2014 STATE OF DOWNTOWN

2 0 1 4
S T A T E
O F
D OW N TOW N
P I T T S B U R G H
TABLE OF CONTENTS
04
BY T HE NU MB E R S & ACCO L ADE S
06
OF F I C E, E MP LOY ME NT & E DU C AT IO N
14
HO USI N G & P O P U L AT I O N
20
RESTAUR A N TS & R E TA I L
26
C ULT URE , E NT E RTA I N ME N T & H OT E LS
34
T RA N SP O RTAT I O N & CO N N E C T I V IT Y
38
E N V I RON ME N T & S U STA I N A B I L I T Y
42
D OWN TOW N DE V E LO P ME NT
46
AC KN OW L E DGE ME N TS
G R E AT E R D O W N T O W N
BUSINESS
IMPROVEMENT
DISTRICT
State of Downtown Pittsburgh is produced by the Pittsburgh Downtown Partnership.
The data presented in this report is derived from many sources and covers activity
within the boundaries of the Business Improvement District and Greater Downtown.
Greater Downtown includes the Golden Triangle, North Shore, South Shore, near Strip
District (to 31st Street), Lower Hill and Bluff/Uptown.
For more information about the Pittsburgh Downtown Partnership, its reports, data,
and
its reports,
studies,data,
or toand
become
studies,
a member,
or to become
pleaseavisit
member,
DowntownPittsburgh.com
please visit
or email
PDP@DowntownPittsburgh.com.
DowntownPittsburgh.com or email PDP@DowntownPittsburgh.com.
The Pittsburgh Downtown Partnership is pleased to
share the third annual State of Downtown Pittsburgh
report, providing an in-depth and fact-based snapshot
of ongoing development and real estate activity in
Downtown Pittsburgh.
The 2014 State of Downtown Pittsburgh is a
comprehensive look at the many sectors that
encompass a vibrant Downtown economy. We
continue to emphasize its importance as a
compendium of both previously released industry
specific data in addition to new analyses conducted
explicitly for this report. We have enhanced the third
edition of this report by benchmarking key indicators
to peer downtowns to provide you with a better
understanding of how Downtown Pittsburgh stacks up
to our competitive sets.
The Pittsburgh Downtown Partnership is celebrating
twenty years of working to create a downtown that is
ripe for investment. In the last two decades Downtown
has experienced an unprecedented transformation
with riverfront revitalization, the construction of four
new professional sports facilities and world-class
theater venues, the makeover of a small urban college
into a university-driven Academic Village, a state of
the art convention center, a vibrant hotel industry, and
a growing residential neighborhood.
It is our hope that the 2014 State of Downtown
Pittsburgh is a resource for current and future
Downtown businesses, investors and stakeholders.
As our economy evolves, it is important that we
continue to create a world-class destination that
remains competitive in attracting and retaining talent
that supports the diverse and growing economy of
Southwestern Pennsylvania.
We’re only experiencing the beginning of Downtown’s
transformation and look forward to influencing the next
twenty years of growth and innovation in our region.
Jeremy Waldrup
President and CEO
G R E AT E R D O W N T O W N
BY THE NUMBERS
OFFICE, EMPLOYMENT & EDUCATION
CULTURE, ENTERTAINMENT & HOTELS
Class A Space (CBD, Total Sq. Ft.)17.1M
Sports Venue Attendance
Class A Occupancy (CBD)
Performing Arts, Museum & Gallery Attendance 2.8M
94.4%
Class A Lease Rate (CBD)$26.38
Economic Impact of Arts and Culture
4.9M
$276M
Employment (2012)113,110
Existing Hotel Rooms
4,570
Fortune 500 Companies in Greater Downtown6
Planned Hotel Rooms
1,491
HOUSING & POPULATION
TRANSPORTATION & CONNECTIVITY
Greater Downtown Residential Units4,450
Number of Off-Street Spaces % Units Built after 200047.5%
Number of On-Street Metered Spaces Apartment Occupancy Rate95.6%
Average Lease/Daily/Evening Rates Average Rent – 1 Bedroom Apartment$1,455
Number of Zipcars 21
Average Rent – 2 Bedroom Apartment$1,887
Direct Destinations via Air 37
Average Condo Sales Price$320,493
Direct Destinations via Bus 28
2013 Population12,343
Direct Destinations via Train 9
RESTAURANTS & RETAIL
ENVIRONMENT & SUSTAINABILITY
39,991
497
$235/$14/$7
Number of Dining Establishments
258
Sidewalk Planters & Hanging Baskets600/440
Number of Retail Establishments
234
Acres of Park Space47.25
$108
Miles of Riverfront Trails7.13
10%
Energy Star Certified Space (Square Feet)5.2M
$13.61
Average Daily Temperature (˚F high/low)60.3/42.8
Average Pedestrian Weekly Spending
Average Retail Vacancy Rate
Average Rent per Square Foot
Restaurants with Outdoor Seating
4
62
PITTSBURGH ACCOLADES
• MSN named Downtown Pittsburgh one of 10 Up
and Coming Downtowns in the U.S.
• Pittsburgh was one of the Best Major Cities for
Millennials according to The Atlantic Cities
• KPMG called Pittsburgh one of the Least-Costly
Places to Do Business
• Pittsburgh ranked 8th among Large Cities for
Commuting Without Cars according to the Institute
for Quality Research
• Kiplinger named Pittsburgh the #1 City for Starting
a Business
• Pittsburgh is the #1 City for Young Entrepreneurs
according to Under 30 CEO
• Farmers Insurance Group named Pittsburgh one of
the Safest Big Cities in the U.S.
• Pittsburgh is America’s Smartest City according to
MOVOTO Real Estate Blog
• Grant Street in Downtown Pittsburgh was named
one of the Greatest Streets in America by the
• MSN named Pittsburgh the Top City with Class
• Pittsburgh is one of the Best Places to Retire
according to MSN Money, Huffington Post, and CNN
• Forbes named Pittsburgh the Best American
Comeback City and one of the Best Cities for
Minorities
• Pittsburgh ranks in the Top Five for Home
Affordability according to Interest.com
• Amazon.com named Pittsburgh one of the Most
Well Read Cities
• Pittsburgh is one of the Most Charitable Metro
Regions according to Charity Navigator
• Pittsburgh has the Most Bars Per Capita in the
country according to research by Infogroup
Targeting Solutions
• Forbes.com called Pittsburgh the most
Unexpectedly Romantic City
• Jetpac named Pittsburgh the 5th-Happiest City in
the U.S. based on an Instagram Smile Score
American Planning Association
List compiled by Pittsburgh Downtown Partnership and
Pittsburgh Regional Alliance
Pittsburgh Downtown Partnership
5
2014 State of Downtown Pittsburgh
OF F IC E ,
E M P L OY M E N T
& E D U C AT I O N
6
While the concept of adaptive reuse of office
Among notable leasing activity, law firm Leech
buildings is not new, it is happening at a rapid
Tishman renewed and expanded its space in 525
pace in Downtown Pittsburgh and is impacting the
William Penn Place to 47,000 square feet while
availability and pricing of the existing stock. Since
accounting firm Schneider Downs sold its building in
2011, approximately two million square feet of office
the 1100 block of Penn Avenue after leasing nearly
space has been removed from the market as the
47,000 feet in One PPG Place. PPG spinoff Axiall
spaces undergo conversion to hotel and residential
Corporation secured 22,000 square feet in 11 Stanwix
uses. Class A vacancy in the first quarter of 2014 was
Street. Church Falls, VA-based Computer Sciences
at 5.6% compared to 7.1% a year earlier according to
Corporation entered the Pittsburgh market upon
CBRE. At the same time, the average Class A lease
subleasing over 57,000 square feet from EDMC in
rate increased by 6.4% from $24.79 to $26.38 per
Penn Liberty Plaza. The computer and information
square foot.
technology company intends to hire a local workforce
of 500 employees over the next few years, eventually
Rugby Realty expanded its Downtown holdings after
occupying 120,000 square feet. The company was
purchasing Koppers Tower at 436 Seventh Avenue for
attracted to Pittsburgh because of the talent pipeline
$17.6 million and Starwood Capital purchased the dual
from local universities in the technology sector.
hotel-office Liberty Center at 1001 Liberty Avenue for
$135 million. Rockmere Properties, a new ownership
An analysis of Greater Downtown employment using
group from Erie, PA, purchased the Bank Tower
Local Employment Dynamics Partnership, a program
located at 307 Fourth Avenue for $3.8 million with
of the U.S. Census Bureau, shows a net increase of
improvements planned for the historic building. Level
5,100 salaried jobs, or 5% between 2005 and 2011.
Interactive, named the Fastest Growing Company
Approximately 20% of Greater Downtown jobs are
by the Pittsburgh Business Times, purchased the
filled by workers below 30 years of age and 57%
Centennial Building located at 241 Fourth Avenue after
of which pay more than $40,000 per year. Greater
outgrowing leased space in Station Square.
Downtown accounts for 40% of all jobs in the City of
Pittsburgh, compared to Oakland’s 18%. Similarities
M&J Wilkow won a closed bidding process to
between Greater Downtown and Oakland in terms of
purchase the former Federal Reserve building at 717
wage, education, and age of workforce compounded
Grant Street for $3.7 million in August with intent to
with Oakland’s at-capacity office market can shift
invest in upgrades and reposition the building for
mentality of Downtown Pittsburgh as an appropriate
new office tenants. However, M&J Wilkow accepted a
location for spillover of Oakland’s office tenants.
sales offer from Drury Hotels and sold the building in
November, taking 135,000 square feet of office space
Nearly 70,000 undergraduate and graduate students
out of the market as Drury plans to open a hotel in the
are enrolled in four-year colleges and universities
building in 2015.
within a ten-mile radius of Downtown, of which nearly
18,000 are in Greater Downtown. The University of
The PNC Financial Services Group completed
Pittsburgh, Carnegie Mellon University, and Duquesne
construction at its new customer care center in
University received $853 million from the federal
the former Lord & Taylor department store at 500
government of their combined $1.1 billion research
Smithfield Street in the fourth quarter when the
budgets in 2012 for research and development,
bank moved employees from leased space in the U.S.
creating jobs and opportunities throughout the region.
Steel Tower. This move resulted in the opening of two
contiguous floors in the near-capacity Grant Street
Tower. Construction on the Tower at PNC continues
with more than 75% of the structural steel completed
in the first quarter of 2014. PNC expects to occupy the
building in the summer of 2015.
