Change of fortune: Bank to replace Strip District McDonald’s

From burgers to bills.

That appears to be what the future holds for the old McDonald’s restaurant site in the Strip District.

Dan Kamin, the owner of the property, said Monday he has secured a lease with a bank to build a branch on the prominent patch of real estate, located at 1630 Penn Ave. at the entrance to the Strip.

He declined to name the financial institution involved, saying there are still technical and construction-related issues to be finalized. “It’s not there yet. It’s being worked on,” he said.

Nonetheless, Mr. Kamin is hoping to get the one-story branch started and completed next year.

The bank would replace a McDonald’s restaurant that abruptly closed its doors in January after spending decades at the location. Six months later, the site that once was home to the golden arches is now little more than rubble.

McDonald’s had the option under its lease to leave the restaurant standing or to tear it down. It chose the latter. It had until July 8, the end of its lease, to remove the structure. It already has done so, Mr. Kamin said.

“The building is down,” he said. City records show the demolition was completed earlier this month.

For the new tenant, the location might just be, er, money in the bank.

The highly trafficked site sits at the entrance to the Penn Avenue retail corridor — one that features

generations-old merchants like Robert Wholey & Co., Pennsylvania Macaroni Co., Stamoolis Brothers Co., DeLuca’s, Jimmy & Nino Sunseri Co. and Primanti Brothers.

It’s an eclectic stretch that’s a favorite destination for tourists, as well as Pittsburghers.

Even with the COVID-19 pandemic, Mr. Kamin said there was considerable interest in the McDonald’s site from restaurants, financial institutions and others. The bank he ended up signing the lease with “seemed like the best deal at the time.”

Before construction can start, there are still permits to be had and other technical issues to be resolved. But Mr. Kamin is confident everything will fall into place.

“It looks real good at this point,” he said.

In searching for a new tenant, Mr. Kamin wanted to find a use that was complementary to the neighborhood.