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Good Sportsman Marketing has leased the entire space in Building A of Parc SouthWest or approximately 180,497 square feet, and Building B will be fully occupied by three tenants.
The facility, which will serve families in a traditionally low-income neighborhood, will open next year in Avenue Center, a community resource center across from Moody Park that is being developed by Avenue.
In connection with the development of Live! Casino Pittsburgh, Stadium Casino will renovate a 100,000-square-foot area at the Westmoreland Mall. The casino will feature 750 slot machines and will open with 30 table games with an anticipated expansion to 40 tables.
The lease extension transaction comes after Denholtz Properties completed last year a $500,000 capital improvement project at the two-story, 54,599-square-foot Class-A office building.
The redesign of The Green which will feature more than 2,000 individual plants, 20,000 pounds of natural, locally sourced stone, and 2,000 square feet of sodded lawn
The gaming board report later notes that the amount of profit relative to total development costs, inclusive of licensing and reconciliation fees, would be at best result in a 1% or 2% return annually, which is not an acceptable rate of return for a casino developer on a greenfield project.