state of downtown pittsburgh - The Pittsburgh Downtown Partnership

2012
STATE OF DOWNTOWN PITTSBURGH
TABLE OF CONTENTS
01
02
04
07
12
16
19
23
26
29
Foreword
Rankings
Excellence of Environment
Office and Employment
Residential Market
Restaurants and Retail
Visiting and Entertainment
Transportation
Downtown Development
Acknowledgements
Getting Here
Notable Rankings and Accolades
Setting the Stage
Business Happens
A Place to Call Home
A Vibrant Mix
The Perfect Getaway
The Hub of the Region
Prospering as a City
Thank You for Your Support
BID (Business
Improvement District)
Greater Downtown
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.
For more information about the Pittsburgh Downtown Partnership, its reports, data,
and studies, or to become a member, please visit www.DowntownPittsburgh.com
or email [email protected].
Foreword
State of Downtown Repor t
We are pleased to share with you the State of Downtown Pittsburgh 2012 which furthers
our efforts to maintain unique, consistent and reliable data about Downtown Pittsburgh.
Since our inception, the Pittsburgh Downtown Partnership (PDP) has served as an information
resource for developers, businesses and residents, collecting and disseminating data that
encourages investment in Downtown.
The State of Downtown Pittsburgh is meant to build upon the research efforts of past and present in order
to track, benchmark, and report data, specific to Downtown Pittsburgh. The report also highlights areas
of opportunity and current challenges as we strive to build upon the vitality of the center of the region.
As a business or property owner, developer or resident with investment stakes in Downtown Pittsburgh,
we hope this data proves to be indispensable.
Downtown’s residential population continues to increase with more units being delivered in 2012, and
office vacancy has decreased while lease rates continue to grow. The boundaries of Downtown are
expanding to the Lower Hill with the completion of the Consol Energy Center and future development
of the Civic Arena site, and to the popular North Shore with completion of the light-rail extension,
connecting hundreds of thousands of visitors with seamless access to the Golden Triangle. The country
is beginning to realize that Pittsburgh is a great place to live and visit, with frequent accolades, most
notably as the Most Livable City in the United States by three different publications.
Through our research and advocacy, we aim to be the go-to resource for developers and businesses looking
at Downtown as the Center of Opportunity.The Pittsburgh Downtown Partnership is committed to knowing
the people, businesses and organizations of Downtown, and supporting their efforts to grow the residential
and commercial investments underway. We will continue to advance initiatives that foster economic
vitality and improve life in Our Essential Downtown, and appreciate your support of this endeavor.
Jeremy T. Waldrup
President & CEO Thomas J. Harrington
Chairman of the Board
PITTSBURGH
The Most Livable U.S. City
- The Economist (29th worldwide) 2011, 2009; Forbes 2010; Places Rated Almanac 2007, 1985
“Pittsburgh certainly is one of the most remarkable
examples of a city that has re-engineered itself.”
– Federal Reserve Chairman Ben Bernanke, 2010
“Pittsburgh stands as a bold example of how to
create new jobs and industries while transitioning
to a 21st century economy.”
– President Barack Obama, 2009
“Places like Pittsburgh have shown that a city can stay vibrant as it shrinks, by redeveloping its core to
attract young professionals and creative types, and
by cultivating high-growth services and industries.”
– Richard Florida, The Atlantic Cities, 2009
N o table
R an k ings and
A cc o lades
nBest of the World 2012 (National Geographic Traveler Magazine, 2011)
nWorld’s Most Affordable Cities – 177(Mercer, 2011)
nTop 200 World Universities – 21st (CMU), 59th (Pitt)
(Times of Higher Education, 2011)
nAmerica’s 50 Best Bike Cities (Bicycling.com, 2011)
nTop 100 List of Best Places to Live – 46th (Pittsburgh)
(CNNMoney.com, 2011)
n6th Most Recession-Resistant City for Real Estate (Zillow.com, 2011)
n11th Highest Vitality Index Ranking (CreativeCities.org, 2011)
nMost LEED Certified Projects in the Country (Pittsburgh 15th)
(Green Building Alliance, 2011)
n4th Best City for Working Mothers (ForbesWoman, 2011)
n9th Best City in U.S. to Find a Job (Monster.com, 2011)
nTop-Earning County in Pennsylvania (Allegheny County 1st)
(U.S. Bureau of Economic Analysis, 2011)
nOne of Ten Places to Retire in 2012 (U.S. News and World Report, 2011)
n10th Best City for Growth in Tech Jobs (BusinessWeek.com, 2011)
n10th Strongest Retail Market (Nation’s Restaurant News, 2010)
n10th Best U.S. Market for Created Jobs (U.S. Bureau of Labor Statistics, 2010)
n4th Best City for Working Mothers (Forbes.com, 2010)
n2nd Best City for Recent Graduates (Huffington Post, 2010)
nNation’s Most Affordable City to Buy a Home (Forbes.com, 2010)
n2nd Most Affordable U.S. City (Forbes.com, 2010)
nAmerica’s 7th Best Place to Raise a Family (Forbes.com, 2010)
nTop 25 Hotels in the United States – 23rd (Renaissance Pittsburgh)
(TripAdvisor.com, 2010)
nNation’s Most Charity-Conscious City in America (Charity Navigator, 2010)
nNation’s Best City to Relocate to in America (CNBC, 2010)
n20th Best in Economic Performance during the Recession
(Brookings Institution, 2010)
nNation’s Best U.S. Sports Cities (Sporting News Magazine, 2009)
nNation’s Best U.S. Commercial Real Estate Market (Moody’s, 2009)
n3rd Best U.S. City (Kiplingers, 2009)
n10th Best Walking City (Prevention Magazine, 2009)
n3rd Best City for Job Growth (Forbes, 2009)
nTop Economic Performance (Brookings Instituion, 2009)
n9th Best North American City of the Future (fDi Magazine, 2009)
n6th Best City for Job Growth (Forbes, 2009)
n13th Best City for Young Professionals (Forbes, 2008)
E x cellence o f
E n v ir o nment
Downtown is a special place – the heart of the region and the
center of commerce – and its patrons expect a clean and safe
environment in which to visit, work and live. Their experience is
the deciding factor in choosing to make a return trip or continue
to invest in the core. It is imperative for property owners,
business operators and the public sector to provide a high
quality experience that is consistent with the vision of Downtown
as essential to the health and well-being of the region.
The Pittsburgh Downtown Partnership (PDP) is committed to the continued vibrancy
of Downtown and dedicated over 31,000 labor hours in 2011 to remove 1.1 million
pounds of trash and 4,677 graffiti tags, install 150 new cigarette urns, and power wash
the equivalent of 26.3 miles of sidewalks. Nearly 200 volunteers joined the PDP to
perform 1,442 hours of service projects, including mowing,
weeding, leaf and garbage pick-up, graffiti removal, painting and
gardening within the Downtown area.
Adding to the culture of an excellent environment, the Western
Pennsylvania Conservancy has been instrumental in greening
the streetscapes and pedestrian environments of Downtown.
In 2010 and 2011 the Conservancy placed 470 planters and 420
hanging baskets, transforming Downtown streets and bridges
with color and greenery. The organization depends on staff and
volunteers to change seasonal plants, water planters and baskets,
and is an integral partner in making Downtown a better place
through their work.
Downtown helps to lead the way in greening in more ways
than one, with over six million square feet of LEED certified
space, and another 900,000 square feet anticipated with the
completion of The Tower at PNC and The Gardens at Market
Square. Within Downtown is the world’s first LEED Gold
convention center, the only LEED Gold NHL facility, and one
of the largest green walls in North America. Pittsburgh ranks
15th in U.S. cities for the number of LEED certified projects
and Pennsylvania ranks 7th amongst the fifty states, setting an
example of creating excellent environments for people, while
conserving natural resources.
The City of Pittsburgh’s Storefront Renovation and Downtown
Façade Restoration programs, together with the Paris to
Pittsburgh Façade Grant through the PDP, assisted with 17
building facade improvements or restorations between 2010
and 2012. These programs are changing the face of Downtown
and encourage the improvement of Downtown’s beautiful
architecture while creating a safe pedestrian environment.
A common misconception is that Downtown is unsafe.
The total number of criminal offenses was down 29% in 2011,
decreasing from 1,797 in 2010 to 1,280 offenses in 2011. Of the
24 types of offenses tracked in 2011, only two increased over
2010; embezzlement from 3 to 4 offenses, and robbery from
71 to 87 offenses.
Downtown is experiencing a new energy and vibrancy that
can be seen in a range of facts and figures but is also seen
by people’s perception. A November 2010 survey of PDP
members, residents and Downtown stakeholders sought the
respondents’ perception of Downtown characteristics for the
preceding 12 months. The vast majority of responses fell into
the categories of “much better” or “slightly better.” Over 81%
of respondents perceived that the overall vitality of Downtown
improved, while 57.5% thought that Downtown safety was
improved. Nearly 90% of all respondents stated Downtown
maintains a strong appearance and improved over the previous
12 months.