7
CLASS A & B VACANCY RATE
22%
$28
20%
$26
16.6%
14.8%
$24
CBD
16%
12%
8%
$22
5.6%
$18
$17.63
$17.46
$16
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
1Q13
2Q13
3Q13
4Q13
1Q14
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
1Q13
2Q13
3Q13
4Q13
1Q14
0%
$23.22
$24
18.7%
15%
12.7%
10%
5%
2.9%
5.3%
Downtown Fringe
25%
$22
$22.85
$21.39
$20
$18
$16
$15.73
$14
0%
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
1Q13
2Q13
3Q13
4Q13
1Q14
Downtown Fringe
$23.70
$20
9.4%
4%
20%
$26.38
Class A
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
1Q13
2Q13
3Q13
4Q13
1Q14
CBD
class a & b rent
Class B
Source: CBRE
CBD & GREATER DOWNTOWN HIGH IMPACT SALES TRANSACTIONS
Building
Buyer
Price
Square Feet
1000-1001 Liberty Ave
Starwood Capital Group
$135,000,000
526,000
436 7th Ave
Rugby Realty
$17,200,000
356,439
717 Grant Street
Drury Hotels
$6,980,000
220,000
307 Fourth Ave
Rockmere Properties LLC
$3,800,000
78,404
717 Grant Street
M&J Wilkow
$3,800,000
220,000
121 7th Street
121 7th Street LP
$3,600,000
60,000
125 7th Street
125 7th Street LP
$3,600,000
59,000
810 Penn Ave
Jim Genstein JV Propel
Braddock Hills LLC
$3,500,000
50,000
1133 Penn Ave
Sage Land, LP
$2,300,000 44,100
Source: Avison Young; CBRE; Colliers International; Grant Street Associates - CW; HFF; JLL; NGKF
8
2014 State of Downtown Pittsburgh
COMPETITIVE SET CBD OCCUPANCY
RATES & RENTS (CLASS A, Q1 2014)
PITTSBURGH OFFICE MARKET
SQUARE FOOTAGE DISTRIBUTION
0 204060 80100
PITTSBURGH
3.4M
92.8%
2.3M
2.1M
3.6M
$27.43
CHARLOTTE
92.7%
$25.74
COLUMBUS
89.3%
$25.34
Greater
Downtown
accounts
for 48.5%
of the total
Pittsburgh
office
market
24.6M
4.3M
4.5M
NASHVILLE
89.2%
6.3M
$22.90
AUSTIN
88.9%
10.6M
$42.67
SEATTLE
10.3M
88.6%
$34.96
PHILADELPHIA
88.2%
$28.59
87.5%
MINNEAPOLIS
$29.74
INDIANAPOLIS
86.9%
$21.29
BALTIMORE
86.1%
$23.14
CLEVELAND
85.8%
PITTSBURGH MARKET TOTAL:
72 MILLION SQUARE FEET
CBD
PARKWAY EAST
DOWNTOWN FRINGE
CRANBERRY
PARKWAY WEST
EAST END
PARKWAY NORTH
OAKLAND
SOUTH
SOUTHPOINTE
Source: CBRE
$23.18
ST. LOUIS
84.4%
REGIONAL FORTUNE 500 ® COMPANIES
$19.14
DETROIT
83.5%
$23.34
KANSAS CITY
79.4%
$17.85
76.7%
CINCINNATI
$22.24
NATIONAL CBD
85.9%
$45.28
Class A Occupancy
CBD Class A Asking Rent ($ p.s.f.)
Source: JLL Research
Revenue
Rank(Billions)
United States Steel*
147
$19.3
PNC Financial
Services Group*
170
$16.6
PPG Industries*
182
$15.2
H.J. Heinz*
234
$11.6
Mylan
374
$6.8
WESCO International*
385
$6.6
Dicks Sporting Goods
437
$5.8
Consol Energy
463
$5.4
Allegheny Technologies*
490
$5.0
*Headquartered in Greater Downtown
Source: Fortune.com
Pittsburgh Downtown Partnership
9
CBD & Greater Downtown High Impact Lease
Transactions (over 15,000 sq FT)
Name
Building
Type
Square Feet
Computer Sciences Corporation
Penn Liberty Plaza
New (Sublease)
57,201
CBS Broadcasting (KDKA)
420 Ft. Duquesne Blvd.
Renewal
52,912
Trib Total Media
501 Martindale Street
Renewal
50,000
Leech Tishman
525 William Penn Place
Renewal/Expansion
47,000
Schneider Downs
One PPG Place
New
46,546
MP AIR, INC.
One PPG Place
New
41,000
Allegheny County
2100 Wharton Street
New
34,423
NSABP Foundation
Two Allegheny Center
New/Expansion
31,336
EQT Corporation
625 Liberty Avenue
Expansion
23,500
Sherrard German & Kelly PC
535 Smithfield Street
New
22,921
KPMG
500 Grant Street
Renewal
22,145
Axiall Corporation
11 Stanwix Street
New
21,881
Family Resources
1425 Forbes Avenue
New
20,626
RedPath Integrated Pathology, Inc.
2515 Liberty Avenue
Renewal
20,000
Duane Morris LLC
600 Grant Street
Renewal
19,414
GEMGroup
401 Liberty Avenue
Renewal
18,372
Sources: Avison Young; CBRE; Colliers International; Grant Street Associates - CW, JLL, NGKF
SALARIED JOBS IN GREATER
DOWNTOWN
113,110
114
112
106
104
105,944
108
108,092
110
108,001
Thousands
A MULTI-YEAR NATIONWIDE
OFFICE EFFICIENCY ANALYSIS
CONDUCTED BY JLL DETAILS
THAT THE AVERAGE AREA
ALLOCATED PER EMPLOYEE IN
CLASS A OFFICE SPACE HAS
DECREASED BY 25% FROM 300
SQUARE FEET PER PERSON IN
2001 TO 225 SQUARE FEET PER
PERSON IN 2010
102
20052007 2009 2011
Sources: OnTheMap - Local Employment Dynamics Partnership,
U.S. Census Bureau
10 2014 State of Downtown Pittsburgh
Percentage of Total Jobs, Age, Earnings, Educational Attainment, 2011
Jobs
% Age below 30
% Earnings more than
$3,333/month
Advanced Degree
CBD
83,78118.8%
59.8%
36.0%
Greater Downtown
113,11019.5%
57.1%
34.2%
Oakland
52,27919.1%
55.2%
36.7%
City of Pittsburgh
282,84120.5%
50.6%
30.5%
Allegheny County
700,35822.1%
43.4%
25.3%
Sources: OnTheMap - Local Employment Dynamics Partnership, U.S. Census Bureau
Higher Education Research &
Development Expenditures, 2012
EDUCATIONAL INSTITUTIONS
Total Enrollment
Art Institute of Pittsburgh*
1,942
Carlow University 2,922
Carnegie Mellon University 11,978
Chatham University
2,178
700
DeVry University*
1,949
600
Duquesne University*
9,956
Point Park University*
3,827
Robert Morris University**
5,181
Penn State University – Greater Allegheny
635
University of Pittsburgh –
Main
28,769
Total 69,337
$867M
$228M
900
$638M
500
$256M
$46M
400
300
200
$210M
$ Millions
800
100
$15.5M
0
*Greater Downtown University
**RMU Downtown and Bayer Center is included in these figures
Sources: Enrollment data - National Center for Education Statistics,
March 2014 - Provided by Pittsburgh Regional Alliance; employment data –
individual institutions
$9.8M
$5.7M
UniversityCarnegieDuquesne
of Pittsburgh Mellon
University
University
Federally Financed
Other Sources
Source: National Center for Science and Engineering Statistics - Higher Education
Research and Development Survey
16%
OF ALL SALARIED JOBS IN ALLEGHENY
COUNTY ARE LOCATED IN GREATER
DOWNTOWN
Pittsburgh Downtown Partnership
11
$29.3M
$71.9M
2012
2013
$7.1M
$18M
$48.3M
2011
2010
2007
2006
100
25
0
$159.1M
150
50
2009
200
75
$ Millions
338.7M
250
$332.8M
$317.2M
300
100
$81.1M
125
2008
400
$120.5M
150
$407.7M
450
350
$ Millions
SUPPLY OF PITTSBURGH-BASED
VENTURE CAPITAL
$136.6M
Pittsburgh Technology
Company Financing
50
0
Note: Estimate of uncommitted capital at Pittsburgh-based Venture Capital firms
20092010 2011 2012 2013
Source: Building Momentum: Investing in Pittsburgh’s Technology Sector, Ernst and
Young and Innovation Works - Provided by Innovation Works
Note: Dollars invested in Pittsburgh Technology companies through IPOs, Venture
Capitalists, Angel Investors, seed funding, and other sources.
Source: Building Momentum: Investing in Pittsburgh’s Technology Sector,
Ernst and Young and Innovation Works – Provided by Innovation Works
by the numbers
Class A Space (CBD, Total Sq. Ft.)17.1M
Class A Occupancy (CBD)94.4%
Class A Lease Rate (CBD)$26.38
Employment (2012)113,110
Fortune 500 Companies in Greater Downtown6
Sources: CBRE; OnTheMap – Local Employment Dynamics Partnership,
U.S. Census Bureau
11. 3%
CLASS A RENTAL RATES HAVE
INCREASED 11.3% SINCE THE BEGINNING
OF 2010 AS OCCUPANCY RATES HAVE
INCREASED 4%
12 2014 State of Downtown Pittsburgh
The Gardens at Market Square
$105 Million
128,000 SF Class “A+” Office
198-room Hilton Garden Inn
14,000 SF Exterior Retail
330-space Parking Garage
S P OT L I G H T
LEED-Silver Design
T H E G A R D E N S AT M A R K E T S Q U A R E
Market Square’s transformation into the vibrant
urban center of Downtown Pittsburgh has been
supported in part by investments in office, hotel,
and retail projects over the past half-decade.
Millcraft Investments is continuing to reshape
Downtown and enhance Market Square with the
introduction of The Gardens at Market Square
located at 260 Forbes Avenue.
The state-of-the-art mixed-use project features
a multi-tenant 128,000 square foot office tower
atop a 330-space parking garage. Office tenants
are welcomed through a dedicated and secure
lobby providing direct access to 18,500 square
foot floor plates on floors 12 through 18. The
project features 14,000 square feet of streetlevel retail space and two full-service restaurants
fronting Forbes Avenue that accompany a
198-room Hilton Garden Inn with a separate and
secure lobby.
