The Pittsburgh City Council has approved zoning variances for Buncher Co.’s estimated $400 million mixed-use development in the Strip District.
Called Riverfront Landing, the proposed development would stretch 55 acres from Veterans Bridge to 21st Street, between Smallman Street and the Allegheny River. Pending further approvals, the project could bring 750 housing units with more than 1,000 parking spots, 800,000 square feet of office space, about 200,000 square feet of retail and a 140-room hotel. Plans also call for a walking trail, a park, an extension of 17th Street, and the partial demolition and renovation of the historic Produce Terminal.
The Pittsburgh Tribune-Review reports that the council has given preliminary approval to legislation that would allow the developer to exceed building density and height limitations, as well as other zoning requirements. A final vote is expected this week.
In other news, the Regional Industrial Development Corporation of Southwestern Pennsylvania (RIDC) has sold a 10,200 square feet building at 260 Alpha Drive in RIDC Park in O’Hara Township. Practical Administrative Solutions, LP has purchased the 1.41-acre property for $1,060,000.
The facility will be leased to Grane Hospice Care and Grane Home Health Care, the fifth-largest elder care provider in the Pittsburgh region, according to the Pittsburgh Business Times 2012 Book of Lists.
“We continue to grow and develop new markets within Pennsylvania, and we need additional resources to support our current and planned expansion plans,” Grance Hospice Care COO William Gallagher said in a prepared statement.
RIDC purchased the land in O’Hara Township in 1963 with the intent of developing one of the first master-planned industrial parks in the country. The 700-acre RIDC Park is now a prime real estate location in the North Allegheny Pittsburgh submarket. Earlier this year, the corporation sold the 97,500-square-foot building at 610 Alpha Drive to Tsudis Chocolate Co. for $3.9 million.
Photo credits: www.dlastorino.com