PITTSBURGH — There’s no stopping the redevelopment of the Gulf Tower but that doesn’t mean there’s any stopping of the financial quest to raise the money to pay for it either.
After the project was awarded a $6 million grant from the Redevelopment Assistance Capital Program of the state of Pennsylvania last year, the joint venture pursuing the redevelopment roughly estimated in the past to cost around $230 million have applied for two more RACP grants in the new funding round, public grant application documents show.
The two new applications total $14 million, one by an affiliate of Rugby Realty Co. Inc. called Gulf Tower Property Owner LLC for $4 million and the other by New York-based Left Lane Development, making a request for $10 million.
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