East Liberty Transit Center Project to Receive $15M Grant from Federal Government
- Jun 29, 2012
The U.S. Department of Transportation has granted the Pittsburgh Urban Redevelopment Authority $15 million for the development of the East Liberty Transit Center, the next phase of the East Side project.
The multi-modal transit center is expected to serve nearly 1,000 daily bus trips. A new pedestrian bridge and walkway will be built, along with new parking for cars and bikes.
The East Side transportation-oriented development project is intended to upgrade the links between East Liberty and Shadyside. The Port Authority of Allegheny County and the Mosites Co. will also take part in the infrastructure investment that could total $34 million.
Steve Mosites, principal of Mosites Co. which developed East Side phases I and II, reportedly said that the new funding would activate his company’s next phases of development. Mosites considers different options on Penn and Highland avenues, possibly a mix of a hotel, retail, office and residential space. In the earlier phases of the Eastside plan, the company helped bring Whole Foods and Target to East Liberty.
The city has obtained preliminary environmental and historic review approvals for the transit center and hopes to begin development as soon as possible.
In regional news, PECO-ARC Institutional Joint Venture I acquired Northtowne Square – a Giant Eagle-anchored shopping center in Gibsonia – for $10.6 million. According to the Business Courier of Cincinnati, the 113,372-square-foot shopping center situated 15 miles north of Pittsburgh is 100 percent leased. The 86,500-square-foot Giant Eagle grocery store has a lease through January 2024. It is the number one grocer by market share in the Pittsburgh area.
PECO-ARC Institutional is a joint venture between Phillips Edison – ARC Shopping Center REIT Inc. and clients of the CBRE Global Multi Manager group. Phillips Edison – ARC is a public nontraded REIT that owns and manages 14 grocery-anchored shopping centers totaling more than 1.2 million square feet.
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