Steelers, Pirates May Be Fined Due To Construction Delay
The Pittsburgh-Allegheny County Stadium Authority "might punish the Pirates and Steelers because their developer isn't building fast enough on the North Shore," according to Jeremy Boren of the Pittsburgh TRIBUNE-REVIEW. Pittsburgh-Allegheny County Sports & Exhibition Authority Exec Dir Mary Conturo said that developer Continental Real Estate is "nearly a year behind in meeting development deadlines under a 2003 contract between the Stadium Authority and the teams." Stadium Authority Chair Debbie Lestitian said that her group is "exploring whether it could begin charging the teams higher prices for the land and to impose fines if they don't meet future deadlines." So far, Continental has developed three sections of the North Shore "with construction of the $30[M] Equitable Resources building and the $40[M] Del Monte building." The company also is "trying to build a hotel and entertainment complex." Continental President of Retail Development Frank Kass: "We're doing it as fast as it can be done, based on the market." Kass added that Continental is "ready to develop the $27.5[M], 178-room Hyatt Hotel and to pay an additional $1[M] to buy land" at the corner of Art Rooney Ave. and North Shore Dr., "where the Steelers want the entertainment complex built." Kass: "We had this hotel deal ready to go for six months. Are we behind? Maybe" (PITTSBURGH TRIBUNE-REVIEW, 3/20).
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