Millcraft will achieve LEED-Silver certification,
upon competition, through the inclusion of lowemitting materials, energy and water efficiencies,
and storm water tank modules to reduce runoff
volume by 25% during major weather events.
The design also features landscaped roof
terraces providing tenants and guests with
access to the outdoors. The Gardens at Market
Square is slated to open by October 2015.
13
HOUSI NG &
P O P U L AT I O N
14
2014 State of Downtown Pittsburgh
The Golden Triangle population increased by 40.9%,
Another Philadelphia developer, Red Rocks Group,
or 1,053 individuals, between 2000 and 2010
purchased 121 Seventh Street and is currently
according to the U.S. Census Bureau. The population
converting the upper floors into 41 lofts. At this
of Greater Downtown, inclusive of the Golden
time new construction is concentrated in the Strip
Triangle, increased by 14.7% in the same time period
District with the announcement of the 299-unit
to 7,538 individuals. Between 2010 and the end
Three Crossings by Oxford Development at 26th and
of 2013 an additional 824 residential units opened
Railroad Streets and Schreiber Real Estate’s 59 units
in Greater Downtown. The PDP estimates that the
at 1100 Smallman Street. In total, the PDP is tracking
opening of such units at an average occupancy rate
nearly 2,746 units in the pipeline, half of which are
of 95.6% has attracted 1,176 new residents in the past
expected to open in the next five years.
three years, or a 10.5% increase since 2010.
Looking at condominiums, the volume of sales in
PMC Property Group opened a combined 100 units
Greater Downtown stayed relatively flat with 65 sales
in two conversion projects at 526 and 908 Penn
in 2013, compared to 63 in 2012, with an average
Avenue. Action Housing completed its conversion of
sales price of $320,493. The average sales price per
1819 Forbes Avenue in Uptown, creating 43 affordable
square foot was $235, increasing 8.2% from 2012,
units specifically for the deaf and blind communities.
with an average unit size of 1,281 square feet. The
The Standard Life building at 345 Fourth Avenue,
condominium market remains limited with only two
previously used as student housing for the Art
projects proposed for a combined 16 new units and
Institute of Pittsburgh, was sold and converted into 33
few new units remaining at Piatt Place, Three PNC,
mostly two-bedroom apartments.
The Carlyle, Otto Milk Lofts, and 151 Firstside.
The occupancy rate of Greater Downtown apartments
Though difficult to tell from the rapid growth of
at the end of 2013 was 95.6% compared to 95.9% a
the residential sector, developers and managers
year earlier. The average rental rate per square foot
are experiencing hesitation from potential renters
was $1.82 compared to $1.64 at the end of 2012. The
based on the lack of available parking for tenants
strength of the market is bolstered considering 195
in Downtown. The 2012 Downtown Resident Survey
new units entered the market in 2013, two-thirds of
showed that while 45.5% of residents walk to work,
which were in the third quarter.
42.1% still use a personal vehicle for commuting and
business purposes. Additionally, 59% of residents
A number of conversion projects are underway and are
have a parking lease in a Downtown garage. The
expected to bring over 500 units to the market in the
relationship between parking needs and residential
next 12 months. The Clark Building, the most recent
growth should be further evaluated in order to
project by PMC Property Group, will begin occupancy
continue the development momentum.
of its 228 units in May 2014 and will then shift efforts
to the Regional Enterprise Tower, expected to open
the first of 220 units on the top 15 floors by the end of
the year.
15
Occupancy Rate for Greater
Downtown Apartments
Average PRICE PER Square Foot for
Greater Downtown Apartments
100%
$1.90
98%
$1.80
95.6%
96%
94%
$1.82
$1.70
$1.60
93%
$1.50
2Q13
4Q13
2Q12
4Q12
2Q11
4Q11
4Q10
2Q10
4Q09
2Q09
4Q08
2Q08
2Q07
2Q13
$1.36
4Q13
2Q12
4Q12
4Q11
2Q11
4Q10
2Q10
4Q09
2Q09
4Q08
$1.30
2Q08
88%
4Q07
$1.40
2Q07
90%
4Q07
92%
Source: Pittsburgh Downtown Partnership
Top 10 Condominium Sales in 2013 for Greater Downtown
Property
Square Feet
Sale Price
Price/Square Feet
Quarter
151 First Side
2,071
$1,200,000 $579 Q4
Gateway Towers
1,400
$810,000 $579 Q2
Otto Milk
1,619
$755,000 $466 Q4
3 PNC
1,775
$685,000 $386 Q3
151 First Side
2,102
$660,000 $314 Q1
Piatt Place
1,656
$600,000 $362 Q2
3 PNC
1,775
$580,000 $327 Q3
Gateway Towers
1,400
$549,000 $392 Q1
3 PNC
1,775
$545,000 $307 Q3
Gateway Towers
2,951
$375,000 $127 Q2
Note: Three PNC Plaza condominium sales are raw space.
Source: Western Pennsylvania Multi-List Service – Provided by Kathy Wallace
Average SALES PRICE/Square Foot for
Greater Downtown Condominiums
$350
$300
$268.32
$283.72
$250
740
$150
$100
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
1Q13
2Q13
3Q13
4Q13
NEW APARTMENT UNITS HAVE OPENED
SINCE THE BEGINNING OF 2010
$200
Source: Western Pennsylvania Multi-List Service – Provided by Kathy Wallace
16 2014 State of Downtown Pittsburgh
Greater Downtown Residential
Units added by decade
Net Growth of total Greater
Downtown Residential Units
5,000
3,500
4,000
2,229
4,000
3,000
3,000
2,000
1,000
1,500
0
823
645
432
373
884
500
517
2,000
1,293
2,500
1,000
4,450
884
19601970 1980 1990 20002010-13
Source: Pittsburgh Downtown Partnership
0
60s 70s80s90s00s 10s
Under Construction
Completed
Proposed
Sources: Pittsburgh Downtown Partnership
greater downtown population
Greater Downtown Total
9,736
11,167
7,538
10,000
7,160
12,000
12,343
7,938
14,000
GREATER DOWNTOWN
RESIDENTIAL PIPELINE
Under Construction
Units
Area
Clark Building
228
Golden Triangle
Regional Enterprise Tower
220
Golden Triangle
121 Seventh Street
41
Golden Triangle
Lando Lofts
28
Golden Triangle
Total517
Proposed
UnitsArea
Cultural Trust SIte
200
Golden Triangle
100
Golden Triangle
34
Golden Triangle
6,000
422 First Avenue
30
Golden Triangle
4,000
819-823 Penn Avenue
30
Golden Triangle
4,405
200 Ross Street
711 Penn Avenue
8,000
Strip District
299
Strip District
Wholey Building Conversion 144
Strip District
1100 Smallman
59
Strip District
Hammel City Homes
11
Strip District
1135 Penn Avenue
5
Strip District
Lower Hill Development
800
Lower Hill
Greater Downtown consists of:
Golden Triangle – Central Business District
Neighboring Areas – Bluff; North Shore; South Shore; Strip District
Dinwiddie Street 70
Lower Hill
Uptown Lofts
47
Uptown
Census Tracts:
2000: 103; 201; 203; 1921; 2205
2010: 103; 201; 203; 5632-1; 9812; 9807
Total2,229
The 2000 population statistics above corrects a previous U.S. Census error in
which the Allegheny County Jail population was incorrectly attributed to
Census Tract 201 (CBD) instead of Census Tract 103 (Bluff).
Source: Pittsburgh Downtown Partnership
0
2000
Golden Triangle
3,629
400
Three Crossings
2,576
Buncher Development
2,000
2010
2013
Neighboring Areas
The 2013 Greater Downtown population totals are conservatively calculated by
market growth and occupancy rate estimates.
Sources: 2000 & 2010 Census, U.S. Census Bureau;
Pittsburgh Downtown Partnership
17
Golden Triangle Reported
Crime Occurrences
Population 25 & Over with a
Bachelor’s Degree or More
140
120
20%
100
15%
80
10%
60
Population 25 & Over with a
GRADUATE DEGREE
2011
2012
DEC
NOV
OCT
SEP
AUG
JUL
JUN
MAY
APR
40
MAR
U.S.
62
JAN
CBD Greater
City of Allegheny
DowntownPittsburgh County
79
FEB
28.5%
25%
160
35.1%
30%
35%
33.4%
35%
180
37.7%
40%
2013
Source: Bureau of Police, City of Pittsburgh
5%
10.6%
10%
14.3%
17.1%
15%
17.9%
20%
22.6%
25%
0%
CBD Greater
City of Allegheny
DowntownPittsburgh County
U.S.
517
RESIDENTIAL UNITS UNDER
CONSTRUCTION
MEDIAN HOUSEHOLD INCOME
$20
$53,046
$50,664
$30
$38,029
$40
$42,714
$ Thousands
$50
$50,809
$60
Greater Downtown Residential Units
$10
$0
CBD Greater
City of Allegheny
DowntownPittsburgh County
Source: 2008-2012 American Community Survey 5-year Estimates,
U.S. Census Bureau
18 2014 State of Downtown Pittsburgh
by the numbers
U.S.
4,450
% Units Built after 2000
47.5%
Apartment Occupancy Rate
95.6%
Average Rent – 1 Bedroom Apartment
$1,455
Average Rent – 2 Bedroom Apartment
$1,887
Average Condo Sales Price
$320,493
2013 Population
Sources: Pittsburgh Downtown Partnership; 2010 Census, Us. Census
Bureau; Western Pennsylvania Multi-List Service
12,343
1100 SMALLMAN STREET
The prominently located building will be visible from
multiple vantage points and will include bold colors on
In October 2013, Schreiber Real Estate announced
a backdrop of white, intended to mimic the neighboring
plans to build a six story apartment building on top
convention center. The apartment complex is adjacent
of and behind an existing building at 1100 Smallman
to another recently announced residential project
Street, converting underutilized first floor space into
at 1135 Penn Avenue. Front Studios and MM Marra
the building’s entrance. The 59 unit complex will be
Construction are planning five 2,000 square feet
comprised of one and two bedroom units on top of 60
condominiums of which two have pre-sold.
parking spaces, with all units featuring balconies from
which views of the Allegheny River and Downtown can
Whereas much of the recently announced and
be enjoyed.
completed residential development in the Strip District
is between 17th and 27th Streets, these two projects
begin to bridge the gap between the Strip and the
Golden Triangle.
