Saturday, July 20, 2013

Sheraton Station Square sold

On the heels of my blog post about what should be done with Station Square, I read this in today's Tribune-Review.

I mentioned how Forest City announced that they were going to put the entire Station Square complex on the market to find another owner. Apparently they received interest but only for the 399-room Sheraton. Pyramid Hotels and a joint owner purchased the hotel for $61 million and plan a $12-$18 million renovation of the hotel to improve service for leisure, group, and corporate travelers.

I hope they can secure interest in constructing a mixed use complex for the parking lot parcel I referenced in my initial post regarding Station Square. Since they bought the entire complex in 1998, they have expanded the Sheraton to its current size, they added Bessemer Court which brought in a plethora of new public spaces and restaurants including a Hard Rock Cafe, and they recently completed Highmark Stadium, the home of the Pittsburgh Riverhounds professional soccer franchise. Building a complex to include residential units would all but complete the transformation of Station Square.