Amended Deal Gives Penguins Until '25 To Redevelop Former Civic Arena Site
A deal that gives the Penguins more time to redevelop the former Civic Arena site has "cleared its final hurdles," as the team "agreed to two concessions demanded by Pittsburgh Urban Redevelopment Authority board members last month" when they narrowly approved the deal in a 3-2 vote, according to Mark Belko of the PITTSBURGH POST-GAZETTE. One concession calls for the Penguins to "sacrifice up to" 40% of the parking revenue the team receives from the 28-acre site if it "hasn't developed 10.75 acres" by '23. That is up from the 30% penalty that "originally had been negotiated." Another concession "removes language in a 'material adverse effects' clause that some board members believed could have allowed the team to skirt new deadlines under the agreement if the community objected to its plans." The new agreement "gives the Penguins another year -- until Oct. 22, 2025 -- to develop the arena property." Had the team "refused to grant the concessions, there would have been no deal." The next stage of development will start tonight when the team and St. Louis-based developer McCormack Baron Salazar "host a design workshop and charrette involving the first 250 of the 1,000 residential units to be built at the site near Crawford Square." The Penguins also "plan to introduce the minority developer that will be responsible for developing another 250 units in the second phase" (PITTSBURGH POST-GAZETTE, 12/6).