Pittsburgh Post-Gazette - July 14, 2015
By Mark Belko
A Philadelphia developer has big plans to recruit retailers, restaurants and entertainment to replace a departing Macy’s Downtown, but some wonder whether it will be enough to fill the void left by the loss of the department store.
Hours after Macy’s announced its decision to close the iconic department store at Fifth Avenue and Smithfield Street, representatives for Core Realty said Monday that they intend to devote two floors to retail in the 13-floor building to complement plans for 311 apartments and a 155-room hotel.
“We think it’s something Pittsburgh is ready for and will embrace,” said Randy Mineo, Core’s executive vice president. “We’re excited about getting started with that process.”
Core is considering fashion retailers, restaurants, and entertainment, including a possible bowling alley, for the first two floors of the building, a couple hundred thousand square feet in all.
Mr. Mineo said the developer is “going after the very best retailers we can find” as part of the redevelopment, expected to top $90 million. He said talks with retailers are just beginning now that Macy’s has formally announced the store’s closing.