The Downtown of today is not the Downtown of a decade
ago – take Market Square as a prime example. The Square’s
renovation served as a major catalyst for the burgeoning
restaurant scene, with people eating and enjoying the public
space at all times of the day. The enhancement of public spaces
and the overall Downtown environment will continue to leverage
other public and private investments, and continue to build
upon the economic vitality of the region. By capitalizing on the
improved environment, Downtown will continue to reposition
itself as a dynamic 21st century urban center.
Page 5
Excellence of Environment
State of Downtown Repor t
By the Numbers
Numbers
Ranking of Pittsburgh in
# of LEED certified projects
investment of
$400,000 Annual
planters and baskets
certified square
6,170,415 LEED
footage in Downtown
Miles of sidewalks
26.3
powerwashed in 2011
Number of cigarette butts
18,076
removed each week
52.8°
Average daily temperature
15
Criminal Offenses by Month
200
140
150
100
84
50
Sources: Green Building Alliance,
Western Pennsylvania Conservancy,
PDP, NOAA
The total number of
criminal offenses were down
in all but two months of
2011 over 2010
JAN
DEC
2010
2011
Sources: Pittsburgh Police Deparment, PDP
This island of tranquility in the middle of a bustling
Downtown corridor has brought liveliness and beauty
to Downtown Pittsburgh since 1955. The 1.37 acre
Square is located within the Central Downtown
Historic District and draws upon the significant
architectural gems that surround it.
Spotlight
The Pittsburgh Parks Conservancy, in conjunction
with the City of Pittsburgh and the Pittsburgh Parking
Authority, is undertaking a restoration to return Mellon
Square to its former glory and make it an integral and
positive part of Downtown Pittsburgh. The Parks
Conservancy intends to restore the original design of
landscape architect John O. Simonds and architect
Dahlen K. Ritchey. Based on an original concept by
Simonds and Ritchey, a new Terrace will be created on
the current roof overlooking Smithfield Street.
Fundraising and construction are now underway
and will continue into 2013. The first phase of the
Parks Conservancy’s restoration project focuses on
the area from the top of the two staircases down to
Smithfield Street, including the Cascade Fountain.
In addition to fundraising for construction dollars,
the Parks Conservancy is raising funds for the
continued maintenance and management of the
Square – never again allowing it to deteriorate.
The Parks Conservancy and the City of Pittsburgh
will jointly maintain and program the space with
concerts and other activities.
Photo Credit: Robert Bowden
OFFICE &
E M P L OY M E N T
Business happens in Downtown Pittsburgh. Downtown,
much like the businesses that live within it, is big enough to
be impressive and small enough to be accessible.
Downtown Pittsburgh is the core of the regional economy with the largest
number of corporate headquarters of any other Western Pennsylvania location,
providing world-class professional services and amenities that host four Fortune
500 companies in the Golden Triangle, and one in Station Square. As the region’s
primary financial center, Downtown is home to the The PNC Financial Services
Group, the nation’s fifth-largest bank, Federated Investors, a major operating hub
for BNY Mellon, as well as such important national and regional banking
institutions as Citizens Bank, Dollar Bank, Fifth Third Bank, First Niagara Financial
Group, First National Bank, and Huntington Bank. It is the headquarters to some
of the world’s most recognizable brands such as Alcoa, DelMonte, EQT, GNC,
Heinz, Koppers Inc., PPG, StarKist, U.S. Steel, UPMC, and WESCO.
Downtown Pittsburgh is the second largest employment center in Pennsylvania
and as shown in the most recent Workforce Profile from 2010, is the workplace
to over 126,000 employees. Two-thirds of Downtown workers are employed in
the service or finance industries, with legal services accounting for 30% of the
service segment workforce. The Downtown workforce represents 31.9% of the
estimated workforce of 394,752 in the City of Pittsburgh, serving as the center of
activity for the ten-county Pittsburgh region which, according to the 2010 census,
is workplace to over 2.5 million individuals.
Even as businesses continue to recover from the global
recession, the region as a whole is faring better than most. Based
on seasonally adjusted data, the Pittsburgh region’s December
2011 unemployment rate was 6.9%, well below Pennsylvania
at 8.5%, and the national rate of 9.4%. Retail employment grew
by 14% and employment in the services industry increased by
10% over 2007, even in the midst of a deep, long-lived economic
recession. As unemployment rates hold steady and commercial
vacancy rates decrease, it is anticipated that the number of
Downtown employees is on the rise.
At of the fourth quarter of 2011, the CBD Class A vacancy rate
was 7.4%, while the CBD Class B rate was 15.1%. At the same
time, the average lease rate in the CBD for Class A space was
$23.86 per square foot while Class B averaged $17.51 per
square foot. As Class A buildings continued to fill in 2011with
new leases, expansions and renewals, Class A lease rates are
predicted to pass $25 per square foot in next the 18-24 months
and Class B lease rates are predicted to top $19.25 in the same
time period. The Class B inventory continues to shrink with
building conversions into other uses, such as the redevelopment
of 201 Stanwix Street into residential and educational uses, the
former State Office Building at 300 Liberty Avenue into Rivervue
Apartments, the conversion of 200 Ross Street into residential,
and the potential reuse of the upper floors of the Henry W.
Oliver Building at 535 Smithfield Street into hotel space.
Highlights of the Downtown commercial market in 2011
include notable high-profile property transactions with a wide
range of institutional investors. An investment group led by
Mark Karasick purchased the U.S. Steel Tower for $250 million,
while GLL Real Estate Partners, a Munich, Germany based real
estate investment fund, purchased 11 Stanwix Street for $62.8
million. Later in the year, Highwoods Properties, a publicly
traded real estate investment trust from North Carolina,
completed the sale of PPG Place for $180 million with plans
for an additional $25 million in building and tenant upgrades.
Moving into the first quarter of 2012, Health Trust of America
purchased Penn Avenue Place for $54 million, continuing their
fast-paced entrance into the market after the purchase of
two North Shore buildings, the Alcoa Business Center and
Federal North Building, for a combined $77.6 million in 2010.
All of these major commercial building transactions provided
greater diversity in the profile of investors that are now in
Downtown Pittsburgh. Their presence is certain to attract
continued national and global interest in assets within the CBD.
The willingness of owners to make capital investments and
improvements was the reason many high impact leases were
signed in 2011. Downtown was happy to welcome Maya
Design, ShowClix, and dck worldwide with new leases bringing
these three growing firms into Downtown with approximately
20,000, 12,000, and 24,000 square foot spaces, respectively.
The continued expansion of UMPC in the U.S. Steel Tower
continues to drive demand into the tightening Class A market,
while large renewals such as Federated Investors and
Duquesne Light took a combined 340,000 square feet off the
market for the foreseeable future.
Looking further ahead into 2012, demolition is well underway
at the site of the future 800,000 square foot Tower at PNC
on Wood Street between Fifth and Forbes Avenues, and site
preparation is anticipated to begin this summer for The Gardens
at Market Square that will add approximately 100,000 square
feet of Class A inventory to the CBD in 2014, in addition to
retail and hotel uses. More recently announced in the Strip
District is a 120,000 square foot Class A office building by The
Buncher Company and the conversion of the former Wholey’s
warehouse at 1501 Penn Avenue into 225,000 square feet
of Class A office space and indoor parking. This combined
445,000 square feet of space may prove to be essential to
the Downtown market if new lease signings and renewals
continue at their current pace.
Downtown has experienced a substantial amount of public
and private investment over the last decade that has helped
position the Golden Triangle and adjacent areas for continued
investment and growth. The increasing strength of the
Downtown market will continue into 2012 as more companies
and corporations realize that Downtown Pittsburgh is the
Center of Opportunity.
Office & Employment Downtown
State of Downtown Repor t
CBD and Downtown Fringe Vacancy Rates
Class A
Class B
■ CBD Vacancy Rate
■ Fringe Vacancy Rate
16%
12%
7.4%
8%
■ CBD Vacancy Rate
■ Fringe Vacancy Rate
25%
20%
15%
10%
4%
5%
0%
4Q11
3Q11
2Q11
1Q11
4Q10
3Q10
2Q10
1Q10
4Q09
3Q09
2Q09
1Q09
4Q08
4Q11
3Q11
2Q11
1Q11
4Q10
3Q10
2Q10
1Q10
4Q09
3Q09
2Q09
1Q09
4Q08
0%
Source: CBRE Research
Class B
■ CBD Class A Avg Lease Rate
■ Fringe Class A Avg Lease Rate
$24.01
■ CBD Class B Avg Lease Rate
■ Fringe Class B Avg Lease Rate
$26
$24
$ Per Sq. Ft.
