RIDC among 5 new business development projects

The Regional Industrial Development Corporation of Southwestern Pennsylvania was awarded a $2 million, 15-year loan at 4 percent on behalf of Doughboy Square Partnership L.P., for the construction of a 24,792-square-foot addition to a building in Pittsburgh, Allegheny County. The building is being utilized as a single-tenant facility. This project will allow for the property to be converted into a multi-occupancy building.

The construction of the 24,792 SF, three level facility will consist of a 16-car parking garage on the 1st floor, expansion space on the 2nd floor, and speculative space on the 3rd floor to be leased to PIDA eligible businesses. The project is expected to retain 34 jobs and anticipated to create 28 new jobs over the next three years. Total project costs are estimated at $6.3M and the building is slated for occupancy Fall of 2018.