State giving $30 million for Downtown improvements

Wednesday, November 30, 2005

Gov. Ed Rendell announced today the state will contribute $30 million to a series of improvements to the Fifth-Forbes business district in Downtown Pittsburgh.

Mr. Rendell said the state has reached an agreement with city officials and developers on the amount of combined state help for several projects. The amount of money to be devoted to each project hasn't been determined yet and will be contingent on signing an anchor and moving forward on the projects, he said.

Three projects are under development in the city's dilapidated retail corridor:

A mixture of ground-level retail and upper-floor residential buildings in the lower part of Fifth and Forbes avenues near Market Street proposed by a group of Downtown businesses known as the Pittsburgh Task Force and developer Madison Marquette.

A retail, residential and office complex proposed by PNC Financial Services Group for the block between Wood and Market streets.

Reuse of the Lazarus department store building at Fifth and Wood, owned by the Regional Industrial Development Corp.

Mr. Rendell said about $1 million of the funding would be used for street improvements that would benefit all three projects.

More details in tomorrow's Pittsburgh Post-Gazette.

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