$28
$26
$24
$22
$20
$18
$16
$14
$22
$20
$18
$16
4Q11
3Q11
2Q11
1Q11
4Q10
3Q10
2Q10
1Q10
4Q11
3Q11
2Q11
1Q11
4Q10
3Q10
2Q10
$14
1Q10
$ Per Sq. Ft.
CBD and Downtown Fringe Lease Rates
Class A
Source: CBRE Research
Pittsburgh Office Market
Square Footage Distribution
Fortune 500 Companies
in Downtown
Company
Rank
United States Steel
PNC Financial Services Group
PPG Industries
H.J. Heinz
WESCO International
148
151
181
232
443
Revenue
(millions)
$17,374
$17,096
$13,423
$10,558
$5,063
Source: Fortune.com
Source: CBRE Research
Page 9
Office & Employment Downtown
State of Downtown Repor t
High Impact Sales Transactions in Downtown
By the Numbers
Building
Buyer
Price
US Steel Tower
Mark Karasick et. al.
$250,000,000
Square Feet
2,300,000
PPG Place
11 Stanwix Street
Henry W. Oliver Building
Highwood Properties
GLL Real Estate
McKnight Realty Partners
$191,600,000
$62,800,000
$12,000,000
1,524,435
429,663
468,914
High Impact Lease Transactions in Downtown
Address
Type
Square Quarter
Footage
UPMC Health Plan
Federated Investors
Dickie, McCamey & Chilcote, PC
FiServ Cir, Inc
Price WaterhouseCoopers LLP
Edysys, Inc
Kaplan Higher Education
Allegheny Technologies
Morgan Lewis Bockius
Allegheny County
McGuire Woods
AECOM
dck Worldwide
AIG Insurance
Maya Design
HDH Group
Littler Mendelson, PC
Elias Savion
First Commonwealth
Highmark, Inc
US Steel Tower
Liberty Center
Two PPG Place
912 Ft Duquesne Blvd
US Steel Tower
201 Stanwix Street
933 Penn Avenue
Six PPG Place
One Oxford Center
Frick Building
EQT Plaza
Gulf Tower
One PPG Place
EQT Plaza
Four Gateway Center
KL Gates Building
EQT Plaza
EQT Plaza
Frick Building
501 Penn Avenue
New Lease
Renewal
Renewal
Renewal
Renewal
New Lease
New Lease
Renewal
Renewal
Renewal
Renewal
New Lease
New Lease
Renewal
New Lease
New Lease
Renewal
Renewal
New Lease
New Lease
267,498
240,000
105,286
95,580
81,244
78,184
57,950
44,496
36,126
34,277
32,582
27,864
23,664
20,339
19,228
18,299
16,291
16,291
15,338
15,154
Austin
Boston, Dallas, New York, Seattle,
San Francisco Peninsula
Baltimore, Denver, San Antonio
Page 10
1Q
4Q
4Q
1Q
1Q
3Q
3Q
4Q
4Q
2Q
4Q
2Q
3Q
4Q
3Q
3Q
1Q
4Q
1Q
2Q
CBD and Downtown
Fringe Map
■ Downtown
■ Downtown Fringe
Source: CBRE Research
United States
Office Clock
Q4 2011
PITTSBURGH, Houston,
Class A Occupancy
Downtown Employees
PNC’s commitment to Downtown
Real Estate Development
Sq. Feet of Office Space
Source: Fortune.com, CBRE,
Grant Street Associates, PDP
Name
San Francisco
Silicon Valley
92.6%
126,370
$725M
26.3M
Sources: CBRE, Grant Street Associates – Cushman Wakefield, Jones Lang LaSalle
Sources: CBRE, Grant Street Associates –
Cushman Wakefield, Grubb and Ellis, Jones Lang LaSalle
Numbers
Fortune 500 Companies
5
Source: Jones Lang LaSalle
Peaking
Market
Falling
Market
Rising
Market
Bottoming
Market
Cincinnati, Cleveland, Detroit, Westchester County
Fort Lauderdale, Hampton Roads, Jacksonville,
Sacramento, West Palm Beach
Fairfield County, Los Angeles, New Jersey, Phoenix,
San Diego, St. Louis
Chicago, Charlotte, Orange County, Orlando, Raleigh-Durham
Atlanta, Indianapolis, Miami, Minneapolis, Oakland-East Bay,
Philadelphia, Richmond, Portland, Tampa, United States,
Washington, DC
Top Four Industry Classes
in Downtown
Services
Number of Workers
Legal Services
Eng, Acct, Research & Mgmt. Related Srvcs
Health Services
Business Services
Social Services
Educational Services
Hotels and Other Lodging Places
Membership Organizations
Amusement and Recreational Service
Automobile Repair, Services and Parking
Personal Services
Motion Pictures
Museums, Art Galleries
Miscellaneous Services
Miscellaneous Repair Services
Total
Finance
15,012
9,226
5,523
5,184
3,657
2,922
2,854
1,713
1,631
661
615
432
281
202
151
50,064
Number of Workers
Insurance Carriers
Security and Commodity Brokers and Services
Depository Institutions
Insurance Agents, Brokers and Services
Real Estate
Holding and Other Investment Offices
Non-Depository Credit Institutions
Total
Retail
Number of Workers
Eating and Drinking Places
Home Furniture, Furnishings and Equipment
Food Stores
Miscellaneous Retail
Apparel and Accessory Stores
General Merchandise Stores
Building Materials and Garden Suppliers
Automobile Dealers and Gas Service Stations
Total
Public Programs
5,682
2,246
1,355
1,196
429
343
93
37
11,381
Number of Workers
Exec, Leg. and Gen. Govt. (Except Finance)
Justice, Public Order and Safety
Administration of Human Resource Programs
Public Finance, Taxation and Monetary Policy
Administration of Economic Programs
Admin. of Environ. Quality & Housing Programs
National Security and International Affairs
Total
Source: PDP Worker Profile, 2010
13,200
9,349
3,924
2,455
2,443
1,258
320
32,949
5,233
2,680
1,122
624
317
242
108
10,326
Spotlight
After 160 years in Downtown Pittsburgh, The PNC
Financial Services Group plans to stick around for
the next 160 by building the world’s greenest tower
to serve as its new world headquarters. Standing at
33 stories and encompassing 800,000 square feet,
the Tower at PNC Plaza is expected to exceed LEED
Platinum, the U.S. Green Building Council’s highest
certification rating, and will reinvigorate a distressed
block at Forbes Avenue and Wood Street.
“While we could have invested anywhere, the
improvements to Downtown Pittsburgh and the
reality that young professionals, the future leaders
of this region, love city life convinced us that our
first home should remain home,” said James E. Rohr,
chairman and chief executive officer, The PNC
Financial Services Group, Inc. Deconstruction and
recycling of the existing buildings has begun to make
way for the Tower’s anticipated completion in the
summer of 2015. This is just the latest of PNC’s
‘green’ developments Downtown.
The LEED certified Three PNC Plaza is another
example, the completion of which helped spur
additional investments along Fifth Avenue and into
Market Square. PNC Firstside Center opened in
2000 as the nation’s largest, corporate green building,
while the neighboring Firstside Park stands on site of
a deconstructed building.
Photo Credit: The PNC Financial Services Group, Inc.
RESIDENTIAL
MARKET
Downtown has been the economic epicenter for the Pittsburgh
region. But unlike other major cities across the United States,
the Golden Triangle never served as a major residential
neighborhood, rather, catering to big business and industry.
With time, this trend has reversed and residential development
is rapidly growing. More apartments and condominiums are
being developed as interest in urban living increases and
residents continue to call the heart of the city their home.
When looking at the residential sector of Greater Downtown, the geographic area is
inclusive of the Golden Triangle, North Shore, Near Strip (to 26th street) and the Lower
Hill/Bluff. The population according to 2010 U.S. Census estimates was approximately
7,796, up 21.3% over the 2000 population of approximately 6,425. All of the areas
within Greater Downtown experienced an increase in population in 2010 over 2000.
The Golden Triangle grew the most, an increase of nearly 1,000 residents, or over 33%.
The 2010 U.S. Census statistics confirmed the PDP’s assessment that new and existing
apartment units were not sitting empty. According to quarterly rental market surveys
conducted by the PDP, the rental occupancy rate for Greater Downtown apartments
hasn’t fallen below 90% since the second quarter of 2009, and has maintained an
average of 94%. In that time, 219 new apartments have come online, with an additional
346 units under construction at: RiverVue (218) located at 300 Liberty Avenue, Lot 24
(96) next to the Cork Factory in the Strip District, and the expansion of Penn Garrison
(32) at 915 Penn Avenue.