S P OT L I G H T
19
2014 State of Downtown Pittsburgh
R E S TAU R A N T S
& R E TA I L
20
In the spring of 2013 the Pittsburgh Downtown
Construction and development activity aims to add
Partnership, in coordination with the Urban
136,000 square feet of retail space to the Downtown
Redevelopment Authority, conducted a survey
market in the next 18-24 months. Of projects currently
of all Downtown street-level retail in an effort to
under construction, the Gardens at Market Square has
establish retail occupancy and rental data. Data
leased over 60% of its 14,500 square feet and North
from the survey was then provided to CoStar Group,
Shore Place has leased the majority of its 40,000
creating a clearinghouse of accurate Downtown
square feet of retail space. A joint venture between
retail data that could then be updated by the
McKnight Realty Partners and Millcraft Investments
brokerage community and overseen by the online
is planning 60,000 square feet of retail space in 350
listing service. The updated data shows a Downtown
Oliver, a parking and retail project replacing the former
Pittsburgh retail vacancy rate of 10%, compared to
Saks Fifth Avenue.
6.6% for CBDs nationwide. Additionally, a national
retail report prepared by Marcus & Millichap Real
Highwoods Properties is repositioning 27,000
Estate Investment Services notes a Pittsburgh metro
square feet of underutilized retail space in PPG Place
retail vacancy rate at 3.9% compared to the national
including the 15,000 square foot Wintergarden. The
average of 7.2%.
property owner announced Five Guys Burgers will
open in mid-2014 and is creating opportunities for
Restaurants and dining establishments still dominate
street-level restaurants that activate the PPG quadrant
the Downtown Pittsburgh retail market. The Pittsburgh
of Market Square. PMC Property Group is planning to
Business Times highlighted findings of a 2013 report
add 6,000 square feet of retail to the first floor of the
titled “The Big Business of Small Merchant Restaurant
Regional Enterprise Tower. The Pittsburgh History &
Brands” that ranked Pittsburgh as the fourth fastest
Landmarks Foundation continues to market its newly
growing market in the U.S. based on small restaurant
renovated storefronts at 419-421 Wood Street with
sales. The report also noted that local small restaurant
2,000 square feet available.
spending in Pittsburgh increased by 11% compared to
2012. Such growth in the local market has undoubtedly
The PDP and URA collectively assisted with 12 façade
impacted restaurant expansions in Downtown
improvement and streetfront activation projects in
Pittsburgh.
2013 through their grant programs. Approximately
$300,000 in façade grants supported nearly $1 million
Notable full-service restaurant openings in 2013
in private investment in 2013. The programs encourage
include Il Pizzaiolo in Market Square, Grit and Grace on
the preservation and improvement of storefronts and
Liberty Avenue, Butcher and the Rye on Sixth Street,
enliven the streets of Downtown Pittsburgh.
and Ten Penny on Penn Avenue. Additionally, Bluebird
Kitchen expanded its Downtown presence with a new
location on Stanwix Street, and Penn Station Subs
opened its first Downtown location on Liberty Avenue.
Vallozzi’s changed the format of the neighboring
grab-and-go spot and opened Toss’t, a made-toorder salad venue. The Vallozzi’s and Ralph Falbo
announced plans to open an upscale grocery market
in the Thompson Building on Market Street, styled and
stocked similarly to Dean and Deluca’s, with plans to
open in the summer of 2014.
21
RETAIL VACANCY RATES, 2013
Peer CBD Retail OCCUPANCY &
Rental Rates, 2013
12
PITTSBURGH
2
90%
$13.61
95.4%
BALTIMORE
3.9%
4
6.6%
6
7.2%
8
0 20 40 60 80100
10%
10
$19.18
AUSTIN
0
94.5%
$18.35
CBD Pittsburgh U.S. CBD
U.S.
Metro AverageAverage
ST. LOUIS
92.8%
$12.13
Sources: CBD and U.S. CBD Average - CoStar Group; Pittsburgh Metro and U.S.
Average - 2014 Real Estate Investment Research, Marcus & Millichap
CHARLOTTE
91.9%
$13.56
KANSAS CITY
91.8%
$12.26
COLUMBUS
91.7%
$11.34
CINCINNATI
91.3%
$12.29
54, 50 0
CLEVELAND
SQUARE FEET OF RETAIL SPACE
IS UNDER CONSTRUCTION
91.3%
$12.29
Occupancy
Asking Rent ($/sq. ft.)
Source: CoStar Group
Greater Downtown
Retail Pipeline
Sq. Ft.
Status
North Shore Place
40,000Under
Construction
The Gardens at
14,500Under
Market SquareConstruction
350 Oliver Avenue
40,000Proposed
350 Fifth Avenue
15,000Proposed
PPG Wintergarden
15,000Proposed
Regional Enterprise Tower6,000
Proposed
Salvation Army Building6,000 Proposed
Total136,500
Source: CBRE, Pittsburgh Downtown Partnership
22 2014 State of Downtown Pittsburgh
12
RESTAURANTS OPENED IN 2013
GREATER DOWNTOWN DINING
ESTABLISHMENTS, 2013
GREATER DOWNTOWN RETAIL
ESTABLISHMENTS, 2013
1.6%
4.7% 2.1%
5.1%
6.6%
5.6%
21.4%
11.6%
42.2%
5.6%
8.5%
15.8%
9%
38%
9%
13.2%
FULL SERVICE
RESTAURANTS (109)
HEALTH, BEAUTY & FITNESS (50)
QUICK SERVICE
RESTAURANTS (98)
JEWELRY & WATCHES (31)
COFFEE SHOPS (30)
BARS & NIGHTLIFE (17)
BAKERIES (4)
Source: Dining Guide, Pittsburgh Downtown Partnership
APPAREL (37)
HOME & GIFTS (21)
OTHER (21)
CONVENIENCE & NEWS (20)
FOOD & BEVERAGE (13)
OPTICAL (13)
MUSIC & ELECTRONICS (12)
ART, ANTIQUES & HOBBIES (11)
BOOKS (5)
Source: Shopping Guide, Pittsburgh Downtown Partnership
$10 8
WHAT THE AVERAGE PEDESTRIAN
SPENDS PER WEEK ON SHOPPING,
DINING, ENTERTAINMENT, SPORTING
EVENTS, AND SERVICE PROVIDERS IN
DOWNTOWN PITTSBURGH
Pittsburgh Downtown Partnership
23
AVERAGE DAILY PEDESTRIAN ACTIVITY
60,000
6,051
5,036
12,863
14,497
19,218
18,307
16,748
16,629
17,722
9,973
19,172
9,758
30,083
31,850
27,966
28,832
47,978
22,244
10,000
22,172
26,334
15,633
20,000
14,315
30,000
33,124
40,000
45,570
50,000
2006
2008
2010
Intersection
of Wood and
Boulevard of
the Allies
Intersection
of Penn and
Sixth St.
900 Block
of Liberty
Intersection
of Penn and
Ninth St.
Intersection
of Smithfield
and Fifth St.
Market
Square
200 Block
of Fifth Ave.
0
2012
Note: Intersections of Penn and Sixth Street and Wood and Boulevard were only
counted in 2010 and 2012.
Source: 2012 Downtown Pedestrian Traffic Study,
Pittsburgh Downtown Partnership
BY THE NUMBERS
Number of Dining Establishments
258
Number of Retail Establishments
234
Average Pedestrian Weekly Spending
Average Retail Vacancy Rate
Average Rent per Square Foot
Restaurants with Outdoor Seating
Sources: CoStar Group; Pittsburgh Downtown Partnership
24 2014 State of Downtown Pittsburgh
$108
10%
$13.61
62
S P OT L I G H T
M E L L O N S Q U A R E R E TA I L
The Pittsburgh Parks Conservancy, in collaboration
with the Pittsburgh Parking Authority and the City of
Pittsburgh, has taken the lead on conceptual plans to
reactivate the Smithfield Street-level storefronts and
perimeter of Mellon Square. A study commissioned by
Additional plans include design standards to align
the Conservancy describes design enhancements to
the interior retail spaces with the vision of Smithfield
the retail spaces and additional pedestrian and public-
Street as a world-class urban corridor. Another area of
realm improvements along Sixth and Oliver Avenues,
improvement would focus on pedestrian movements
William Penn Place, and Smithfield Street.
into and out of the parking garage and additional bike
parking in underutilized spaces. Pedestrians would
Preliminary designs recommend a glass wall along
also enjoy restored sidewalks, with amenities such as
the street level supporting the original design intent
banners, planters, and seating.
of the storefronts, allowing uninterrupted visibility
between the indoors and outdoors. Design features
The Conservancy is currently fundraising to
such as era-appropriate signage and lighting are
implement the interpretive wall and storefront signage
to be incorporated. The Conservancy will create an
improvements with the goal of beginning storefront
interpretive wall showcasing the historical significance
improvements within the next 12 months. Other aspects
of Mellon Square.
of the project would be led by the public sector.
25
2014 State of Downtown Pittsburgh
CULTURE,
E N T E R TA I N M E N T
& HO T E L S
26
The entire region benefited from $7.5 billion in visitor
The Pittsburgh Pirates had a winning season for the
spending throughout Greater Pittsburgh in 2012, the
first time in twenty years and played post-season
most recent data available. Influencing 2013 visitor
baseball for the first time in PNC Park, leading to a
spending, artist Florentijin Hofman’s The Rubber
13.7% increase in attendance in 2013 to 2,378,331. Total
Duck Project, brought to Pittsburgh as a part of the
attendance at Consol Energy Center in 2013 increased
Pittsburgh Cultural Trust's International Festival of
by 44.4% compared to 2012 which was affected by
Firsts, attracted more than a million people to the
the NHL lockout. The NCAA Frozen Four drew over
riverfront during its three week stay in the fall of
32,000 people to Consol Energy Center during the
2013. Efforts like the duck, Dollar Bank Three Rivers
two-day event in 2013 with an economic impact of
Arts Festival, and the Peoples Gas Holiday Market™
$11.6 million. In 2013, the Pittsburgh Riverhounds
continue to bring hundreds of thousands of people
opened a new professional soccer stadium at Station
into Downtown throughout the year. The Greater
Square attracting over 58,000 visitors in its first full
Pittsburgh Arts Council calculates that Allegheny
year of operation. The Pittsburgh Marathon, beginning
County ranks seventh nationally in jobs created
and ending in Downtown Pittsburgh, with over 22,000
through arts and cultural organizations. These
runners, generated $8.3 million for the region with
organizations and their audiences have an annual
maximum occupancy at all Greater Downtown hotels.
total economic impact of $1.17 billion county-wide.
