US Steel decides against new HQ in Penguins development
PITTSBURGH (AP) — United States Steel Corp. has pulled out of a deal to build its new world headquarters as part of an ongoing redevelopment of the former Civic Arena site by the NHL's Pittsburgh Penguins.
Thursday's decision comes almost exactly a year after company, team, local and state officials announced the plans at the Consol Energy Center, the Penguins new arena.
The arena sits across the street from the site where a team-controlled subsidiary planned to break ground on the new headquarters and complete the project before U.S. Steel's lease expires at its current downtown location.
Local government and team officials say the loss of U.S. Steel won't stop the estimated $440 million redevelopment project. And U.S. Steel says it will honor its current 50-year lease at the 64-story U.S. Steel Tower.