Kennywood has agreement to purchase 20 or more acres

Posted Wednesday, July 6, 2005 9:32 PM | Contributed by Jeff

Kennywood President Pete McAneny said Wednesday the company has an agreement to acquire between 20-25 acres adjacent to its park property from the Union Railroad, which formerly operated a repair shop at the bottom of the ravine. Last month, it closed on a deal to acquire the shopping plaza adjacent to its parking lots off Hoffman Blvd. that contains a Kmart store that closed two years ago. The price for those two properties is about $2.6 million, but McAneny said the company could spend "tens of millions" more in coming years developing them.

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