Mayor Bob O'Connor teased the Downtown faithful yesterday with talk that four or five developers have an interest in rebuilding parts of the Fifth and Forbes corridor. That may explain why he held off one developer with a long-expressed interest in the former G.C. Murphy's store.

Madison Marquette, which has been courted by the Pittsburgh Task Force to help revive Fifth and Forbes, sought the mayor's approval for exclusive rights to redevelop the publicly owned properties in the corridor. Mr. O'Connor declined, however, saying he wants to review other proposals and choose the best for the city.

The mayor is right to let competition improve the deal. Madison Marquette and local developer Ralph Falbo are two of the developers with an interest in the neighborhood.

Just as the work shouldn't go to the first bidder, however, it also shouldn't go to a firm because it's homegrown. If Mr. O'Connor truly wants "to evaluate who has the best scenario for the people of Pittsburgh," he'll weigh each plan before giving any the green light.

Although Madison Marquette has proposed a project with 150 to 200 apartments and retailers like Crate & Barrel and Tiffany & Co., the $50 million package could require $24 million in public subsidies. Less is known about the plan of Mr. Falbo, who is already building a $26 million, 18-story condominium tower on Fort Pitt Boulevard. He said he would like to construct several hundred residential units in the old Murphy's space along with a market and other retail shops.

Now, to Pittsburgh's advantage, there may be two or three other developers eager to become part of a Fifth and Forbes revival.

The Pittsburgh Task Force, a private group put together by the Pittsburgh Downtown Partnership and local foundations to jump start change for the better along the retail corridor, has done outstanding work in finding a buyer and developer for the former Lazarus building and in landing Madison Marquette as a potential player, too. Its efforts have been a key to fanning interest in a turnaround.

Couple that with the start of construction later this year by PNC Financial Services Group on a $170 million office tower on Fifth Avenue that will have 30 condos, a 150-room hotel and ground-level retail and restaurants -- and it's no wonder that other ideas are percolating for the neighborhood.

We're glad Mayor O'Connor wants to seal a deal on developing the public properties by summer. But he has a right, not to mention a civic obligation, to go after the best deal he can get.