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Mar. 27, 2013

Landmark Developments To Look Forward To in Downtown Pittsburgh

By Adriana Pop, Associate Editor

Pittsburgh’s growing downtown will soon welcome a new wave of development. According to the Pittsburgh Post-Gazette, 60 projects are currently planned for the Golden Triangle region, totaling about $2.2 billion in investment.

Developed by Millcraft Investments, the Gardens at Market Square is among the most notable mixed-use towers expected to break ground in the heart of downtown this year. Lucas Piatt, the company’s president and chief operating officer, has discussed the $95 million hotel, office and retail project during the recent annual meeting of the Pittsburgh Downtown Partnership.

The 18-story high-rise will be developed on Forbes Avenue, between Market Square and Wood Street, and will include approximately 125,000 square feet of office space, a 197-room Hilton Garden Inn, 20,000 square feet of retail space and a 335-car parking garage. Construction is expected to start in June, with Turner Construction Co. as construction manager and anchor tenant. Popular restaurant Burgatory and Jackson’s Social Bar and Restaurant are also among the building’s tenants. The completion date for the entire development has been set for 2015.

During the meeting, Millcraft Invetments discussed another project on its drawing board, which includes the redevelopment of the former Saks Fifth Avenue store. The developer has partnered with McKnight Realty Partners to build a 130-unit apartment building at the site. The complex would feature a rooftop swimming pool, a spa, a yoga room or studio, a 450-space parking garage, and 25,000 square feet of street-level retail.

The Pittsburgh Downtown Partnership has outlined several other projects that are slated to continue progress in the Golden Triangle. These include the $42 million upgrade of the Point State Park, PNC’s conversion of the former Lord & Taylor department store on Smithfield Street into a call center, a new three-story office building on the North Shore to be developed by Continental Real Estate, as well as the redevelopment of the 28-acre Civic Arena into housing, office, retail and entertainment space.

Photo credits: http://www.millcraftinv.com/