Pittsburgh Planners See Potential In A Revamped Mellon Square

DSC01808Could Mellon Square become the next Market Square?

While it’s no European-style piazza, some believe the area around the newly restored park could be primed to become one of Downtown’s next hot spots for restaurants and retail.

“I see it becoming the next great Downtown destination,” said Herky Pollock, executive vice president of the CBRE real estate firm.

Only a few years ago, the Smithfield Street corridor between Fifth and Liberty avenues that includes Mellon Square appeared to be ready for last rites.

Read more: http://www.post-gazette.com/local/city/2014/07/21/Planners-developers/stories/201407200210#ixzz3892O45lx

New Economic Study Points To Rapid Growth In Downtown Pittsburgh

English: Downtown Pittsburgh

English: Downtown Pittsburgh (Photo credit: Wikipedia)

When it comes to economic and residential growth, the Golden Triangle has had the golden touch in recent years, with almost $800 million in development under construction and about twice that much planned.

A study released on Thursday predicts that trend will continue with explosive development of apartments, hotels and retail and high-end office space in Pittsburgh’s Greater Downtown, including the Triangle, North Shore, South Shore, Uptown, the Bluff and near Strip District as far northeast as 31st Street.

“We’re only experiencing the beginning of Downtown’s transformation,” said Jeremy Waldrup, president and CEO of the Downtown Partnership.

The partnership produced the study, which looked at economic indicators in several key areas to evaluate Downtown’s vitality. It gave the results in a presentation at Union Trust Building — itself a symbol of Downtown’s revitalization.

Read more: http://triblive.com/news/adminpage/6115943-74/downtown-percent-partnership#ixzz31tEGYvVi
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Boston Developer Buys Union Trust Building, Downtown Pittsburgh

A map of Pittsburgh, Pennsylvania with its nei...

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

A Boston developer with Pittsburgh ties bought Downtown’s Union Trust Building for $14 million in a sheriff’s sale on Monday.

The Davis Companies has developed property in 12 states mostly along the East Coast, but this is its first foray into the Pittsburgh market, said Downtown attorney David Lampl of Leech Tishman Fuscaldo & Lampl, who is representing the developer.

“We are evaluating our purchase of the building regarding its future use and hope to make a decision within a month or two,” said Jonathan Davis, 61, founder and CEO of The Davis Companies.

Read more: http://triblive.com/news/adminpage/5695981-74/lampl-building-developer#ixzz2uvTdS9ky
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