In 2013 the Pittsburgh region hotel market remained
Downtown performing arts and entertainment
ahead of its peers and other large cities with a yearly
venues held a combined 2,181 events in 2013 with a
average hotel occupancy rate of 66.1% compared to
total attendance of 1,418,539, holding steady when
a national average of 62.3%. In Greater Downtown,
compared to 2012 data, not including attendance
occupancy peaked at 78% in August and averaged
numbers for the August Wilson Center in 2013.
66.7% for the entire year. Though occupancy was
Gallery attendance was 9.5% higher in 2013 with
down slightly by .6% year over year, the average
57,600 guests at 32 exhibitions, while Greater
revenue per available room was $1.67 higher in 2013
Downtown museum attendance increased 7.8%
at $103.60, peaking at $131.32 in September.
to 1,312,387 in 2013. Though the story of arts and
entertainment in Downtown is generally good,
This strong market has sparked a surge in hotel
questions remain regarding the future of one of
investments and will result in rapid growth of the
Downtown’s newest cultural venues, the August
Downtown hotel market in 2013. PMC Property
Wilson Center for African American Culture.
Group, in a joint venture with Kimpton Hotels, started
construction on a new 247-room Hotel Monaco
The Senator John Heinz History Center invested $6
at 435 Sixth Avenue, the first of its kind in western
million in the Smithsonian-standard Museum Support
Pennsylvania, and McKnight Realty Partners began
Center on Penn Avenue. The building is physically
demolition and construction of a new 240-room
connected to the History Center and will serve as
Embassy Suites on the top half of the 25-story
storage for its artifact collection and provide leasable
building at 535 Smithfield Street. Walnut Capital
storage for other museums.
started site preparation for the construction of a 150room Homewood Suites by Hilton at 1400 Smallman
The David L. Lawrence Convention Center hosted 201
Street, and Millcraft Investments broke ground for the
events in 2013 representing a 5% increase, while total
Gardens at Market Square that includes a 198-room
attendance of 631,004 decreased by 9% compared
Hilton Garden Inn. An additional 656 rooms are in the
to 2012. The LEED EBOM-certified center hosted
development pipeline, including a 180-room Drury Inn
the Association of Iron and Steel Technology and
and Suites in the former Federal Reserve Building at
American Association of Petroleum Geologists with
717 Grant Street, for a total of 1,491 new hotel rooms
25,000 and 18,200 attendees, respectively, and all
or a 32.6% increase.
events support the regions’ hotels, hospitality, arts and
entertainment venues.
27
hotel occupancy – pittsburgh market vs. competitive set, 2013
60.6%
58%
62.4%
62.3%
Louisville
Cincinnati
Comp Set Average
National Average
61.4%
61.5%
Milwaukee
Indianapolis
61.8%
Columbus
61.4%
62.4%
Columbus
Detroit
50%
Cleveland
63.6%
64.3%
Charlotte
Baltimore
65.3%
Philadelphia
60%
66.1%
70%
40%
20%
10%
0%
Pittsburgh
30%
Source: Smith Travel Research – Provided by VisitPittsburgh
Greater downtown hotels & meeting space
Existing Hotels in
Greater Downtown
Room
Meeting
Inventory Space Sq Ft
Cambria Suites Pittsburgh at at Consol
142
–
Courtyard Pittsburgh Downtown
182
1,130
Doubletree by Hilton Hotel &
Suites Pittsburgh City Center
337
5,465
Fairmont Pittsburgh
185
5,474
Hampton Inn & Suites Downtown
143
–
Hyatt Place Pittsburgh – North Shore 178
1,700
Omni William Penn Hotel
596
52,000
Pittsburgh Marriott City Center
402
9,100
Renaissance Pittsburgh Hotel
300
10,000
Residence Inn Pittsburgh –
North Shore
180
742
Sheraton Station Square Hotel
399
9,750
Springhill Suites Pittsburgh –
North Shore
198
–
The Westin Convention Center Hotel 616
17,784
Wyndham Grand Pittsburgh
Downtown
712
17,200
4,570
147,065
Total Existing
28 2014 State of Downtown Pittsburgh
Planned Hotels in
Greater Downtown
Room
Inventory
Status
Hotel Monaco
247
Under Construction
Embassy Suites
240
Under Construction
Hilton Garden Inn
198
Under Construction
Homewood Suites
by Hilton
150
Under Construction
Drury Hotel and Suites
180
Proposed
Former Salvation
Army Building
176
Proposed
Holiday Inn Express –
Federal Street
135
Proposed
Granite Building
90
Proposed
Holiday Inn - First Avenue
75
Proposed
Total Planned
1,491
Source: Pittsburgh Downtown Partnership, VisitPittsburgh
greater downtown hotel occupancy
90%
80%
70%
60%
50%
50.8%
47%
40%
JAN FEB MAR APR MAY JUN JUL AUGSEPTOCTNOVDEC
2011
2012
2013
Source: Smith Travel Research – Provided by VisitPittsburgh
GREATER DOWNTOWN HOTEL AVERAGE DAILY RATE
$180
$160
$140
$144.40
$141.55
$120
$100
JAN FEB MAR APR MAY JUN JUL AUGSEPTOCTNOVDEC
2011
2012
2013
Source: Smith Travel Research – Provided by VisitPittsburgh
1, 49 1
NEW HOTEL ROOMS IN THE
DEVELOPMENT PIPELINE
Pittsburgh Downtown Partnership
29
Greater Downtown Sports Venue Events & Attendance
Consol Energy Center
2011
Pittsburgh Penguins Games
41 27 54
754,592 501,685 1,003,421
79 80 76
589,400 602,442 591,554
1,343,992 1,104,127 1,594,975
Pittsburgh Penguins Attendance
Other Events
Other Event Attendance
Total Attendance
Heinz Field 2011
Pittsburgh Steelers Games
Pittsburgh Steelers Attendance
20122013
8
8
8
504,279 489,135
458,489
8
6
7
368,022
248,964 348,188
4
1
2
234,381 51,043 103,908
1,106,682 789,142 910,585
Pittsburgh Panthers Games
Pittsburgh Panthers Attendance
Other Events
Other Event Attendance
Total Attendance
20122013
Highmark Stadium
2011
20122013
Pittsburgh Riverhounds Games
–
–
16
Pittsburgh Riverhounds Attendance
–
–
48,000
Other Events
–
–
22
Other Event Attendance
–
–
10,350
Total Attendance
–
–
58,350
PNC Park
2011
Pittsburgh Pirates Games
20122013
80 80 80
Pittsburgh Pirates Attendance
1,940,429 2,091,918 2,256,862
Total Attendance
1,940,429 2,091,918 2,378,331
Total Attendance
4,391,103
3,985,187
4,942,241
Sources: Consol Energy Center, Highmark Stadium, Pittsburgh Pirates, Pittsburgh Steelers, University of Pittsburgh
Greater downtown Museum Attendance
2011
20122013
Attendance
Attendance
Attendance
Andy Warhol Museum
118,971 88,826 119,156
Carnegie Science Center/Highmark SportsWorks
490,500
512,800
511,800
Children's Museum of Pittsburgh
244,694 255,178 269,415
Fort Pitt Museum
21,702 27,566 40,474
Mattress Factory
65,000
73,000
70,000
National Aviary
120,816 115,859 135,778
Senator John Heinz History Center
165,361 The ToonSeum
12,000 12,000 8,500
1,239,044 1,289,923
1,390,887
Total Attendance
204,694
235,764
Sources: Carnegie Science Center, Children’s Museum of Pittsburgh, Fort Pitt Museum, Mattress Factory, National Aviary, Senator John Heinz History Center, The Warhol
30 2014 State of Downtown Pittsburgh
Greater downtown PERFORMING ARTS & ENTERTAINMENT VENUES
2011 20112012 201220132013
EventsAttendance
EventsAttendance
EventsAttendance
August Wilson Center
180
33,560
122
32,142
Benedum Center
257
648,725 265
565,392
235
500,228
59
3,869
46
3,956
Bricolage Production Company
Byham Theater
163
149,673 139
100,023
141
111,531
Cabaret at Theater Square
415
92,049 383
98,624 313
77,933
500
14,100 512
13,958 487
17,600
163
327,540 156
287,259 171
314,735
Harris Theater
Heinz Hall
New Hazlet Theater
188
28,518 142
21,850 137
28,176
230
80,423 221
67,616 236
75,342
Pittsburgh Playwrights Theatre 60
3,400
60
3,000 48
3,400
Stage AE
172
252,000 168
256,000 171
269,300
300
9,000 77
8,600 196
16,809
O'Reilly Theater
Trust Arts Education Center
Totals
2,632 1,639,588
2,304 1,458,333
2,1811,418,539
Sources: August Wilson Center, Bricolage Production Company, New Hazlet Theater, Pittsburgh Ballet Theatre, Pittsburgh CLO, Pittsburgh Cultural Trust, Pittsburgh Filmmakers,
Pittsburgh Symphony Orchestra, Pittsburgh Playwrights Theatre, Pittsburgh Public Theater, Pittsburgh Opera, Stage AE
Greater downtown ART Gallery exhibitions & Attendance
2012 2012
20132013
Exhibitions Attendance
ExhibitionsAttendance
707/709 Penn Gallery
7
9,543 7
7,785
Future Tenant: A Space For Art
5
8,000 15
9,634
SPACE Gallery
5
16,111 6
18,145
Wood Street Galleries
4
18,939 4
22,036
Total
21 52,593
3257,600
Source: Pittsburgh Cultural Trust
4 . 9 MIL L ION
SPORTS EV ENT ATTENDEES IN 2013
Pittsburgh Downtown Partnership
31
Economic Impact of Greater Downtown Arts
Total Economic
Total Full
Impact
Time Equivalents
$276,098,273
8,248
Household
Income
Generated
$168,661,231
Local
State
Tax Revenues
Tax Revenues
GeneratedGenerated
$12,534,849 $16,796,888
Source: Greater Pittsburgh Art Council
DAVID L. LAWRENCE CONVENTION
CENTER TRADE SHOWS, EVENTS
& ATTENDANCE
2011 20122013
Events
185 191201
Attendance
506,118 458,283415,842
Total Visitors
760,106 695,055631,004
Source: David L. Lawrence Convention Center
BY THE NUMBERS
Sports Venue Attendance
4.9M
Performing Arts, Museum & Gallery Attendance 2.8M
Economic Impact of Arts and Culture
$276M
Existing Hotel Rooms
4,570
Planned Hotel Rooms
1,491
Sources: Arts/Entertainment/Sports Venues, Greater Pittsburgh Arts Council,
Pittsburgh Downtown Partnership, VisitPittsburgh
32 2014 State of Downtown Pittsburgh
S P OT L I G H T
E C O N O M I C I M PAC T O F A R T S
The Greater Pittsburgh Arts Council released a
report titled Arts, Culture & Economic Prosperity that
detailed the sizeable impact that the arts sector has
in Allegheny County and the region. Using this report
as a starting point, GPAC collaborated with the PDP
to expound upon the initial report and its economic
impact calculator tool to calculate the impact of 36
arts and culture organizations in Greater Downtown.
