RIDC sells Duquesne site to railroad for new transloading facility

A long-time industrial park in the Mon Valley is poised to get a new intermodal facility.

According to an announcement, the Regional Industrial Development Corporation of Southwestern Pennsylvania sold a 13-acre parcel at the City Center of Duquesne to Union Railroad Company LLC, which plans to develop the land into a new facility that will combine rail-to-truck and truck-to-rail transloading capabilities.



RIDC sold the land for $400,000...Read More

Prospect for new convention center hotel revives with Pittsburgh's rebounding travel and tourism economy

The prospect for the City of Pittsburgh adding a new full-service hotel on the open lots along 10th Street as a companion to the David L. Lawrence Convention Center come and go every year like spring hopes for a winning season by the Pittsburgh Pirates.

While it has now been more than 20 years since the convention center opened, there's renewed interest in resuscitating a hotel plan, as well as a recent inquiry from a hotelier about the opportunity.



"Right now, there’s a lot of conversation on whether the city needs a convention center hotel," said Jerad Bachar, president and CEO of VisitPittsburgh, at the organization's annual meeting on Wednesday...Read More

EQT Plaza latest downtown building to win a real estate assessment challenge

The Allegheny County Board of Property Assessment Appeals and Review has voted to reduce the assessment value of EQT Plaza from $79 million to a little more than $31.1 million, a more than $47.8 million reduction that represents about a 60% decrease.



The decision was on behalf of owner Liberty Ave. Holdings LLC, an affiliate of North Carolina-based Highwoods Properties (NYSE: HIW), the national Real Estate Investment Trust that also owns PPG Place and announced in 2022 that it plans to divest its Pittsburgh holdings in order to pursue opportunities in Dallas. The company has since said it is in no rush to sell off its properties here given the challenges in selling office properties everywhere right now...Read More

Family Dollar closes Lawrenceville location amid nationwide plan to close 1,000 stores

The deal-signaling red letters have been dislodged out of the outline for the Family Dollar store's sign at 3300 Penn Ave., revealing the final closure of what the company refers to as store 11119 in Lawrenceville.



The store's recent closing after a going-out-of-business sale is the one conspicuous closing so far for a retail chain that just recently announced it plans to close 600 stores throughout the country in just the first half of fiscal 2024 as part of a larger goal to close as many as 1,000 stores over the next several years, 30 of them expected to be Dollar Tree stores...Read More

Downtown Pittsburgh properties awarded another $55.1 million in 2023 assessment cuts

Another round of property assessment cuts will bring more distress to the crumbling Downtown tax base.

The latest wave approved Tuesday by the Allegheny County Board of Property Assessment Appeals and Review for the 2023 tax year involved four Golden Triangle properties and $55.1 million in reductions.



Combined with big markdowns awarded to 11 other prominent buildings in the past few months, overall cuts for 2023 alone have climbed to $409.9 million and could approach a half-billion dollars before all is said and done...Read More