Residential Market
State of Downtown Repor t
Occupancy Rate
for Greater Downtown Rental Units
98%
96%
94%
93.6%
92%
90%
158 units came online
at 201 Stanwix in 4Q11
The recent growth and success of Downtown living is
evidenced by the increase in population and number of
units. The City and Urban Redevelopment Authority
continue to leverage private dollars with programs like
the Upstairs Life-Safety Fund, helping to mitigate the
high cost of making life-safety improvements such as fire
suppressant systems and additional means of egress. The
Local Economic Revitalization Tax Act (LERTA) district
encourages investment by lessening the tax burden on
new development. Downtown’s landscape will continue
to evolve because of the investment that continues to
build upon the growing residential neighborhood.
Source: PDP
Average Price Per Square Foot
of Greater Downtown Rental Units
1.8
$1.70
1.6
1.2
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1.4
Source: PDP
Number of Greater Downtown Rental Units
2,100
2,079
2,000
1,900
1,800
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
On the condominium side, 76 units sold in 2011, consisting
of 44 new and 32 re-sales, and averaging 114 days on the
market. The average sales price per square foot was $208
up from $204 in 2011. New unit sales were significantly
higher, averaging $280 per square foot, while re-sales
averaged $131. In 2011, the completion of the Otto Milk
Condominiums at 2434 Smallman Street in the Strip
District brought 58 new units to the market. At the same
time, work commenced on L’Enfant Lofts at 806 Penn
Avenue to add six units in the Cultural District building.
86%
$ Per Sq. Ft.
PMC Property Group entered the Downtown residential
market at the beginning of 2011 with the purchase of 201
Stanwix Street and subsequent conversion of the building
into a charter school and 152 apartment units. As of the
beginning of 2012, the finished building is nearly 90% leased.
Their presence quickly grew with the purchase of the
Penn Garrison and plans for 32 additional units to this
popular Downtown address, in addition to its proposal to
renovate 200 Ross Street into 100 apartment units. More
recently, PMC closed on the Regional Enterprise Tower
at 425 Sixth Avenue with initial plans to consolidate the 30
stories of office space to 15, adding residential units to the
remaining floors.
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
88%
Source: PDP
Page 13
Residential Market
State of Downtown Repor t
Average Size of Rental Units
Greater Downtown Rental Market
Unit Distribution
1,736
1800
60
Sq. Ft.
1500
1,067
1200
900
600
1,145
1,280
863
528
644
300
0
983
Studio
2
1
2
1
Bedroom Bedroom Bedroom Bedroom
2 Bath
+ Den
Larger
Units
92
129
Source: PDP
■ 1 Bedroom
■ 1 Bedroom + Den
■ 2 Bedroom
■ 2 Bedroom + 2 Bath
■ Larger Units
Source: PDP
Primary Reason for Moving Downtown
Close to Work/School
Convenience/Central Location/Accessible to Everything
City Living/Get Out of Suburbs
Appeal of Building/Property
Job Transfer/Relocation
Other
Cultural District and Events/the Arts
Public Transportation
Social/Lively/Fun
Downsizing
Change in Marital Status
Close to Sports Events/Stadiums
Change of Lifestyle
Walkabililty
Close to Family Members
Live/Love Downtown
Born There or Lived There Before
Top 4 Reasons Same in 2010 & 2008
“Close to Work/School”
“Convenience/Accessibility”
“City Lifestyle/City Living”
“Appeal of Building/Property”
0%
Source: PDP Resident Profile, 2010
Page 14
10%
20%
30%
40%
Greater Downtown Condominium Sales
234 Total Sales
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
35
30
25
20
15
10
5
0
■ All Units
■ New Units
■ Re-Sales
Source: PDP, West Penn Multi-List
A new, local development company dove deep into
the Downtown residential market in 2011 with the
purchase of three construction-ready buildings.
Penn Renaissance, LP started in April with a six-unit
residential conversion at 806 Penn Avenue, now
known as L’Enfant Lofts.
Average Sales $ Per Square Foot
for Greater Downtown condominiums
$500
$400
$300
$208
$158
$116
$200
$100
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
$0
■ All Units
■ New Units
■ Re-Sales
Source: PDP, West Penn Multi-List
Satisfaction Rate with Downtown Living
Percent of Residents
60%
50.5%
50%
40%
1 = Not Satisfied at All
9 = Very Satisfied
30%
Spotlight
22.5%
While still working on the 1,650 square foot units, each
encompassing the entire floor of the slender building,
Penn Renaissance jumped at the opportunity to
redevelop a visibly neglected eight-story building at
524 Penn into a mix of one- and two-bedroom units
with restaurant and retail spaces on the first two floors.
The units will range in price from $150,000 to $470,000
and will bring a population of residents to the other
end of Penn Avenue at a lower price point than other
available new condominiums around Downtown.
“As a Downtown resident, I spend a lot of time
accidentally stumbling upon opportunities and then
thinking about how they fit into our residential mix,”
says Todd Palcic, owner of Penn Renaissance, LP.
“Clearly, we found a need for entry-level condos for
those committed to spending their young lives to live,
work and play Downtown. The margins are tighter,
but we were fortunate enough to find three buildings
that were distressed or unwanted – making them
economically viable.”
20%
10%
0%
1
2
3
4
Source: PDP Resident Profile, 2010
5
6
7
8
9
With no intent on slowing down, Penn Renaissance
says work will begin later in 2012 on the conversion
of 907/909 Penn Avenue into 28 loft apartments, with
the bottom two floors devoted to restaurant space.
R E staurants
and retail
In March of 2011, Nation’s Restaurant News released a study
of the nation’s healthiest retail markets as an analysis of vacancy
rates, rental rates, unemployment and the housing market.
Pittsburgh ranked tenth behind markets like Washington, D.C.,
New York City, San Diego and Seattle.
Downtown continues to feed the masses with the latest count of over 300 dining
establishments in Greater Downtown, including 180 with evening and weekend hours.
Helping to reestablish Downtown as the predominant nighttime destination in 2011 was
the first full year of Market Square’s reopening. After 14 months of construction, a long
list of new restaurants opened, ten in 2011 alone, including Noodles & Co., Winghart’s
Burger and Whiskey Bar, Diamond Market Grille, and La Cucina Flegrea, all of which have
outdoor dining. Since 2007, the PDP has awarded more than $800,000 in matching grants
to 41 restaurants through the Paris to Pittsburgh program, encouraging inviting outdoor
dining elements such as retractable awnings, tables and chairs, new lighting and landscaping.
Around the same time that Market Square started to flourish,
Fifth Avenue between Wood and Liberty transformed into an
upscale, predominantly men’s, fashion destination with Heinz
Healey’s, Larrimor’s and the Nettleton Shop. The Pittsburgh
History and Landmarks Foundation, in partnership with the
URA, hopes to capitalize on this success to create a women’s
boutique destination as a part of the Downtown Preservation
Project to restore buildings along the Fifth and Wood corridors.
After more than 60 years in Downtown, Saks Fifth Avenue closed
its doors in mid-March 2012. A month before the Saks closure was
announced, Macy’s released plans to consolidate their current
footprint, downsizing the store from 12 floors to six, in an effort
to reconfigure the store for better flow. The 86,000 square feet in
the former Saks building and the 250,000 square feet now available
in the Macy’s building add to the 130,000 square feet available in
the vacant Lord and Taylor store, for a total of 466,000 square
feet of vacant department store space along Smithfield Street.
Downtown’s growth and continued evolution will cause retail
vacancy to decrease as underutilized buildings are taken out of
the market. Half of a city block of vacant and visibly run-down
buildings were sold to The PNC Financial Services Group for the
construction of a new headquarters. Diagonal from that development,
Millcraft Industries is finalizing plans for The Gardens at Market
Square a $76.6 million mixed-use office and hotel project. Both
of these new Class A buildings will feature upscale retail options,
with 25,000 square feet of space at The Gardens and an
undetermined amount at the Tower at PNC. These projects will
concentrate a large daily population in the area that will have a
tremendous impact on the retail sector. Downtown workers and
businesspeople spend $102 per week, on average, at Downtown
establishments, and $56 on food and beverage alone.
The Mayor’s office is helping to set the future of Downtown
retail on two fronts, the first through Project Pop-Up: Downtown
(PPU:D), a project in partnership with the PDP and URA
that brings temporary retail stores and art installations to
Downtown, including a book store and craft cooperative.
The second is the Downtown Retail Attraction and Retention
task-force that will create a three-year action plan to revitalize
Downtown retail through a branding campaign, urban design
enhancements to the public realm, and attraction and retention
efforts. The group is comprised of property owners, the
brokerage community, retailers, and Downtown stakeholders,
including the PDP. Promoting a vibrant restaurant and retail
scene is critical to an engaging Downtown, and these endeavors
will help to support the economic vitality of an evolving CBD.
