Posted by Walnut Capital on 1:41 PM
The proposed Bakery Square 2.0 development at the former Reizenstein School cleared a key hurdle Tuesday, winning approval from the city planning commission for a zoning change needed to advance the project.
In a 5-0 vote, commission members recommended the creation of a specially planned district to govern development of the 20-acre site, which would encompass the current Bakery Square complex. The proposed zoning change now goes before city council for final approval.
With Tuesday's action, which also included approval of a preliminary development plan, the project is on track to begin in January with the demolition of the Reizenstein School. Developer Walnut Capital expects to close on the $5.4 million property purchase by the end of the year.
The $120 million-plus mixed use development on the Larimer and Shadyside border will feature 400,000 square feet of office space on Penn Avenue across from Bakery Square.
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