Wednesday, February 9, 2011

New Development Coming to Downtown

More construction is coming to the heart of Pittsburgh. Millcraft Industries, a Washington, PA real estate development company has been buying up property downtown south of Forbes Avenue between Wood Street and Market Square. Lucas Piatt, Millcraft's Chief Operating Officer says this is the third phase of a project that has been on the table since they first introduced it to then mayor Bob O'Connor. "Our Fifth and Market project consisted of the renovation of the former Lazarus-Macy's building into Piatt Place, the revitalization of the former G.C. Murphy building into a project called Market Square Place and a project called the Gardens, which we are now pursuing." The Gardens will consist of a hotel, office and retail space and parking. It's estimated to cost $50-60 million. The Urban Redevelopment Authority will vote Thursday on a proposal to extend the negotiating period with Millcraft to the end of December on seven URA-owned parcels that would be used for the development. Piatt says he's confident the days of downtown as a deadzone after the workday ends, are over. "We're seeing this wonderful organic growth happen in downtown Pittsburgh right now. We think it's very strong, very sustainable -- it's the center of the region." Piatt says right now they're looking at schematic designs, and hope to break ground in 2012 and have occupancy midway through 2013.

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