Spending by Type of Pedestrian
Average Total Weekly Amount
$200
$150
$100
$50
$0
$183
■ Retail
■ Services
$34
$18
$55
$131
$17
$12
$45
$76
$57
$121
$36
$6
$35
$44
■ Food & Bev
■ Entertainment
$102
$16
$4
$56
$27
Resident Shopping Entertain- Work/
ment
Business
$44
$5 $5
$22
$14
School
Source: PDP Pedestrian Study 2010
Page 17
Restaurants & Retail
State of Downtown Repor t
Improving Downtown Dining
Residents’ Ideas for Improving Their DT Dining Experience
Stay Open Later/Weekends
More Casual/Family/Chains
More Ethnic Options
More Mid-Price/Moderate $
More Variety/Choices
More Healthy/Organic/Vegtrn
Other
More Outdoor Places
More Fast Food
Better Parking
More Breakfast/Brunch
More Upscale Choices
More Bars/Sport Bars
More Take-Out Choices
More Clubs/Entertainment
Less Fast F/Chains/Stk House
More Delivery Choices
Need BYOB Places
Based upon the top mentions,
residents will support and patronize
mid-priced, casual restaurants that
stay open late and on weekends.
10%
Source: PDP Pedestrian Study, 2010
20%
Downtown
Anchor Retail
Total
Sq. Ft
Sq. Ft
Sq. Ft Occupied Available
Macy's
750,000
Burlington Coat 155,000
Factory
Lord & Taylor*
130,000
Saks Fifth
86,000
Avenue**
Brooks Brothers
27,000
TOTAL
1,148,000
Includes mentions such as:
“American Comfort Food”
“Like Union Grill in Oakland”
“Eat N Park,” “Panera”
0%
Downtown Anchor Retail Space
30%
500,000
155,000
250,000
-
-
130,000
86,000
27,000
682,000
466,000
*Lord & Taylor closed in 11/04
** Saks Fifth Avenue closed in 3/12
Source: Pittsburgh Regional Alliance, PDP
Greater Downtown
Retail Establishments
Dining
Shops
Services
313
197
148
Source: PDP
Since the completion of the Square, Downtown visitors have noticed
the positive transformation and numerous new businesses to frequent
and enjoy throughout the year. The new design of the Square has
received regional and national recognition as a great public space and
is now host to more events than it has ever seen. The improvements
within the space have also served as a major catalyst for the burgeoning
restaurant scene, with people eating and enjoying the public space.
Spotlight
Sixteen new restaurants. Hundreds of new
residences. The Market Square renovation, a
$5 million improvement project spearheaded
by Mayor Luke Ravenstahl, has become a major
stimulant for private investment in and around
the Square. What was once a place the public
avoided has become a Downtown destination
at all hours of the day.
In an effort to continue the momentum of Market Square throughout
the rest of Downtown, the City, the URA and the PDP implemented
a new program to activate vacant properties via Project Pop Up:
Downtown. Since November 2011, seven storefronts have been
activated, including the popular Fraley’s Robot Repair, Awesome Books,
and Boutique 208. Property owners generously donated space for a
six to twelve month term for use by the participants.
PPU:D has provided grants of up to $10,000 to fund eleven projects
in the Golden Triangle. A curatorial committee, organized by the
Greater Pittsburgh Arts Council, selected the finalists from a field of
90 applicants based on their innovative approach through the use of
retail, pop-up art, education, performance, or any such combination.
VISITING &
E N T E R TA I N M E N T
If the recent performance of the hospitality and entertainment
industries is an indicator of the recession’s end, Pittsburgh
is coming out on top. National research has shown that
discretionary spending during the global recession dropped
to a level lower than any previous economic downturn.
But by looking at attendance numbers and hotel sales year
over year, visitors and locals are finding Downtown to be
the perfect getaway in a tough economic climate.
The entire region benefited from the major stories and accolades about Pittsburgh
that were featured nationally. In 2011, VisitPittsburgh hosted travel writers and
broadcast media, resulting in stories being placed in AAA World, Miami Herald, The
Washington Times and American Style magazine, to name a few. These stories become a
major player in the tourism industry by continuing momentum and adding to the
$4.7 billion in visitor spending in the Pittsburgh region on over 27 million trips in 2009.
Pittsburgh hotels continued to perform at an exceptionally high level.
VisitPittsburgh and Smith Travel Research report that the Pittsburgh market’s
overall occupancy rate of 68.2% in 2011 was the highest in our competitive set,
and significantly above the national average of 60%. In addition, 2011 marked the
highest occupancy rate in more than 10 years for Pittsburgh area hotels. More
specifically, Downtown occupancy peaked at 80.2% in October and averaged
65.1% for 2011, up from 64% in 2010.
Downtown conventions and events continued to support the regions’ hotels and restaurants.
Among the many major conventions and events held Downtown in 2011 was the National Rifle
Association national conference that brought 71,000 attendees to Pittsburgh over a three day
period with nearly $24 million in direct spending. The NHL Winter Classic hosted at Heinz
Field on New Year’s Day accounted for $22 million in direct spending while the six-day Mennonite
Church USA convention led to $9.7 million in direct spending. The NRA and Mennonite
Church conventions helped the David L. Lawrence Convention Center attract a 2011 event
attendance of 506,118, exceeding its 2009 attendance of 500,390 after a drop in 2010 to
382,234, due to fewer bookings during the recession.
Between visitors keeping themselves occupied and local residents spending time Downtown,
nearly 6 million people attended over 2,528 Greater Downtown events in 2011. Downtown
performing arts venues alone hosted over 2,300 events with an audience of 1.3 million, up 4% over
2010. Helping the attendance numbers grow is the ability of the Pittsburgh Cultural Trust to attract
big name touring productions such as WICKED and War Horse, both having arrived at Downtown
venues in 2011. The three professional sports venues within Greater Downtown are also important
to the Pittsburgh economy, hosting a combined 220 events with 4.4 million attendees in 2011.
Downtown events such as First Night®, the Pittsburgh Three Rivers Arts Festival and Light Up Night®
have become major draws for people from the region.The 51st Duquesne Light Light Up Night®
and the following day Horse-Drawn Carriage Parade entertained more than 800,000 people
combined, with an estimated economic impact of over $21 million for the 2011 holiday season.
Downtown Pittsburgh’s premier holiday celebration is one of the largest in the country and
continues to attract a growing number of visitors as we welcome the holiday season.
Visitors and residents alike can find the perfect getaway in Downtown, and VisitPittsburgh
and the Allegheny Conference are making sure others know through an aggressive marketing
campaign. “Best of the World” will promote Pittsburgh and its specific offerings in performing
and visual arts, outdoor activities and children-oriented activities to outside markets.
Downtown and the Pittsburgh region continues to be seen as a must-see place to visit.
Page 20
Source: VisitPittsburgh
Competitive Set
United States
Comp Set Average
Louisville, KY-IN
Cincinnati, OH-KY-IN
Cleveland, OH
Indianapolis, IN
Memphis,TN-AR-MS
2011 OCCUPANCY
Milwaukee, WI
Columbus, OH
Detroit, MI
Charlotte, NC-SC
Baltimore, MD
Sheraton Station Square
Wyndham Grand Pittsburgh Downtown
Fairmont Pittsburgh
Renaissance Pittsburgh Hotel
Courtyard Pittsburgh Downtown
The Westin Convention Center Hotel
Hampton Inn & Suites Downtown
Omni William Penn Hotel
Doubletree by Hilton Hotel & Suites
Pittsburgh City Center
Pittsburgh Marriott City Center
Cambria Suites Pittsburgh at Consol
Hyatt Place Pittsburgh – North Shore
Residence Inn Pittsburgh – North Shore
SpringHill Suites Pittsburgh – North Shore
Philadelphia, PA-NJ
•
•
•
•
•
•
•
•
•
•
•
•
•
•
100%
2011 Pittsburgh Market
90%
Hotel
Occupancy vs.
