Article: Urban Shopping Centers, Inc. Awarded Consulting Assignment and Development Option By City Of Pittsburgh

CHICAGO, July 31 /PRNewswire/ -- Urban Shopping Centers, Inc. (NYSE: URB) today announced that it has been selected to examine the development potential of a site by the City of Pittsburgh, Pennsylvania. Urban will review the size and feasibility of a retail and entertainment district in the Fifth Avenue and Forbes Avenue area in downtown Pittsburgh.

The potential development encompasses approximately 400,000 square feet of retail space. In exchange for the work to be done by Urban, the City of Pittsburgh will not entertain other offers to develop the proposed area for a period of one year. This time period may be extended by mutual agreement of the ...

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