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Developer signs Fifth and Forbes retail deal. (Urban Retail Properties Co.)
DOWNTOWN - Urban Retail Properties Co., the Chicago firm that hopes to line Fifth and Forbes avenues with shops and restaurants., has signed a development option and consulting deal with the city of Pittsburgh.
"We think Pittsburgh is a terrific city with a tremendous amount of retail potential," said Adam Metz, chief financial officer for Urban Shopping Centers Inc., Urban Retail's parent, a publicly traded real estate investment trust.
"If there is some deal that makes sense there, we would love to get involved with it."
Under its agreement with the city, Urban will explore the potential of a Downtown retail project, determining its size and its practicality.
Urban executives, in a statement, said the development area could encompass 400,000 square feet of retail space.
If built, …
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