For Immediate Release - July 16, 2009
Contact: Hollie Geitner
412) 325-0153
(412) 780-6709 – cell
hgeitner@downtownpittsburgh.com
Downtown Investment Reaches $4.8 Billion
PITTSBURGH, PA — The Pittsburgh Downtown Partnership (PDP) released today its annual investment figure of Downtown project investment. Since 2006, $4.8 billion has been invested in Downtown improvement projects, which includes total completed, active and planned investment. Current and planned projects total nearly $4.2 billion. Project categories represent education/civic, park/trail, hotel/entertainment, transportation, office/retail, residential and mixed use.
“All investment in our city is a positive sign that we’re moving forward and it’s a tremendous opportunity for us to show the world, as we get closer to the G-20 Summit, that steady and sustainable progress has enabled Pittsburgh to thrive even in difficult times,” said Mayor Luke Ravenstahl.
“It’s an exciting time to be in Downtown Pittsburgh and this investment number proves our city is worthy of recent local and national attention for its commitment to growth and revitalization,” said Michael Edwards, President and CEO of the PDP.
Since 2006, the PDP has been tracking investment projects in the Golden Triangle, the North Shore, South Shore, Lower Hill, the Near Strip (to 26th St.) and Uptown/The Bluff. Projects are categorized as conceptual, planning stage, under construction and completed.
“Considering that nearly $4.2 billion of investment is occurring now or is planned, it’s evident the best is truly yet to come,” said Edwards. “This year, we’ll see the completion of some significant projects, such as Three PNC, the August Wilson Center, Rivers Casino and Market Square Place (the former G.C. Murphy Building in Market Square).”
Construction is scheduled to begin on Market Square, the city’s oldest town square, this summer, with a targeted completion date of late 2010. In and around Market Square alone project investments total nearly $500 million.
Click here to view a downloadable PDF version of the investment map, including project names and locations.
About the Pittsburgh Downtown Partnership
The Pittsburgh Downtown Partnership (PDP), celebrating its 15th year, is a dynamic, nonprofit organization comprised of business and community leaders, property owners, civic organizations, foundations and residents who provide energy, vision and advocacy for Downtown Pittsburgh. Working collaboratively with its partners, the PDP strives to create a positive Downtown experience for residents, workers and visitors alike. The PDP’s strategic initiatives include clean and safe services, transportation, housing and economic development and advocacy. For more information, visit www.DowntownPittsburgh.com.
# # #
 |
 |
 |
 |
 |