The organizations’ annual expenditures on salaries and
benefits, physical plant, programs, communications, and
professional services totaled $166.4 million. Spending
last year by these organizations' 5.7 million attendees
on event-related items such as meals, souvenirs,
transportation, and lodging totaled $109.7 million.
Total combined spending by these arts and culture
organizations and their audiences was $276.1 million.
These Greater Downtown statistics equate to
8,248 full-time equivalent jobs (4 out of 5 outside
of the arts) and $168 million in household income.
Additionally, local and state tax revenue from these
activities surpassed $29.3 million in 2013 from taxes on
property, sales, fees, licenses, and utilities.
In addition to the 36 arts and culture organizations
studied in this analysis, PDP and GPAC hope to also
study the impact of large-scale events such as the
Three Rivers Arts Festival, PrideFest, International
Festival of Firsts, Light Up Night, the Downtown
Pittsburgh Holiday Market, and First Night in the
coming years.
33
2014 State of Downtown Pittsburgh
T R A N S P O R TAT I O N
& C ON N E C T I V I T Y
34
Presumably the most important news for the
Of the 22 Greater Downtown parking garages with
transportation sector in the Commonwealth of
ParkPGH real-time capacity monitoring, approximately
Pennsylvania in 2013 was the passage of Act 89,
20% of the 15,000 total spaces are available at peak
estimated to put $2.3 billion per year into statewide
hours. With the anticipated reduction of parking
transportation needs by 2017. Western Pennsylvania
spaces along the perimeter of Downtown caused by
has much to gain from this influx of funding including
ongoing development in the Lower Hill, Strip District,
improvements to roadway infrastructure and bridges
and North Shore, additional structured parking will
as well as much needed sustainable support for
become available in the next few years. Millcraft
public transportation. Locally, the Port Authority of
Investments has broken ground on 330 spaces at The
Allegheny County has the potential to benefit the
Gardens at Market Square project and is finalizing
most from the additional funding by improving service,
plans with McKnight Realty Partners to construct 450
maintaining and addressing infrastructure needs.
spaces at the 350 Oliver project.
Port Authority bus ridership decreased 3.3% in 2013
Pittsburgh International Airport passenger traffic
and light rail ridership increased by 7.5%, purportedly
decreased 2% in 2013, however the Allegheny County
due to the North Shore Connector. While North Shore
Airport Authority worked to increase the number of
Connecter ridership is not available, one indicator of
direct flights to business and leisure cities such as
its success is seen by an average increase of 1,000
Houston, Los Angeles, Nashville, Orlando, and Punta
cars per day parking in the North Shore lots and
Cana. The Airport Authority executed a gas drilling-
garages, allowing commuters to park at a lower rate
rights agreement with Consol Energy, paying the
and taking the free transit ride to Downtown.
Authority an upfront fee of $50 million and future
royalties that will reduce gate fees in an effort to
The Institute for Transportation and Development
attract increased air service at PIT.
Policy awarded the Martin Luther King Jr. East Busway
a bronze standard rating, one of only four issued in
Weekly Amtrak ridership from the Downtown
the United States. The award noted the Busway’s
Pittsburgh station increased by 4.5% to 2,599 as the
dedicated bus-only lanes, passing lanes at stations,
total Pittsburgh ridership of 135,137 increased 4.5% over
high frequency service during peak times, and usage
2012. The Pennsylvanian route, originally slated to be
of multiple routes. Recognition of the Busway’s
discontinued after 2013, will continue its operation with
success complements planning activities for the
$3.8 million in state funding required by federal law.
Downtown to Oakland Bus Rapid Transit system.
The PDP, Oakland Business Improvement District, and
The transit agency is piloting real-time tracking of East
North Side stakeholders are leading efforts to create
Busway routes with the intention of a system wide
a comprehensive pedestrian wayfinding system for
rollout by the end of 2014. A circulation study for bus
the three neighborhoods that can be replicated and
traffic in Downtown was initiated in 2012 and efforts
adapted in other neighborhoods throughout the city.
are expected to continue through 2014. Conceptual
The design and siting process will be completed in
planning and discussions continue for the BRT corridor
2014 as funding commitments from the public and
between the region’s largest employment centers,
private sectors is pursued in order to implement the
Downtown and Oakland.
comprehensive system.
35
Annual Port Authority Ridership
Bus
Rail
PIT Airport Passenger Traffic
Total
Incline
2009 57,632,643 7,149,450702,740 65,484,833
201055,290,371 7,012,931 644,98662,948,288
2011 53,926,4726,751,023627,530 61,305,025
8,800,000
8,673,014
8,600,000
2012 54,713,327 7,739,265736,172 63,188,764
8,400,000
2013 52,868,2688,321,956794,185 61,984,409
8,200,000
8,000,000
7,600,000
20082009 2010 2011 2012 2013
177,821
138,609
184,104
139,723
136,857
181,860
Source: Allegheny County Airport Authority
132,152
145,000
187,782
165,000
139,918
Bus
195,853
205,000
185,000
7,854,181
7,800,000
Average Weekday & Weekend
Port Authority Ridership
125,000
20092010 2011 2012 2013
18,266
27,144
14,516
12,030
12,271
14,000
23,883
24,741
18,000
12,661
Rail
22,000
25,270
26,000
28,735
30,000
10,000
20092010 2011 2012 2013
$2 . 3 billion
ACT 89 WILL PROVIDE $2.3
BILLION PER YEAR IN STATE-WIDE
TRANSPORTATION NEEDS BY 2017
5,474
6,000
1,951
4,166
1,991
4,016
1,609
2,000
4,054
3,000
1,677
4,727
4,000
1,764
Incline
5,000
1,000
20092010 2011 2012 2013
Weekday Ridership
Weekend Ridership
Source: Port Authority of Allegheny County
36 2014 State of Downtown Pittsburgh
780
STRUCTURED PARKING SPACES
UNDER DEVELOPMENT
AMTRAK RIDERSHIP –
DOWNTOWN PITTSBURGH
2011 20122013
Total Boardings/Alightings 133,855 129,372135,137
Average Weekly Ridership 2,570 2,4882,599
S P OT L I G H T
Source: Amtrak
DOWNTOWN PITTSBURGH WALK SCORE
Walk Score | 98
PORT AUTHORITY PLANS
Walker's Paradise; Daily errands do not require a car
Transit Score | 99
The Port Authority of Allegheny County is
Rider’s Paradise; World-class public transportation
working on two ongoing projects in an effort
Bike Score | 73
to increase efficiencies for riders.
Very Bikeable; Biking is convenient for most trips
Allegheny County, the City of Pittsburgh,
Source: Walkscore.com
and the Port Authority continue feasibility
planning for a Bus Rapid Transit line between
Downtown and Oakland along the Fifth and
Forbes corridor. Though final alignments
BY THE NUMBERS
have yet to be determined, this linkage will
provide more efficient connectivity along the
Number of Off-Street Spaces 39,991
Number of On-Street Metered Spaces Average Lease/Daily/Evening Rates 497
$235/$14/$7
Number of Zipcars 21
Direct Destinations via Air 37
Direct Destinations via Bus 28
Direct Destinations via Train 9
busiest transit corridor in Pittsburgh with the
potential to reduce travel time by 39%.
Additionally, the Port Authority is pilottesting GPS technology on two East Busway
routes that provides real-time tracking
of buses. The transit system intends to
implement the technology on all bus routes
by the end of 2014. The technology allows
riders to select routes and stations in order to
obtain projected arrival times for the next few
Sources: Allegheny County Airport Authority; Amtrak; Greyhound; Mega Bus;
Pittsburgh Downtown Partnership; Pittsburgh Parking Authority
buses, while being able to pinpoint the bus’s
actual location. Port Authority intends to
implement the same technology for the Light
Rail Transit system in a later phase.
Pittsburgh Downtown Partnership
37
2014 State of Downtown Pittsburgh
E n v i ron m e n t &
S u s ta i n a b i l i t y
38
Downtown Pittsburgh’s 5.2 million square feet of
In an effort to complement the built environment, the
Energy Star certified space is an attractive asset to
Western Pennsylvania Conservancy continues to be
businesses and investors who care about energy
instrumental in beautifying Downtown’s streetscape. In
efficiency and high-performing buildings. Accolades
2013, the Conservancy placed nearly 600 sidewalk and
such as the world’s largest green convention center
screening planters and 440 hanging baskets providing
and world’s greenest skyscraper have a shelf life
greenery and flowers to enliven the environment.
in a fast-paced world economy that continuously
Additionally, over 4,000 annual flowers were planted
improves building standards and techniques.
at two Downtown gardens at Grant Street and First
Developers, property owners, and civic leaders must
Avenue and Liberty Avenue and Commonwealth
remain committed to Energy Star and LEED practices
Place. The Conservancy’s annual investment in these
and to creating accessible outdoor spaces in order
endeavors is approximately $450,000.
for Downtown to remain competitive in the global
market place.
The Conservancy and Treevitalize oversaw the planting
of 375 trees in the CBD in the last five years, including
To that charge the Pittsburgh 2030 District, a
15 in the ALCO Parking lot at Seventh Street and Fort
project of Green Building Alliance, is working with
Duquesne Boulevard. An additional 1,400 perennials
Downtown property owners to track energy, water,
were planted at the parking lot, joining Pittsburgh’s
and transportation usage in an effort to reduce total
first trellis-style green wall that was added in 2012. In
consumption by 50% in the year 2030. Pittsburgh was
November 2013, Treevitalize planted its 20,000th tree
the third city to sign on to the 2030 challenge behind
since 2008 in the Fort Pitt Bridge off-ramp median.
Seattle and Cleveland with Los Angeles and Denver
joining more recently.
