$600 Million Makeover for Downtown Pittsburgh
On October 25th Gov. Josh Shapiro along with private industry, local officials and the foundation community unveiled details of a historic $600 million plan to reinvent Downtown Pittsburgh.
The public-private partnership's initial plans will involve creating about 1,000 new apartments and a hotel in seven current office buildings and renovating three public open spaces: Point State Park and Market Square and The Backyard, a block of 8th Street in the Cultural District.
“Pittsburgh is a great city, and in order for our commonwealth to thrive, we need to ensure downtown Pittsburgh is a hub of innovation, opportunity and culture," Shapiro said in a statement.
"With the commonwealth’s significant support, we have a plan to invest in and revitalize downtown – and help it reach its full potential as a great neighborhood where thousands of Pennsylvanians can live, work, enjoy safe public spaces and contribute to our vibrant culture. Pittsburgh’s elected officials, corporate leaders, sports teams, nonprofits, union workers and artists are all behind this plan – and together, we will write the next chapter of this great city’s story."
With a significant backing of state dollars, seven major mixed-use development and housing projects will be developed using $501.1 million in combined capital to create or preserve nearly 1,000 residential units — nearly a third of those units being affordable for residents with low-to-moderate incomes.
Those projects include:
Gulf Tower: Converting the iconic former Gulf Oil headquarters into a 225-unit apartment building with a 147-room hotel and street-level commercial space.
City Club Apartments: Building a 294-unit residential complex at the site of the former YWCA headquarters, which will include new restaurant and retail space for downtown residents and visitors.
The Porter: Converting an office complex into 165 new residential units and preserving of street-level retail space along one of the city’s main commercial corridors.
933 Penn Avenue: Converting an office complex into 70 new residential units with an accompanying street-level commercial space.
Smithfield Lofts Building: Converting unused offices into 46 new residential units, with additional improvements to the remaining office space.
First and Market: Converting a former office complex to become a 93-unit affordable apartment building.
May Building: Preserving 86 existing apartment units.
To complement the new mixed-use residential developments, private and public funding will transform these public spaces:
8th Street Block Civic Space: Led by the Pittsburgh Cultural Trust, this $30 million project will convert underutilized parking lots and open space in the city’s Cultural District into a new outdoor destination. The 8th Street Block Civic Space will host festivals and performances on its main lawn with a bandshell, provide amenities like a family play area and restrooms for visitors and residents and offer green space and public art for everyday recreation and exploration.
Market Square & Liberty Avenue Medians: This $30 million dollar project will fund a major renovation of Market Square and the Liberty Avenue Medians, improving paving and adding benches and tables for visitors, expanding dining spaces, and building capacity to host more events and markets. The median project better connects Point State Park to Market Square.
Point State Park: The state will invest $25 million into a series of short- and long-term projects that will improve pedestrian access to the park, update the lighting at the park’s landmark fountain, and add recreational activities to its cityside lawn. Shorter term projects on walkways and the fountain will be complete in time for the upcoming 2026 NFL Draft, when Pittsburgh will host hundreds of thousands of sports fans from across the country.
The state is investing $62.6 million and the City of Pittsburgh is committing $22.1 million through the Urban Redevelopment Authority towards the redevelopment efforts.
A coalition of private sector leaders and regional foundations have committed more than $40 million. They include BNY; Dollar Bank; Duquesne Light; Federated Hermes;
FNB Bank; Giant Eagle; Highmark; Pitt Ohio; PNC Bank; PPG Industries; Reed Smith; Buchanan Ingersoll & Rooney PC; K&L Gates; the Buhl Foundation; the Eden Hall Foundation; the Heinz Endowments; the Hillman Foundation; the Jewish Healthcare Foundation; the Pittsburgh Steelers; the Pittsburgh Pirates; and the Pittsburgh Penguins.
Those public and nonprofit dollars are expected to spur an additional $376.9 million in private sector investment from real estate developers Downtown.
