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Monday, March 13, 2006

Fifth / Forbes Development Could Include Movie Theater and Grocery Store


Giant Eagle has confirmed that it is in talks with Millcraft Industries to locate a grocery store in the former Lazarus Building downtown.
The presence of a grocery store in the golden triangle has long been seen as a requirement for a successful downtown residential district. In recent months, developers have announced several residential projects in the Central Business District, including Millcraft industries.
Millcraft is planning on renovating the 265,000-square-foot Lazarus space into a mix of retail, office and 47 upscale residential units.
In addition, Millcraft has had discussions about locating a movie theater in the Fifth/Forbes district.
These amenities are exactly what is needed to attract residents downtown. Developers have seen substantial interest in their condo projects from "Urban Pioneers" - people who do not require all of the "comforts" of suburban living. However, I believe that there could be a large market for downtown housing units if some of these businesses locate in the district.

Urban residents have waited a long time for a vibrant downtown. It seems that our patience is beginning to pay off.

Read More at The Pittsburgh Business Times

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