After nearly nine years of planning, persisting through the pandemic, and market challenges, construction will begin on the long-anticipated project that officials hope will transform riverside industrial property with new energy, connectivity and economic opportunity.
PITTSBURGH ― Piatt Companies broke ground Dec. 1 in the city’s Chateau neighborhood on the 15-acre,$740 million Esplanade project
After nearly nine years of planning, persisting through a global pandemic and market challenges, construction will begin to prepare the site for vertical construction. The long-anticipated project will transform riverside industrial property with new energy, connectivity and economic opportunity.
“The Esplanade marks the beginning of a transformative investment made possible through years of disciplined planning, sustained effort and a level of collaboration that reflects true public partnership,” said Piatt CEO Lucas Piatt in a press release.
“Advancing a project of this magnitude requires coordination across government, private industry, labor and community stakeholders – each contributing to a shared vision for growth, opportunity and long-term value.”
Reflecting the collaborative effort of the project, Piatt was joined by Gov. Josh Shapiro, Lt. Gov. Austin Davis, LaShawn Burton Falk of Manchester Citizens Corporation, Allegheny County Executive Sara Innamorato, Pittsburgh Mayor Ed Gainey, Mayor-Elect Corey O’Connor, City Council President Daniel Lavelle, state Rep. Aerion Abney, and Tom Link of the Urban Redevelopment Authority. They were also joined by community organizations, trade leaders and elected officials.
The project, as rendered by AE7 architects, could include:
- Up to 750 rental apartments, from affordable to families making 80% of the area’s median income to luxury-end units
- 126 riverfront condominiums
- 160,000 square feet of retail
- 120,000 square foot innovation workspace
- A splash park that becomes an ice skating ribbon in colder months
- Upgrades to the Three Rivers Heritage Trail
- 225-key hotel
- Marina with houseboats, leased and day slips, a marine safety facility and a public pier
- The Current: a dining culinary hub with a riverside amphitheater
Esplanade will also include a Ferris wheel with climate-controlled cabs and experiential entertainment options, while also paying homage to its innovator, George Washington Gale Ferris, who lived on the Northside.
The Economy League of Greater Pittsburgh did an economic analysis of the Esplanade and predicts it will support 9,300 jobs during construction, 4,500 permanent jobs, and contribute $547.7 million to the regional economy and generate $1.5 billion in additional spending locally.
“Our company has a history of taking on complex projects because the rewards are shared across the community through jobs, amenities and reinvestment,” said Piatt Companies Co-Owner and President of Piatt Hotel Group, Marcus Piatt. “We don’t pursue projects because they’re easy – we do it because we love Pittsburgh. This development brings together our full real estate expertise – site development, residential, hospitality, retail and office – along with our vertical integrated businesses in one next-generation riverside community that will reconnect the river to the neighborhood and create a true destination for both locals and visitors.”
The project will be done in phases, with Mascaro Construction beginning site work to prepare the site for vertical construction. Site work is expected to take 12-14 months and will include razing existing buildings, relocating and installing underground utilities, and filling the site above the flood plain.
Concurrently, the project team will go into final design of the buildings to be built in the next phase, including the Ferris wheel, apartments, retail, parking garage and the Current. Construction is expected to begin on that phase in 2026 and is anticipated to be open in 2028. The condominium building will be built shortly after those buildings.
The second phase of vertical construction is expected to begin in 2027 and will take approximately 24 months to complete, anticipated to be open in 2029. This phase will include additional housing, a potential innovation workspace, a hotel and a specialty entertainment destination.