80%
70%
60%
50%
40%
30%
20%
10%
0%
Pittsburgh, PA
Greater Downtown Hotels
Visiting Downtown & Entertainment
State of Downtown Repor t
Percent Occupancy
for Downtown Hotels 2010 vs. 2011
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
David L. Lawrence
Convention Center
■ 2010
Halls
2
Hall D
Certified
Square Footage
76,206
38,109
Hall E
Second Floor 3
Hall A
Hall B
Hall C
38,097
236,900
109,000
82,450
45,100
■ 2011
First Floor
JAN
DEC
Third Floor
Source: VisitPittsburgh, Smith Travel Research
Average Daily Rate for Downtown Hotels
$180
$160
$140
$120
$100
$80
$60
$40
$20
$0
■ 2010
3
Ballroom A
Ballroom B
Ballroom C
38 Meeting Rooms
Total
33,058
16,244
8,299
8,515
346,164
■ 2011
Conventions, Tradeshows
and Events
Year Events Attendance Total Visitors
JAN
DEC
2009
2010
183
176
500,390
382,234
764,837
633,042
2011
185
506,118
760,106
Source: David L. Lawrence Convention Center
Source: VisitPittsburgh, Smith Travel Research
Downtown Performing Arts
Venues and Attendance
Benedum Center
Byham Theater
Cabaret at Theater Square
Heinz Hall
O'Reilly Theater
Harris Theater
Trust Arts Education Center
August Wilson Center
Total
2010
Attendance
611,833
128,200
92,310
311,421
78,339
14,198
14,400
52,000
1,302,701
Downtown Arts and
Entertainment Venues
2011
Attendance
648,725
149,673
92,049
327,540
80,423
14,100
9,000
33,560
1,355,070
Source: August Wilson Center, CLO, Cultural Trust, PBT, PPT,
Pittsburgh Opera, Pittsburgh Filmmakers, PSO
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
707/709 Penn Gallery
Art Institute of Pittsburgh Gallery of Art
Bricolage Production Company
CAPA Gallery
Carnegie Science Center/Highmark SportsWorks
Children’s Museum of Pittsburgh
Fort Pitt Museum
Future Tenant: a space for art
Pittsburgh Playwrights Theatre Company
Senator John Heinz Regional History Center
SPACE Gallery
The Andy Warhol Museum
The ToonSeum
Wood Street Galleries
Xplorion
Page 21
Visiting Downtown & Entertainment
State of Downtown Repor t
Downtown Sports Venues and Attendance
2011
Consol Energy Center
Events
120
41
Attendance
1,343,992
754,592
Other Events
79
589,400
Pittsburgh Steelers
University of Pittsburgh Panthers
Other Events
20
8
8
4
1,106,682
504,279
368,022
368,022
Pittsburgh Pirates
80
80
1,940,429
1,940,429
Pittsburgh Penguins
Heinz Field
PNC Park
Source: Steelers, Pirates, Penguins, University of Pittsburgh, Consol Energy Center
Spotlight
Three rivers. Two Andys. One reinvented city. No wonder National
Geographic Traveler named Pittsburgh among the best places in the world to
experience in 2012. “On all counts, the Steel City’s transformation over
the past long concluded, this western Pennsylvania city changed jobs
and reclaimed major assets: a natural setting that rivals Lisbon and San
Francisco, a wealth of fine art and architecture, and a quirky sense of
humor,” writes the National Geographic Traveler.
“To be among 20 destinations worldwide selected for this ‘Best Of’
list is incredibly exciting. Those of us who live here know that the city’s
amazing amenities combine to create a tremendously desirable place
to live and visit,” said Craig Davis, president and CEO of VisitPittsburgh,
the official tourism promotion agency for the Pittsburgh region.
In addition to the National Geographic Traveler ranking, Pittsburgh was
ranked in the top ten of the best cities for sports, and as one of America’s
50 best cities for biking. These accolades continue to change the public
perception of Downtown and the Pittsburgh region as a whole.
Photo Credit: VisitPittsburgh
Downtown’s vibrant 14-block Cultural District is home to the highest
concentration of performing arts venues between New York City and
Chicago. Beautifully restored performance halls and contemporary
theater spaces offer more than 2,300 shows each year. Downtown’s
historic Market Square – Pittsburgh’s “piazza,” an award-winning public
space that is alive with restaurants, outdoor cafes and entertainment.
“For Pittsburgh to be included among the world’s most outstanding destinations speaks
volumes about the city’s journey over the last 30 years.” – Craig Davis, VisitPittsburgh
T R A N S P O R TAT I O N
Downtown Pittsburgh is the center of the region’s
transportation network. With major bus routes, free rail
service within the Golden Triangle and North Shore, direct
national train and bus service, and easy highway access to
the airport, all roads lead to and from Downtown.
279
Downtown Pittsburgh is only 16 miles, or a 20-minute drive, from Pittsburgh International
Airport (PIT).With service from 13 airlines moving 8,268,440 passengers in 2011, a
1.3% increase over 2010, PIT is served by 155 flights per day to and from 37 non-stop
destinations, including San Francisco, Las Vegas, Denver, Toronto, Boston and Paris.
579
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Eight airlines reported an increase in 2011 passengers with an
average growth of 16% over 2010. A recent study by the Allegheny
County Airport Authority indicates that the average airfare at
PIT is 9.91% lower than the national average of $334.78. The
success of PIT is getting noticed, PeoplExpress, a new start-up
low-cost carrier, recently announced its expected entrance
to PIT in September 2012 providing direct flights to Florida,
Rhode Island and Virginia.
Serving as the hub for Greyhound and AMTRAK service, the
Grant Street Transportation Center is the major transit center for
the region. Greyhound services 17 direct cities, providing access
to its more than 2,300 nationwide destinations, in addition to
two Direct Express routes with non-stop service to Philadelphia
and New York City. The addition of Megabus to the Pittsburgh
market over the past two years has provided fifteen low-cost
direct destinations and the company continues to look at access
to other markets. The Pittsburgh AMTRAK station services
five major cities through two routes, the Capital Limited and the
Pennsylvanian, with connection opportunities to other major
destinations around the country. AMTRAK’s weekday ridership
averaged 2,570 passengers in 2011, serving 133,855 total riders
at the Downtown Pittsburgh station, making it the fifth busiest
in Pennsylvania.
Even with the widely used public transit network, commuters
and residents have parking options in 38 garages and 31 parking
lots in the Greater Downtown vicinity. Parking in the Golden
Triangle can be a challenge, with many garages and lots at or near
maximum capacity on a given weekday. Waiting lists of up to four
years for parking leases are common at many garages within
the Golden Triangle, with an average cost of $245 per month.
The March opening of the North Shore Connector, now
known as TPlus, provides even easier access to an additional
5,000 lower-cost parking opportunities on the North Shore.
Page 24
Workers coming to Downtown from every direction now have
the opportunity to park on the North Shore and use the 1.2-mile
extension of the light-rail system at no additional cost to arrive
at their final destination.
A strong public transportation network is critical to the
success and vitality of Downtown Pittsburgh, with 54% of
Downtown workers using public transportation to commute
to work in 2010, a 20% increase over the same measure in
2003. Of the 98 Port Authority bus routes in service per day,
83 enter Downtown. Faced with mid-year fare hikes and a 15%
service reduction in March of 2011, the Port Authority only
saw a 2.47% decrease in ridership in 2011 over 2010. However,
Downtown is at risk of losing 35 routes entering the Golden
Triangle from outlying areas due to a proposed 35% reduction
of service, affecting up to 20,000 daily commuters that could
take place as early as September of this year.
Downtown will benefit from recently announced transportationrelated investment projects. The $3.8 million Downtown traffic
light improvement project will replace and improve traffic signals
and implement pedestrian crossing signals with countdown
features, all added benefits to pedestrians, bikers, walkers and
vehicular commuters.
The Port Authority and Downtown stakeholders have recently
embarked on the creation of a Downtown Circulation Study
to provide recommendations to improve bus and vehicular
circulation in and through Downtown. At the same time
preliminary discussions and conceptual studies have begun to
better connect Downtown and Oakland making travel between
the two population centers more convenient and efficient with
a bus rapid transit system.
Whether walking the one-mile distance between the fountain
at Point State Park and the Consol Energy Center, or biking
along the streets and other pedestrian corridors, it is as easy
to get around Downtown as it is to get to Downtown.
Workday & Weekend Average Totals
Weekday
Ridership
Weekend
Ridership
2011 ridership decreased by only 2.6% over
2010, even with a 15% service reduction.
Bus
Ridership
Rail
Ridership
205,000
185,000
165,000
145,000
125,000
182,573
135,981
2009
27,500
23,250
19,000
14,750
10,500
Incline
Ridership
2010
2011
23,972
11,946
2009
5,000
4,000
3,000
2,000
1,000
2010
2011
3,993
1,615
2009
2010
2011
Bus Routes Coming into Downtown
Express
6
4
10
4
24
North
South
East
West
Total
Local
14
12
24
9
59
Annual Ridership on Port Authority System
Bus
Rail
Incline
Total
2009
57,632,643
7,149,450
702,740
65,486,842
2010
55,290,371
7,012,931
644,986
62,950,298
2011
53,926,472
6,751,023
627,530
61,307,035
Source: Port Authority of Allegheny County
PIT Passenger Traffic
8,800,000
8,673,014
8,500,000
8,268,440
8,200,000
7,900,000
2008
2009
2010
2011
By the Numbers
Garages/Spaces/Avg Lease Cost
Lots/Spaces/Avg Lease Cost
Zip Cars
Sheltered Bike Stations
Downtown T Stations
Direct Destinations via Bus
Direct Destinations via Train
Direct Destinations via Air
Spotlight
Numbers
38/25,311/$236.05
31/10,367/$210.00
21
9
7
27
9
36
On March 25, 2012, the Port Authority’s
expanded light-rail system began
servicing the public for the first time.
Known as TPlus, the extension to the North Shore
provides access to an additional 5,000 parking facilities
that are of short supply in the Golden Triangle and the
growing entertainment and sporting venues that call
the North Shore home.
