Study: Pittsburgh’s Network Of Riverfront Parks Contributes To Boom In Development

Pittsburgh’s riverfront parks system is not only a haven for rest, relaxation and recreation but an economic powerhouse that has helped to generate billions of dollars in development over the past 15 years, a study has found.

In that time, the $130 million invested in the 13-mile Three Rivers Park has helped to produce nearly $4.1 billion in development on and near the riverfront, according to the study by Sasaki Associates, a Massachusetts-based architectural and planning firm.

In addition, the study, commissioned by Riverlife and to be released today, determined that since 2001, property values along that stretch have jumped by 60 percent compared with 32 percent in the rest of the city.

“The pattern in Pittsburgh and in other cities across the country is clear: properties with close proximity to high quality park infrastructure increase in value more than properties that do not,” the report stated.

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http://www.post-gazette.com/business/development/2015/05/07/Study-Pittsburgh-s-network-of-riverfront-parks-contributes-to-boom-in-development/stories/201505070094

Four-Building SouthSide Works Project Unveiled

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

Since arriving in Pittsburgh three years ago, Raleigh, N.C.-based Highwoods Properties has acquired iconic PPG Place and EQT Plaza, Downtown. Now it’s moving across the river — to build, not to buy.

The real estate investment trust has reached an agreement with the Soffer Organization to erect four office buildings at the 34-acre SouthSide Works complex on the last four parcels left for development.

Highwoods plans to start with a 158,000-square-foot glass office building on the Monongahela riverfront next to Hofbrauhaus restaurant. The six-story building would feature 30,000-square-foot floor plates, terraces, an 8,000-square-foot restaurant, locker rooms, bike storage, a 72-space parking garage, and direct access to the waterfront park, trails and marina. Other buildings would follow based on demand — about 400,000 square feet of office and retail space in all.

Read more: http://www.post-gazette.com/business/2014/10/10/4-building-SouthSide-Works-project-unveiled/stories/201410100105

Peduto Makes Pitch For New Housing In Pittsburgh

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

Whether it’s Oxford or Ralph Falbo, Pittsburgh Mayor Bill Peduto has a message for developers — give me housing and lots of it.

And that applies to the North Shore, too, where you will find lots of offices and bars and even a hotel, but not a single place to call home.

In meetings with developers, Mr. Peduto is making it clear that there is a new administration with a new agenda in town — one that places a premium on housing and neighborhood business districts.

“Retail follows rooftop. That’s what [the late mayor] Bob O’Connor used to say. We don’t need to TIF retail centers. We don’t need to put public dollars behind big box. They’ll come. What we need to do is to build up the population that will shop there and then the retail would never need public subsidy,” he said.

Read more: http://www.post-gazette.com/local/city/2014/02/06/Peduto-makes-pitch-for-new-housing/stories/201402060184#ixzz2saXXgnKv