Millcraft Investments is now set to move forward on its development plans for the 1.22-million-square-foot Esplanade mixed-use Project in Pittsburgh, after reaching an agreement with the Urban Redevelopment Authority of Pittsburgh on the purchase of a 5.59-acre site in Chateau for $1.5 million. This site will be used as part of Millcraft’s previously purchased lands, making the acreage for the project a total of 15 acres.
Located along the Ohio River, on the northern side of River Casino and the west end bridge in the Chateau neighborhood, the Esplanade mixed-use Project is aimed at converting a collection of underutilized industrial brownfield sites into a transit-oriented district, consisting of a wide variety of developments including affordable housing.
Scope of the Esplanade mixed-use project
New renderings of the Esplanade mixed-use project were shared by Millcraft Investments, showing what the Riverfront would look like, just north of the Rivers Casino. This initial phase of the project is estimated at $236 million and it will cover the development of a 300-unit apartment building consisting of affordable and market-rate units, and a retail component; a Ferris wheel, rising to a height of 53 meters ; a 45,000 square foot riverside pavilion building; a public garage, with 550-parking spaces; a marina and public pier, a medical and tech space, an aquarium and a hotel.
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The 300-unit apartment building will have 60 units set aside for households earning 80% or less of the area median income. Greg Flisram, the CEO of the Urban Redevelopment Group said, everyone was excited to witness the advancement of the Esplanade mixed-use project, which also includes affordable housing, and how this project will serve in reconnecting the neighborhood to a revitalized riverfront.
Environmental and recreational improvements are also planned for Esplanade. These improvements would include relocating and enhancing the Three Rivers Heritage Trail, stabilizing and re-vegetating the river’s edge, restoring native plants, cultivating green infrastructure, and maintaining active and passive open space. The open space will house retail kiosks to be used as incubators, splash park & ice-skating amenities, an amphitheater for local performances, and historical/educational placards with emphasis on local figures and events
