PITTSBURGH (KDKA) — More economic development is coming to the east end of Pittsburgh.
Walnut Capital, the developer that converted the old Nabisco Bakery on Penn Avenue into Bakery Square, is planning to expand across the street.
“We’re full here at the office building – the 250,000 square feet of office right now is 100 percent full, so we have tenants that want more space and they’re growing, like Google, UPMC, Pitt,” Greg Perelman, of Walnut Capital, said.
The company has purchased the now closed Reizenstein school. The building will be demolished and replaced by a new development called Bakery Square 2.0.
It will be a mixture of offices, shops and luxury townhomes.
“We’re gonna create hundreds of jobs here on this site on top of the thousands that we’ve already created, so the momentum is there and we’re really excited about this announcement,” Pittsburgh Mayor Luke Ravenstahl said.
Acting U.S. Commerce Secretary Rebecca Blank was also present at the announcement to say the federal government is kicking in $2 million for infrastructure costs.