Posted May 30, 2018, 2:51 PM
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Hell with the Lid Off.
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Join Date: Mar 2012
Posts: 305
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Quote:
Originally Posted by eschaton
Here's the Business Times Article...
Quote:
The Pittsburgh Zoning Board of Adjustment has rejected Walnut Capital Partners request for a variance to add three stories and nearly 130,000 square feet to a second office building at its Bakery Square 2.0 master plan.
After the development company originally presented its plan to the ZBA in mid-February, the ZBA announced that it had rejected Walnut Capital’s variance requests at its regularly scheduled Thursday morning meeting.
In response to the variance rejection, Bill Sittig, a lawyer who represents Walnut Capital, withdrew a new variance request for height to build a new 10-story, 1,000-car garage at 6447 Dahlem Street on property in Larimer close to Bakery Square.
Sittig declined further comment.
Walnut Capital had sought to build a second office building at its Bakery Square 2.0 site that would total 130 feet in height and 330,000 square feet, a scale Walnut Capital principal Todd Reidbord indicated was in response to office demand.
The company has already been approved for the master plan of the Bakery Square 2.0 site to develop a building of six stories and about 200,000 square feet for a site that fronts on Penn Avenue next to the first building there.
Walnut Capital also has sought zoning variances for floor area ratio as well as for a height above the zoning limit of 85 feet for the new office building.
In February, Reidbord discussed the new larger building in the context of a larger strategy to connect it to a new garage, said to be 800 spaces then, as well as to a proposed transit station in Larimer.
Sources have indicated that Walnut Capital has been in advanced negotiations to lease upwards of 200,000 square feet at its new building at Bakery Square 2.0 to Philips Respironics, which has been scouting for a new location in which to consolidate what’s expected to be a regional office headquarters.
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The Philips deal is potentially dead now. With the variance defeated, the final office building will have just enough space for just Philips, but if Walnut Capital had agreements with some other potential tenants the new building might not serve their needs.
Maybe this will work out for the best though, and move along one of Walnut Capital's other office projects to a quicker completion date. |
hmm.. According to this. They came down one foot. And the variance is 85 ft. Either way, I agree. It's a win.
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