'Center Of Energy' Development Plan At Civic Arena Site Unveiled
PITTSBURGH (Newsradio 1020 KDKA) – Four years after U.S. Steel pulled out of plans to anchor the massive redevelopment of the former Civic Arena site, the Pittsburgh Penguins have announced two new developers and a new master plan for the 28 acre tract.
“There is development momentum across the city, and our development is the center of energy that re-connects the Hill District with downtown, and creates an economic And investment engine that will deliver millions in direct investment into the community,” said Penguins president and CEO David Morehouse.
The revised master plans call for a mix of residential, commercial/office, entertainment, food venues, retail, parks, and an innovative energy hub to be dispersed throughout the development.
The Penguins say the project is anticipated to attract more than $750 million in private investment, generate over 4,000 construction and 3,000 permanent jobs and generate around $25 million in annual tax revenue. In addition, $25 million is expected to be generated for the Greater Hill District Reinvestment Fund to help development in the middle and upper Hill District.
The first phase of 250 housing units is expected to break ground this Fall. The first retail and office phase will start construction Winter 2019.
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