Piatt Companies Gets Green Light for Pittsburgh Development Project

Piatt Companies Gets Green Light for Pittsburgh Development Project

A $600 million proposal to transform a "derelict" industrial site on Pittsburgh’s North Side into a riverfront destination featuring a massive Ferris wheel has taken a significant step forward.

According to the Pittsburgh Post-Gazette, the Pittsburgh Planning Commission unanimously approved the master plan for the Esplanade following a recent 75-minute hearing. This approval, which allows Piatt Companies to proceed with the 15-acre redevelopment along the Ohio River, comes after strong support from Manchester community groups and residents, who praised the project as a potential catalyst for revitalizing the neighborhood and advancing affordable housing initiatives.

Rendering of the Esplanade development in Pittsburgh, Pennsylvania.
(Rendering courtesy of Piatt Companies) A $600 million proposal to transform a "derelict" industrial site on Pittsburgh’s North Side into a riverfront destination featuring a massive Ferris wheel has taken a significant step forward.

Lucas Piatt, CEO of Piatt Companies, emphasized the inclusive vision for the Esplanade in his remarks, calling it “a project for everyone” and highlighting the eight years of effort his team has dedicated to its development.

“We want to create a wonderful destination for the region,” he said.

According to the Post-Gazette, the Esplanade presents a transformative opportunity to revitalize the Manchester neighborhood and unlock significant growth in the Chateau riverfront area, potentially paving the way for hundreds of acres of economic development, according to Piatt.

On the same day the Pittsburgh Planning Commission approved the master plan for the $600 million project, the city’s Urban Redevelopment Authority (URA) unveiled plans to establish a Manchester-Chateau Transit Revitalization Investment District (TRID). This district would help fund nearly $54 million in infrastructure and other improvements tied to the development.

Riverbank of Thames River in London.
The proposed Manchester wheel, which will be like London’s famous Ferris wheel shown above, pays homage to George Washington Gale Ferris Jr., the inventor of the Ferris wheel, who once lived on Pittsburgh’s North Side.

The project’s highlight is a massive Ferris wheel, reminiscent of similar attractions in London, Paris, Chicago, and Seattle, standing up to 200 feet tall. The proposed Manchester wheel pays homage to George Washington Gale Ferris Jr., the inventor of the Ferris wheel, who once lived on Pittsburgh’s North Side.  

The first phase of the redevelopment includes a 19-story, 408-unit apartment tower with 308 parking spaces, alongside “The Current,” a three-story, 64,256-square-foot feature building housing a food emporium, a four-seasons garden, restaurants, and an amphitheater. Other features include a relocated riverside trail, a 112-slip marina, and 17 floating homes on barge-like bases. A 651-space parking garage with additional retail will complete this phase, with potential for residential or office expansion above it in the future.

Phase two plans include a “destination aquarium” anchoring the west end, a 14-story condominium tower with 126 units, and a 19-story, 409-unit apartment building. Across all phases, 20% of the apartments will be designated as affordable housing for households earning 80% of the area median income, according to the Post-Gazette.

The URA’s proposed TRID would redirect 75% of new tax revenue generated by the development toward infrastructure improvements, while the remaining 25% would benefit the city, Allegheny County, and the Pittsburgh school district. Of the projected $53.9 million in funds, $40.4 million would support on-site development, including affordable housing, parking, and transit accessibility, with $13.4 million earmarked for off-site enhancements like pedestrian and bike connections, street conversions, and gap financing for affordable housing projects.

The Esplanade, slated for completion by 2027 or 2028, is expected to create over 9,300 construction jobs and 4,500 permanent jobs, generating significant economic benefits for the region. The redevelopment will also transform a former industrial brownfield west of the West End Bridge into a vibrant riverfront community featuring apartments, retail, an aquarium, a marina, and floating homes.  

The project’s centerpiece, the Ferris wheel with LED lighting, will be positioned on the east end, offering views of Downtown Pittsburgh’s skyline. Community members have expressed optimism about the project’s impact, according to the Post-Gazette, envisioning it as a symbol of Pittsburgh’s revitalization and a potential new backdrop for high-profile events like Monday Night Football.

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