Airport Authority OKs loan to prepare office building site

A $750,000 loan will help the Allegheny County Airport Authority develop a new office building and hangars at the site of the old Greater Pittsburgh International Airport terminal.

The authority's board accepted the 20-year loan, with an interest rate of 3 percent annually, from the Commonwealth Financing Authority at its meeting today. The money will be used to relocate utilities and sewer lines and to remove the foundation of the old terminal in preparation for the redevelopment.

Randy Forister, the authority's senior director of development, said the infrastructure work probably will start in August and be finished sometime this fall. The work is expected to cost about $1 million. The authority previously had secured a $250,000 grant from the state to help cover the cost.

The 15-acre site, now part of the Airside Business Park, will be prepared for the construction of a single-story office building and three aircraft hangars. Mr. Forister said the actual construction is about a year away.

"Right now, there is interest in both," he said.

The old terminal was closed in 1992. It eventually was demolished to make way for the Airside Business Park.

Mark Belko: mbelko@post-gazette.com or 412-263-1262.

First published on February 10, 2012 at 2:05 pm

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Airport Authority OKs loan to prepare office building site