Archive

Downtown Pittsburgh continues on strong growth trajectory | TribLIVE.com
News

Downtown Pittsburgh continues on strong growth trajectory

Tom Fontaine
PTRDOWNTOWN051515
Justin Merriman | Trib Total Media
Downtown Pittsburgh on Thursday, May 14, 2015.

Developers announced about three dozen economic development projects totaling $526 million in Pittsburgh’s Greater Downtown in 2014, capitalizing on dramatic growth in recent years, according to a report released Thursday.

“With more than $5 billion of transformative investment in Downtown Pittsburgh over the last decade, Downtown is well-positioned,” said Jeremy Waldrup, president and CEO of the nonprofit Pittsburgh Downtown Partnership.

The group, dedicated to promoting a positive image of Downtown, released its annual State of Downtown report during an event at Kimpton’s Hotel Monaco on William Penn Place. Greater Downtown includes the Golden Triangle, North Shore, South Shore, Uptown, the Bluff and the Strip District as far as northeast as 31st Street.

Among its findings, the report said Greater Downtown’s population increased last year to 12,604, up 2 percent from the year before and 13 percent from 2010. Seventy-six condos sold for an average price of $332,115 — including a $724,000 condo at Three PNC Plaza that sold without spending a day on the market.

Attendance at professional sporting events and the David L. Lawrence Convention Center increased, as did the number of restaurants. The report said Greater Downtown has 300 dining establishments, including 95 with outdoor seating.

The report said the 37 economic development projects announced last year are expected to add 142 residential units, 356 hotel rooms and 1.2 million square feet of office space. About 40 percent of the $526 million will be spent on renovating or converting older buildings.

Tom Fontaine is a staff writer for Trib Total Media. He can be reached at 412-320-7847 or [email protected].

TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.