Development of North Shore continues to grow
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A rendering of Hyatt Place on the North Shore.
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Next up for the North Shore: A third office building, residences and more entertainment.
With a decade-long pursuit of an entertainment complex finally completed with the opening last week of Stage AE, Continental Real Estate Cos. and its partners, the Steelers and the Pirates, are ready to begin a drive to finish off development between Heinz Field and PNC Park.
But the effort could hinge on a perennial source of tension: Parking.
"We're at a precipice right now," Continental chairman Frank Kass said. "In order to build anything, there's going to have to be additional parking."
Columbus, Ohio-based Continental was selected by the two sports teams in 2002 to develop the 25 acres of land between the two stadiums.
Since then, the developer has completed the Equitable and Del Monte office buildings and has attracted a handful of restaurants to fill space in them, including Hyde Park Prime Steakhouse and the popular Jerome Bettis Grille 36.
And last week, in addition to the launch of the $12 million Stage AE concert venue, the $25 million Hyatt Place hotel opened. Both projects overcame controversy and a rough economy to open.
To some, the development between the stadiums hasn't come quickly enough. But Mr. Kass and the Steelers are pleased with the progress to date given the state of the economy, tight credit markets and other obstacles, including the construction of the subway line to the North Shore.
They noted that the area today is a far cry from what it was during the days of Three Rivers Stadium, which was surrounded by acres of surface parking and nothing else.
"When you look at the North Shore circa 1996 and compare it to 2010, I think everybody involved -- the teams, Continental, the city and the state -- should be very proud of what's gone on down there," said Mark Hart, director of business for the Steelers.
The concert venue proved to be the most difficult to develop. The Steelers began pitching the idea of an amphitheater next to Heinz Field early in the decade. After failing to reach a deal with a host of potential candidates, from House of Blues to Anschutz Entertainment Group, they settled on a partnership that involved Continental and PromoWest Productions.
First Published December 7, 2010 12:00 am
