Starpointe Business Park Breaks Ground for Second Phase
- Nov 04, 2011
Fourth River Development LLC has begun the second phase of construction on the Starpointe Business Park site entailing the development of a 100-acre portion of the land, the Pittsburgh Business Times reports.
Starpointe representatives hope to offer space for flex and light industrial users in the Pittsburgh metropolitan area. The new phase involves the completion of three buildings, measuring 225,000 square feet, 278,750 square feet and 570,000 square feet.
Mark Schneider, managing partner of Fourth River, said that the size of the buildings is considerably larger than that of buildings constructed in the first phase. This adjustment was made in order to be able to accommodate prospects with larger space necessities.
Schneider, who is also a development partner and consultant on the project, added that future sites will be for lease and sale, and that Fourth River Development is expecting prospective tenants by the end of the year.
Fourth River has also received $250,000 in state funding and a grant from the Benedum Foundation. Due to the interest for natural gas in the area and the site’s proximity to the 18/22 corridor close to the airport, the Starpointe Business Park is a good prospect for companies that explore the Utica Shale and the Marcellus deposits.
In other news, projects in Pittsburgh, Waynesburg and Greensburg have received a total of $2.9 million in grants, the Pittsburgh Business Times reports. The East Liberty Place South, which entails the construction of a four-story building that encompasses 60 residential units, has received a $140,780 grant. Upon completion, the project will cost about $14.8 million. The Waynesburg’s Greene County Transitional Housing has also received a $250,000 grant, with a total estimated cost upon completion of $996,772.