Financed primarily with the help of competitive federal
and state grant dollars specific to this project, the 1.2-mile
extension supported about 4,000 jobs through the
design and construction phases of the project, including
the boring of twin tunnels under the Allegheny River
and the ongoing construction of three new stations.
Because of underwriting by the Pittsburgh Steelers, Rivers
Casino, Pittsburgh Stadium Authority, and Alco Parking,
the free-fare zone in effect within the Golden Triangle
has been expanded to the North Shore. Commuters are
now able to take advantage of more affordable parking
options on the North Shore while quickly getting into
Downtown for work. Visitors coming Downtown to
attend major events at the many entertainment venues
will be able to park in one location within the free-fare
zone and travel quickly and easily to another.
Downtown stakeholders expect that the ease of access
to the North Shore, and more specifically the additional
parking, will decrease the impact that the many sporting
and entertainment events, in addition to weekday
commuter traffic, have on Downtown traffic circulation.
TPlus has expanded the boundaries of Downtown
and provides opportunities for future development at
“T” stations throughout the free service area.
D o wnt o wn
D e v el o pment
As evidenced by recent national and global accolades, Pittsburgh
has fared better in the global economic recession than many
other cities. While access to capital was hindered locally,
developers and investors found ways to keep projects alive.
Downtown has seen a tremendous amount of public and private
investment in the past decade. From January 2006 through
December 2011 alone, over $4.8 billion worth of investment
projects have been completed, are actively under construction,
or have been announced in Greater Downtown.
Capital investments in Downtown are important no matter
the size because they show Downtown continues to evolve for
a variety of users. Projects like Point Park University’s Village
Park and One Fifth Avenue, a combined $8.5 million investment,
change the urban fabric much like The Tower at PNC and
RiverVue Apartments, which account for $445 million in total
investment. 2012 has brought the start of construction on the
Downtown Preservation Project, investing $9 million into
key properties along the Fifth and Forbes corridor to bring
the upper-floors compliant with today’s codes and façade
improvements to restore the historically sensitive buildings.
The number of building permits issued in Downtown has
increased from 96 in 2009 to 169 in 2011. The cost of
improvements recorded at the time of application dropped from
$312,479,507 to $49,432,238 in the same time period; however,
it is important to note the permit for the Consol Energy Center
was recorded in 2009 with a cost of $220 million. Permitted
projects in 2011 included sidewalk and greenscape improvements
at Fifth Avenue Place and PNC Plaza, commercial space build-out
at the historic Burke Building at 209 Fourth Avenue, and the
conversion of 806 Penn Avenue into condominiums.
Center. Announced in 2011 were the residential conversion
of One Fifth Avenue, two phases of facility improvements by
The Cultural Trust, and the final phase of the Point State Park
renovation with the rebuilding of the iconic fountain at the point.
With anticipation, Downtown awaits continued investment on
the North Shore with additional retail, restaurants, and office
space to supplement the popular Stage AE that was recently
completed. The beginning of demolition of the Civic Arena in
the Lower Hill has set the stage for what will become a 28-acre
mixed-use development that bridges the gap between Downtown
and the Lower Hill District. And the restoration of Mellon
Square will bring back to life a much-needed public space to
support the growing number of Downtown residents and
visitors, while providing a much needed respite for Downtown
office workers.
Distribution of
Active and Announced Projects
$233,200,000
While Downtown also felt the tightening of the credit market
that halted a few redevelopment projects, especially in the
residential sector, many significant projects forged ahead and
were completed in 2011, including the restoration and renovation
of 308 Forbes Avenue into the Penn Avenue Fish Company with
two apartments on the upper floors, Otto Milk Condominiums
in the Strip District, and the official opening of the riverfront
park and trail in front of the David L. Lawrence Convention
$259,640,000
$201,500,000
$117,500,000
$24,400,00
$553,500,000
$806,766,000
■ Education/Civic
■ Hotel/Entertainment
■ Mixed Use
■ Office/Retail
■ Park/Trail
■ Residential
■ Transportation
Page 27
Downtown Development
State of Downtown Repor t
Total Complete, Active & Planned
Investment Since January 2006
Percent Change in Complete Active and
Announced Downtown Investment
Year
2006
2007
2008
2009
2010
2011
50%
Investment
$3,376,238,333
$3,698,999,879
$4,478,643,333
$4,779,346,430
$4,525,782,615
$4,850,478,697
These values fluctuate as
projects move into and
out of the pipeline. The
global economic downturn
affected local projects as
evidenced in the decrease
in project value between
2009 and 2010.
Source: PDP
40%
30%
20%
Building Permit Issuance in Downtown
Year #Permits
2009
96
2010
137
2011
169
$4.8 Billion
Recorded Cost
$312,479,507
$61,851,741
$49,432,238
Source: Bureau of Building Inspections
and Department of City Planning
The recorded cost for
building permits in
Downtown was much
greater in 2009 due to the
issuance of a permit for
the construction of the
Consol Energy Center.
10%
$3.3 Billion
%0
2007
2008
2009
2010
2011
Source: PDP
“It takes a community of dreamers and doers to build an Academic
Village,” said Paul Hennigan, president of Point Park University.
“The successes to date, and those yet to come, are a testament to
our partners as we all make the Academic Village a reality.”
Spotlight
There’s a village under construction in Downtown
Pittsburgh – the Academic Village at Point Park
University, to be exact. Passersby have noticed
the changing landscape along the Boulevard of the
Allies and Wood Street corridor over the past year.
In September 2011, Point Park University opened
the Village Park, a 12,000 square foot outdoor
urban space featuring a canopy of trees, plantings,
a glass stair tower, dramatic water feature and a
restaurant, Osteria 100, with premier indoor and
outdoor seating.
Photo Credit: Jim Schafer
The Village Park is one of several academic and economic
development projects of the Academic Village Initiative. Formerly
the site of a gas station and parking lot, the Village Park continues
the transformation of the Wood Street corridor into an inviting
urban campus and reinvigorated neighborhood. In addition to the
park, Point Park has completed the restoration and renovation of
turn-of-the-century buildings along the Boulevard of the Allies into
additional student housing.
Other Academic Village projects include Wood Street streetscape
enhancements (completed in Spring/Summer 2012), the new
Pittsburgh Playhouse (to be constructed along Forbes Avenue)
and a new Student and Convocation Center along the Boulevard
of the Allies.With the completion of these projects, construction
and design spending is expected to add nearly $280 million to
the local economy and result in the creation of 3,700 full- and
part-time jobs through direct and indirect spending over the
lifetime of the projects.
