time,” Paul said.
Joyce Hanz is a native of Charleston, S.C. and is a features reporter covering the Pittsburgh region. She majored in media arts and graduated from the University of South Carolina. She can be reached at jhanz@triblive.com
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