The June opening and dedication of the restored
fountain at Point State Park officially brought to
In the first year and a half of the District, property
an end the seven year reconstruction project, fully
owners reporting energy usage have made sustainable
opening the 36-acre park. Riverlife completed the first
progress towards its goals. As of the end of 2013, the
phase of reconstruction at Allegheny Landing and
30.8 million square feet tracked in the District reduced
reopened a newly built dock and boardwalk. Future
energy consumption by 11.6% from the baseline, putting
plans include the restoration of the park and the Arts
the 2030 District ahead of its 2015 reduction goals.
Council restoring the public art in the space. Riverlife
The amount of energy avoided (286,508,179 kBtu)
is currently finalizing plans for the ramps connecting
compared to the baseline is the equivalent to removing
the Monongahela Wharf Trail to the Smithfield Street
nearly 7,800 homes from the electric grid. As water
Bridge and intends to begin construction in 2014.
and transportation progress is tracked and reduced
Additionally in 2014, the Pittsburgh Cultural Trust plans
along with energy, Pittsburgh will maintain its place as
to break ground on a small parklet at the corner of
a world leader for green practices and sustainability.
Eighth Street and Penn Avenue.
39
PITTSBURGH 2030 DISTRICT ENERGY
REPORTS & TARGETS
PITTSBURGH 2030 DISTRICT
PROPERTY STATS
40
-10%
-20%
-35%
-50%
5 8 , 8 53 ,1 2 8
70.5 EUI
60
-11.6%
79.8 EUI
80
109
Properties
58% of
Entire 2030
District
20
33,933,577
CBECS 2003 BASELINE
2030
2025
2020
2015
2013
0
Baseline
EUI (kBtu/sq ft)
100
2013 DISTRICT SITE EUI
TOTAL SQ. FT.
COMMITTED SQ. FT.
2030 GOALS
Source: Pittsburgh 2030 District, Green Building Alliance
Source: Pittsburgh 2030 District, Green Building Alliance
LEED Spaces certified in 2013
Sports & Exhibition
Authority Offices
LEED CI - Platinum
Duquesne University Des Places
Residence Hall
LEED NC - Gold
UPMC at US Steel Tower
(UPMC floors 8,9, 25)
LEED CI - Silver
One PNC Plaza (Floor 14)
LEED CI - Silver
Source: Green Building Alliance
20,0 0 0
TREEVITALIZE’S 20,000TH TREE WAS
PLANTED IN DOWNTOWN IN 2013
BY THE NUMBERS
Sidewalk Planters & Hanging Baskets
Acres of Park Space
Miles of Riverfront Trails
Energy Star Certified Space (Square Feet)
Average Daily Temperature (˚F high/low)
Sources: Green Building Alliance; National Weather Service; Pittsburgh Downtown
Partnership; Western Pennsylvania Conservancy
40 2014 State of Downtown Pittsburgh
600/440
47.25
7.13
5.2M
60.3/42.8
S P OT L I G H T
ALLEGHENY COUNTY GREEN
ROOF
Allegheny County has increased efficiency
of County-owned buildings in Downtown
Pittsburgh through a number of energy and
water saving strategies. Between 2011 and
2013 the County Office Building, County
Courthouse, City-County Building, County
Jail, and Family Court Building have achieved
a combined total utility cost savings of
$1,930,209, including electric, natural gas,
steam, water and sewer utilities.
The green roof of the Allegheny County
Office Building, located at 542 Forbes Avenue
includes the following green roof types: Tray
Extensive, Extensive, Semi-Intensive, and
Intensive, along with a vertical green wall
designed to screen roof-top equipment.
Depending upon the type of roof, the weather
conditions and the storm event, monitoring
stations have recorded roof temperatures
that are 35° to 60° cooler than conventional
roof areas, runoff reduction of 0.2 inches
(20% - 100%), and runoff delay of 1 hour.
The green roof, combined with a longer list of
Allegheny County sustainability measures, are
projected to have a total cost avoidance of
$64.2 million over a 15-year term, County-wide.
41
D OW N T OW N
DEV E L OPM E N T
42
2014 State of Downtown Pittsburgh
In the past 20 years Greater Downtown has
The Senator John Heinz History Center completed
experienced the addition of two museums, three
the $6 million Museum Support Center, housing the
large-scale performing arts theaters, 13 miles of
center’s artifact collection and leasable space built
riverfront park, 3.6 million square feet of office space,
to Smithsonian standards. The Carnegie Science
eight hotels, and four world-class professional sports
Center released conceptual plans for a $55 million
facilities. These assets have been catalysts in the
upgrade and expansion of the center, replacing
transformation of Downtown Pittsburgh and helped
60,000 square feet of exhibition space lost when
to set Pittsburgh apart from other post-industrial
the former SportsWorks building was demolished in
cities. These investments represent over $5.2 billion
2008. Pittsburgh Gateways anticipates a summer 2014
in completed investment since 1994. At the time of
opening for the Energy Innovation Center adjacent to
this publication, the value of projects currently under
the 28-acre redevelopment project in the lower Hill
construction is $772 million with an additional $1.6
District.
billion in announced and anticipated projects.
Point Park University is getting ready for a new stage
The number of building permits issued in the Golden
of the Academic Village Initiative – the relocation
Triangle increased 5.8% from 188 in 2012 to 199 in
of the Pittsburgh Playhouse to its new site along
2013. The recorded permit value increased from $80.2
Forbes Avenue in Downtown. The footprint of the
million to $224 million during the same period largely
new Pittsburgh Playhouse will be a blend of new
due to construction activity on The Tower at PNC.
construction as well as the restoration and reuse of
On the North Shore, the number of permits increased
the historic University Center on Wood Street and the
from 16 to 19 and the recorded permit value increased
Stock Exchange Building on Fourth Avenue.
from $2 million in 2012 to $37.9 million in 2013 due
largely to the construction of North Shore Place I & II.
Projects such as the Lower Hill District redevelopment,
In total, permits issued in Greater Downtown
riverfront development in the Strip District, and infill
decreased by four from 290 in 2012 to 286 in 2013
projects on the North and South Shore continue
while the recorded permit value increased by 118%
in various stages of planning. These developments
from $128 million to $280 million.
will define the future of Downtown much like the
transformative projects of the past 20 years.
In 2013, Continental Real Estate broke ground on
North Shore Place, the $28 million retail and office
project on North Shore Drive between PNC Park
and Heinz Field. PMC Property Group and Kimpton
Hotels started converting the former Reed Smith
headquarters at Sixth Avenue and William Penn Place
into a 247-room Hotel Monaco set to open in 2014. On
Smithfield Street, McKnight Realty Partners completed
demolition on floors 14 through 24 in anticipation of
the 240-room Embassy Suites coming to the Henry W.
Oliver Building.
43
Completed Investment Projects
by Type, 2006-2014
Active & Announced Investment
Projects by Type, 2014
3.9% 2.5%
.7%
7.2%
10.4%
7.4%
29.8%
38%
10.3%
12.5%
12.4%
18.5%
22.4%
23.9%
HOTEL/ENTERTAINMENT ($947,169,000)
MIXED USE ($886,150,000)
TRANSPORTATION ($711,065,700)
OFFICE/RETAIL ($557,764,000)
EDUCATION/CIVIC ($588,021,000)
HOTEL/ENTERTAINMENT ($289,000,000)
RESIDENTIAL ($398,822,000)
EDUCATION/CIVIC ($239,840,000)
MIXED USE ($331,616,000)
TRANSPORTATION ($173,450,000)
OFFICE/RETAIL ($124,196,000)
RESIDENTIAL ($167,200,000)
PARK/TRAIL ($77,969,000)
PARK/TRAIL ($17,150,000)
Source: Pittsburgh Downtown Partnership
BUILDING PERMIT ISSUANCES
Permits
Recorded Cost
Golden Triangle
North Shore
Strip District
South Shore
Bluff
2010 137$61,851,741
26 $10,278,676
24 $2,574,201
6 $99,714
–
–
2011 169$49,432,238
16 $2,138,721
31 $15,546,894
9 $310,431
–
–
2012 188$80,263,124
16 $2,774,196
49 $2,779,492
13 $4,917,000
24 $37,937,673
22 $1,327,201
4 $374,700
42 $16,319,613
2013 199$224,278,002 19 $37,977,118
Sources: Department of City Planning and Bureau of Building Inspections, City of Pittsburgh
44 2014 State of Downtown Pittsburgh
MAJOR DOWNTOWN DEVELOPMENTS, 1994 - PRESENT
1994
ANDY WARHOL
MUSEUM
$12,000,000
2004
HEINZ HISTORY
CENTER
EXPANSION
$27,000,000
1995
ALLEGHENY
COUNTY JAIL
$147,000,000
2006
THE ENCORE
ON 7TH
$37,000,000
1998
OLIVER GARAGE
& 301 FIFTH AVE
$78,000,000
2008
DUQUESNE
UNIVERSITY
POWER CENTER
$35,000,000
1999
O'REILLY
THEATER
$25,000,000
2000
PNC FIRSTSIDE
$120,000,000
2007
151 FIRST SIDE
$36,000,000
2001
MELLON
SERVICES
CENTER
$150,000,000
2001
HEINZ FIELD &
PNC PARK
$543,000,000
2002
ALCOA
BUSINESS
SERVICES
CENTER
$26,000,000
2002
DAVID L.