2012 Investment Map
279
579
ns
mo
Co
Cl
iff
Av
e
er
Av
e
W
ylie
Bus
way
l
eP
Re
ed
St
d
Bigelow Blv
Fo
res
id
East
Libe
rty
Ross St
Grant St
Smithfield St
W
eb
st
Ave
Pen
n
Ave
B St
OFFICE & RETAIL PROJECTS
Second Ave
Try St
Market St
Be
dfo
rd
Av
e
n St
Mulb
erry
Wa
y
Pl
fron
t
er
ty
Av
e
Cherry Way
Stanwix St
William Penn Place
nA
ve
Pe
n
Lib
Wood St
vd
Bl
e
sn
s
ue
as
376
13 21st and Smallman
17 North Shore “Option Area” Development
82 Wholey Building Conversion
107 One Smithfield Street
110 The Tower at PNC Plaza
114 Burke Building
125 PPG Place Upgrades
ge
rid
tB
99
Smithfield Street Bridge
ge
For
t
21
Liberty Bridge
yp
tB
re
e
Fo
r
St
th
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n
Commonwealth Pl
t
ff S
ee
Str
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alk
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Blu
376
MONONGAHEL A RIVER
Pitt
St
e St
No
rth
ion
Mar
Prid
St
dem
Aca
Fort Pitt Blvd
136
St
ory
Vick
th
W Carson
138
Firstside Park
First Ave
21 Mon Wharf Trail: Switchbacks
105 Mellon Square Park
131 Allegheny Landing Park Restoration
134 Point State Park Fountain Rehabilitation
135 Point State Park Connector
10
78
First Ave
107 104
St
837
15 Civic Arena Site and Lower Hill Redevelopment
26 Cultural District River Front Development
47 The Gardens
118 Strip Produce Terminal Redevelopment
119 Strip District Development
121 PNC Triangle Building
124 811 Liberty Avenue
127 Downtown Preservation Project
137 Liberty Avenue Cigar
142 Regional Enterprise Tower
on
MIXED USE PROJECTS
ens
Stev
106
PARK & TRAIL PROJECTS
r
Third Ave
58
Blvd of the Allies
117
t St
us
Loc
yD
Fourth Ave
35
125
109
128
nult
77
Seit
McA
116
135
O H IO RIVER
Forbes Ave
z St
ve
es A
St
Point State
Park
110
n St
tso
Wa
b
For
giss
134
47
Pl
ve
hA
d St
Market
Square
579
Fift
Fifth Ave
114 127
92
Mellon Green
Shin
Dr
279
105
Oliver Ave
121
St
53
Carnegie
Science
Center
137
on
Sq
Boy
45
ark
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115
th
gt
t
Fif
St
St
am
ee S
x
th
hin
t
tree
ell S
Colw
ay
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CONSOL
Energy
Center
Mag
wi
Six
Pl
Mellon
Square
Pl
cil
ve
eA
ntr
ath
142
or
dS
Ce
W
as
Ch
Sixth Ave
t
e
15
Seventh Ave
60
101
124
129
27
45 North Shore Connector and Light Rail Stations
96 Liberty Tunnel Rehabilitation
99 10th Street Bridge Rehabilitation – Phase 1
108 Sister Bridges Rehabilitation
109 Traffic Signalization Upgrade (CBD)
128 Bus Rapid Transit Corridor
141 Allegheny Valley Commuter Rail Line
eS
eux
mi
an
St
St
Civic
Arena
St
Vin
t
Mario L
th
130
120
TRANSPORTATION PROJECTS
aw
f
579
St
Ce
St
th
in
ge
Al
th
Katz
rk Plaza
er
sP
l
102
Cr
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Te
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rid
id
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Dr
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ny
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Ca
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ay
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Ave
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leg
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St
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Re
le
da
Ca
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r
be
sk
ro
45
el
David L. Lawrence
Convention Center
108
Ro
PNC Park
e
az
M
St
ay
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oll
kN
uc
Ch
Ar
65
llma
on
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279
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ter
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13 82 103 118 119
Ra
St
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d
nd
Sa
d
Fe
nt
St
M
65
27 The Granite Building
35 Commonwealth Building
60 L’Enfant Lofts
92 RiverVue
101 711 Penn Avenue
103 Residences at the Strip / Cork Factory II
115 One Fifth Avenue
116 201 Stanwix
117 First Avenue Townhomes
120 907 / 909 Penn Avenue
138 John P. Robin Building
de
s
on
m
73
t
ar
Ree
ay
uW
jo
Ca
a
ch
er
M
le
a
ind
RESIDENTIAL PROJECTS
An
m
s
on
mm
o
SC
th S
IN THET STRIP DISTRICT
S ma
Co
Ri
uq
W
dg
77 Point Park University: Pittsburgh
Playhouse Complex
78 Point Park University: Student Center
102 Connelly Building / Pittsburgh Green Innovators
106 Point Park University: Wood Street
Enhancements
113 933 Penn Avenue / Kaplan Career Institute
129 Cultural Trust Facility Improvements – Phase 1
130 Cultural Trust Facility Improvements – Phase 2
279
tD
St
ve
eA
teen
St
s
on
m
m
Thir
ay
W
n’s
re
ild
Ch
ch
Ar
EDUCATION & CIVIC PROJECTS
E
Sq
ny
he
leg
Al
N
E
m
Co
96
Station Square
376
837
} $4,996,878,697
E Carson
PROJECTS COMPLETED $2,800,372,697
PROJECTS ACTIVE $590,616,000
PROJECTS ANNOUNCED $1,605,890,000
* This ongoing list represents active and publicly announced projects in Downtown Pittsburgh as of 12/31/11. 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. This list is compiled and maintained by the Pittsburgh Downtown Partnership.
Omissions are purely clerical, and no malice was intended.
on
ars
EC
837
St
HOTEL & ENTERTAINMENT PROJECTS
St
TOTAL INVESTMENTS
JANUARY 2006 THROUGH DECEMBER 2011
Italic Font I Conceptual Projects
Regular Font I Projects that are in Planning
or Under Construction
53 Wyndham Grand Pittsburgh Renovations
58 Ross Street Kratsa Hotel Development
62 Convention Center Hotel
73 Fairfield Inn & Suites – Federal Street
104 Fort Pitt Boulevard Hotel
136 Riverhounds Stadium
Acknowledgements
The Pittsburgh Downtown Partnership thanks the following organizations and
individuals for their support in producing the 2012 State of Downtown Pittsburgh:
The State of Downtown
Pittsburgh was generously
funded by:
Supporting Sponsor
INFORMATION SOURCES
PDP BOARD
Alco Parking
Allegheny Conference on Community Development
Allegheny County Airport Authority
AMTRAK
August Wilson Center for African American Culture
BikePGH
Bureau of Labor Statistics
CBRE
City of Pittsburgh
City of Pittsburgh Bureau of Building Inspections
City of Pittsburgh Department of City Planning
City of Pittsburgh Police Department
Consol Energy Center
David L. Lawrence Convention Center
DemographicsNow
Fortune.com
Grant Street Associates
Grant Street Associates – Cushman Wakefield
Green Building Alliance
Greyhound
Grubb and Ellis
Jones Lang Lasalle
Kathy Wallace
Megabus
NOAA
Penn Renaissance, LP
PGHSnap
Pittsburgh Ballet Theatre
Pittsburgh Business Times
Pittsburgh CLO
Pittsburgh Cultural Trust
Pittsburgh Filmmakers
Pittsburgh International Airport
Pittsburgh Opera
Pittsburgh Parking Authority
Pittsburgh Parks Conservancy
Pittsburgh Penguins
Pittsburgh Pirates
Pittsburgh Public Theater
Pittsburgh Steelers
Pittsburgh Symphony Orchestra
Pittsburgh Today
Point Park University
Port Authority of Allegheny County
Project Pop-Up: Downtown
Smith Travel Research
The PNC Financial Services Group
Urban Redevelopment Authority
VisitPittsburgh
Western Pennsylvania Conservancy
Western Pennsylvania Multi-List Service
Zipcar Pittsburgh
Thomas Harrington, Chair
Grant Mason, Vice Chair
William Clarkson, Jr., Treasurer
E. Gerry Dudley, Secretary
Jim Blue, BNY Mellon
Richard Beynon, Beynon & Company
Mark Broadhurst, Eat’n Park
Hospitality Group Inc.
Herbert Burger, Speedwell Enterprises
Jamie Campolongo,
Pittsburgh Transportation Group
David Case, Production Masters, Inc.
Kevin Clarke, Grubb & Ellis Company
Debra Donley, Hertz Gateway Center
Eric Feder, Allegheny County
Mariann Geyer, Point Park University
David Gleason, First Lutheran Church
Thomas Grealish,
Henderson Brothers, Inc.
Andre Kimo Stone Guess,
August Wilson Center for African American Culture
Melanie Harrington, Vibrant Pittsburgh
Larry Jackson, Acusis, LLC
John Java, BNY Mellon
Kevin Joyce, The Carlton Restaurant
R. Daniel Lavelle, City of Pittsburgh
Kathleen McKenzie,
West Penn Allegheny Health System
Barbara McMahon,
Renaissance Pittsburgh Hotel
Kevin McMahon, Pittsburgh Trust
for Cultural Resources
Clare Meehan, AlphaGraphics
Tom Michael, Larrimor`s
Romel Nicholas, Sr. ,
Gaitens, Tucceri & Nicholas, P.C.
David Onorato,
Pittsburgh Parking Authority
Joseph Petak, CB Richard Ellis
Lucas Piatt, Millcraft Industries
John Roach,
Magee-Womens Hospital of UPMC
F. Brooks Robinson, Jr. , Commonwealth
of PA, Office of the Governor
Janice Smith, Cohen & Grigsby, P.C.
Merrill Stabile,
ALCO Parking Corporation
J. Randall Staggers, Highmark
Craig Stambaugh, UPMC
Aaron Stauber,
Rugby Realty Company, Inc.
Kyra Straussman, Urban Redevelopment
Authority of Pittsburgh
Thomas VanKirk,
Buchanan Ingersoll & Rooney
Jake Wheatley,
Commonwealth of Pennsylvania
George Whitmer, PNC Bank
Yarone Zober, City of Pittsburgh
PDP STAFF
Jeremy Waldrup, President and CEO
Lucinda G. Beattie, Vice President of Transportation
Brooke M. Fornalczyk, Director, Marketing and Communications
Robyn L. Williams, CPA, CMA, Director of Finance
Kathleen Zawrotniak, Program and Events Manager
Geof Comings, Economic Development Manager
Brian Kurtz, Research Project Manager
Lynda Fairbrother, Administrative Assistant
Paul J. Hochendoner, Manager, PDP Clean and Street Team Programs
Photography: All photography is by John Altdorfer, unless otherwise noted
Graphic Design: FSC Marketing + Digital
For Errata,Visit: DowntownPittsburgh.com/SODP
Page 29
Downtown is essential to the region –
the metropolitan heartbeat where
business, culture and entertainment intersect.
THE CENTER OF OPPORTUNITY
Pittsburgh Downtown Partnership
925 Liberty Avenue, 4th Floor
Pittsburgh PA, 15222
www.DowntownPittsburgh.com