Cultural Trust delays $500 million Downtown project
June 1, 2008
The Pittsburgh Cultural Trust announced Thursday it would delay indefinitely a $500 million project to revitalize Downtown with a neighborhood of shops, restaurants and residential units.Cultural Trust officials cited the volatile economy, especially in the credit and mortgage industry, for the change in plans. However, the Washington, D.C.-based developer of the RiverParc project accused the trust of mishandling the project.
“We found very quickly there was no one there who knew what it would take to move this project forward,” said Susan Eastridge, CEO and founder of Concord Eastridge Inc. “It’s kind of a fumble-bumble, I guess.” READ MORE
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