PITTSBURGH, PA - Mayor William Peduto announced today that the Urban Redevelopment Authority has reached an agreement with the Buncher Co. that will provide an opportunity to evaluate alternative development strategies to save and re-use the historic produce terminal building in the Strip District.
Buncher has formally agreed to a six month standstill from their option under the previous mayoral administration to purchase the Pennsylvania Fruit Auction and Sales Building from the URA. The Mayor has empowered the URA to utilize this period to identify alternative development strategies that preserve the Terminal Building, address Buncher’s concerns regarding access to their riverfront development, and allow for the Terminal Building to serve as a catalyst to spur broader redevelopment efforts for the entire Strip and its neighboring communities.
“We are working to implement a grand vision for the Strip District that goes from the Convention Center to St. Stanislaus,” the Mayor said. “With our collaborators we’ll put forth a vision that builds on the history of Pittsburgh and doesn’t tear it down.”
The Buncher Co. has a pending option to buy the Terminal from the URA for $1.8 million as part of plans to redevelop largely vacant land between the Terminal Building and the Allegheny River. Kevin Acklin, URA board chairman and chief of staff to the Mayor, has engaged the firm Fourth Economy to evaluate development with the foresight to bring the iconic structure back to life.
Fourth Economy will also lead efforts for community input into the redevelopment process.
Buncher company executives have been meeting regularly with Mr. Acklin and the URA and signaled in January that they would work with the Peduto administration, but today’s agreement finalizes that tentative pact.
Mayor Peduto thanked the Buncher executives for the productive talks and plans to work further with Buncher on world-class development plans that build on the city’s history, while building new foundations for riverfront access and connections among Downtown, the Strip District and neighborhoods east.
Friday, February 28, 2014
City of Pittsburgh
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