LAWRENCE
CONVENTION
CENTER
$373,000,000
2010
CONSOL
ENERGY CENTER
$321,000,000
2003
THEATER
SQUARE
$33,000,000
2003
PITTSBURGH
CAPA
$35,000,000
2011
OTTO MILK
CONDOMINIUMS
$25,000,000
UNDER
CONSTRUCTION
ENERGY
INNOVATION
CENTER
Civic
NORTH SHORE
PLACE
Mixed Use
HOTEL MONACO
Hotel
2007
THE CORK
FACTORY
$60,000,000
EMBASSY SUITES
Hotel
THE TOWER
AT PNC
Office
2008
GRANT STREET
TRANSPORTATION
CENTER
$50,000,000
THE GARDENS AT
MARKET SQUARE
Mixed Use
PLANNING
2009
PIATT PLACE
$65,000,000
2010
THREE PNC
PLAZA
$210,000,000
2012
HIGHMARK
STADIUM
$10,000,000
2013
POINT STATE
PARK FOUNTAIN
PROMENADE
$10,000,000
2006
DEL MONTE
CENTER
$43,000,000
1997
PENN AVENUE
PLACE
$30,000,000
1998
CULTURAL
DISTRICT
RIVERFRONT
PARK
$10,000,000
2005
HEINZ LOFTS
$72,000,000
2005
NORTH SHORE
RIVERFRONT
PARK
$35,000,000
1996
SEN. JOHN
HEINZ HISTORY
CENTER
$36,000,000
2012
NORTH SHORE
CONNECTOR
$518,000,000
350 OLIVER
Mixed Use
LOWER HILL
DISTRICT
Mixed Use
2009
CENTURY
BUILDING
$15,000,000
PITTSBURGH
PLAYHOUSE AT
POINT PARK
Civic
2010
MARKET SQUARE
$5,000,000
CARNEGIE
SCIENCE CENTER
EXPANSION
Civic
BUS RAPID
TRANSIT
Transportation
350 FIFTH AVENUE
Office
1100 SMALLMAN
Residential
2011
CONVENTION
CENTER
RIVERFRONT
PLAZA
$10,000,000
THREE CROSSINGS
Residential
WHOLEY
BUILDING
Residential
45
PDP STAFF
Jeremy Waldrup
President and CEO
Cindy Day
Director of Finance
Lucinda G. Beattie
Vice President,
Transportation
Jack Dougherty
Marketing and Special
Events Manager
Tracy Brindle
Manager, PDP Clean &
Street Team Programs
Lynda Fairbrother
Administrative Assistant
Geof Comings
Economic Development
Manager
BOARD OF
DIRECTORS
OFFICERS
Grant Mason
Oxford Development
Company
Chairperson
Russell A. Howard
Vice President, Special
Events & Development
Brian Kurtz
Research and Economic
Development Manager
Mairin Petrone
Marketing and Special
Events Manager
Leigh White
Vice President, Marketing
& Communications
Richard L. Beynon,
Thomas M. Hall II,
Beynon & Company, Inc.
First Presbyterian Church
Millcraft Investments
Jim Blue, Merrill Lynch
Melanie Harrington,
John R. Roach, CBRE, Inc.
Lucas Piatt,
Michael Brunner, Brunner
Vibrant Pittsburgh
F. Brooks Robinson, Jr.,
Herbert Burger*,
Thomas J. Harrington,
Commonwealth of
Speedwell Enterprises
Winthrop Management
Pennsylvania, Office of
Jamie Campolongo,
Larry Jackson,
the Governor
Yellow Cab Company
Acusis, LLC
Robert Rubinstein,
Lisa M. Carey,
Ken Knapp, BNY Mellon
Urban Redevelopment
E. Gerry Dudley
CBRE, Inc.
Vice Chair
Northwest Savings Bank
Barry Kukovich,
Authority of Pittsburgh
David Case, PMI
Peoples Natural Gas
Izzy Rudolph,
Dan Cessna,
R. Daniel Lavelle,
McKnight Property
William R. Clarkson, Jr.
Strategic Investment
Fund, Inc.
Treasurer
PennDOT District 11
City of Pittsburgh,
Development
Mark Broadhurst
Eat ‘n Park Hospitality
Group, Inc.
Secretary
Guy Costa,
City Council
Janice M. Smith,
The Office of Mayor
Kevin McMahon,
Crowe Horwath, LLP
William Peduto
The Pittsburgh
Merrill Stabile,
Debra Donley,
Cultural Trust
ALCO Parking
Hertz Gateway
Clare Meehan,
Corporation
Center, LP
Alphagraphics
Craig R. Stambaugh,
Melissa Dougherty,
Tom Michael, Larrimor`s
UPMC
Cohen & Grigsby, P.C.
Romel L. Nicholas, Sr.,
Aaron Stauber,
Eric Feder,
Gaitens Tucceri &
Rugby Realty
Downtown Resident
Nicholas
Company, Inc.
Rich Fitzgerald,
Susan Niedbala,
Matthew Sterne,
Allegheny County
BOMA Pittsburgh
Fairmont Pittsburgh
Executive
Dan Onorato,
Thomas L. VanKirk*,
Mariann Geyer,
Highmark, Inc.
Highmark, Inc.
Point Park University
David Onorato,
Jake Wheatley, Jr.,
Thomas B. Grealish,
Pittsburgh Parking
State of Pennsylvania
Henderson Brothers, Inc.
Authority
*Emeritus
46 2014 State of Downtown Pittsburgh
George Whitmer,
PNC Bank
ACKNOWLEDGEMENTS
PRESENTING SPONSORS
SUPPORTING SPONSORS
F E AT U R E D S P O N S O R S
INFORMATION
SOURCES
Fortune.com
Pittsburgh Downtown Partnership
Grant Street Association –
Pittsburgh Filmmakers
ALCO Parking Corporation
Greater Pittsburgh Arts Council
Pittsburgh Parking Authority
Green Building Alliance
Pittsburgh Parks Conservancy
Greyhound
Pittsburgh Penguins
HFF, LP
Pittsburgh Pirates
Allegheny County Airport Authority
Amtrak
Andy Warhol Museum
August Wilson Center for African
American Culture
Avison Young
BikePGH
Bricolage Production Company
Carnegie Science Center
CBRE, Inc.
Children's Museum of Pittsburgh
City of Pittsburgh Bureau of
Building Inspections
City of Pittsburgh Bureau of Police
City of Pittsburgh Department
of City Planning
Colliers International
Consol Energy Center/AEG
CoStar Group
David L. Lawrence
Convention Center
DeepLocal
Ernst and Young
ESPN.com
Fort Pitt Museum
Cushman Wakefield
Pittsburgh Opera
Highmark Stadium
Pittsburgh Playwrights Theatre
Innovation Works
Pittsburgh Public Theater
JLL
Pittsburgh Regional Alliance
Kathy Wallace
Pittsburgh Steelers
Marcus & Millichap
Pittsburgh Symphony Orchestra
Mattress Factory
Point Park University
Megabus
Port Authority of
National Aviary
National Center for
Education Statistics
National Center for Science
and Engineering Statistics
Allegheny County
Senator John Heinz History Center
Smith Travel Research
Stage AE/PromoWest North Shore
U.S. Census Bureau
National Weather Service
University of Pittsburgh
New Hazlet Theater
Urban Redevelopment Authority
Newmark Grubb Knight Frank
VisitPittsburgh
Oxford Development
Walk Score
ParkPGH
Western Pennsylvania Conservancy
Pittsburgh and Allegheny County
Western Pennsylvania
Sports and Exhibiton Authority
Pittsburgh Ballet Theatre
Multi-List Service
Zipcar Pittsburgh
Pittsburgh CLO
Pittsburgh Cultural Trust
47
DOWNTOWN PITTSBURGH
IN THE ST
IN VESTMEN T
M AP
2014
PROJECTS COMPLETED
PROJECTS ACTIVE
PROJECTS ANNOUNCED
$3,178,858,700
$772,400,000
$1,558,154,000
TOTA L I N V E S T M E N
J anuar y 2 0 0 6 t h rou g h M
$5,509,412,7
Note: This ongoing list represents active and publicly announced projects in Downtown Pittsburgh as of 3/14. The study area includes the Golden Triangle, North Shore, South Shore,
Lower Hill/Uptown, and the Near Strip (to 26th Street). Projects are listed in three categories. Announced: meaning a project has been publicly announced and/or a construction schedule
has been determined and due diligence is under way. Active: meaning ground has been broken. Completed: meaning there is no longer active construction at the project site. Visit
DowntownPittsburgh.com/Investment for more information.
RIP DISTRICT
NTS
MARCH 2014
E d u c at i o n / C i v i c
77
78
102
130
157
179
181
183
185
186
Point Park University:
Pittsburgh Playhouse
Point Park University:
Student Center
Energy Innovation Center
Cultural Trust Facility
Improvements – Phase 2
Heinz Field Seat Additions
Point Park University:
Thayer Hall Improvements
Heinz Field Video Board
Carnegie Science Center
Benedum Center Expansion
Duquesne University Theatre
Residential
82
101
120
138
161
163
165
168
170
174
176
180
Wholey Building Conversion
711/713 Penn Avenue
907/909 Penn Avenue
200 Ross Street Conversion
Hartley Rose Condos
422 First Avenue
Clark Building
121 Seventh Street
1135 Penn Avenue
Three Crossings by Oxford
1100 Smallman
Strip District City Homes
O f f i c e / R e t a i l
17 North Shore “Option Area”
Development
107 Burns and Scalo Ft. Pitt Blvd Tower
110 The Tower at PNC Plaza
125 PPG Place Market Square Upgrades
139 Fiserv Building Modernization
144 350 Fifth Avenue
158 North Shore Place I & II
166 EQT Tower and Plaza Upgrades
167 11 Stanwix Plaza Renovation
169 Four Gateway Center Restaurant
Expansion
173 Verizon Building Restoration
Phase 2
175 Dollar Bank Plaza
700
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Conceptual Projects
Projects that are in Planning
or Under Construction
H o t e l / E n t er t a i n m e n t
56 1400 Smallman Hotel
58 Ross Street Kratsa Hotel
Development
62 Convention Center Hotel
73 Holiday Inn Express – Federal Street
104 Forza Fort Pitt Blvd Hotel
152 Hotel Monaco
160 Embassy Suites & Oliver
Building Restoration
182 Drury Hotel and Suites
187 Salvation Army Conversion
P a r k s / Tr a i l s
21
105
131
135
177
178
Mon Wharf Trail: Switchbacks
Mellon Square Park
Allegheny Landing Restoration
Point State Park Connector
Gateway Island Project
Cultural Trust Park
Tr a n s p o r t a t i o n
96
99
108
109
128
141
164
Liberty Tunnel Portal Rehabilitation
10th Street Bridge Rehabilitation:
Phase 1
Sister Bridges Rehabilitation
Traffic Signalization Upgrade (CBD)
Bus Rapid Transit Corridor
Allegheny Valley Commuter
Rail Line
Fort Pitt Boulevard Bike Track
M i x e d U s e
15 Civic Arena Site & Lower Hill
Redevelopment
26 Cultural District River Front
Development
47 The Gardens at Market Square
118 Strip Produce Terminal
Redevelopment
119 Buncher – Strip District
Development
126 Blue Line Grille and Apartments
137 604 Liberty Avenue
142 Regional Enterprise Tower
Conversion
146 350 Oliver Garage
DOWNTOWNPITTSBURGH.COM
925 Liberty Avenue, 4th Floor
Pittsburgh, PA 15222
412-566-4190