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20 STATE OF DOWNTOWN PITTSBURGH19 TABLE OF CONTENTS For the past eight years, the Downtown Partnership has been pleased to produce the State of Report. This annual compilation and data analysis allows us to benchmark our progress, both year over year and in comparison to peer cities. In this year’s report, several significant trends came to light helping us identify unmet needs and better understand opportunities for developing programs and initiatives in direct response to those challenges.

Although improvements to the built environment are evident in nearly every corridor of the Golden Triangle, significant resources are also being channeled into office property interiors to meet the demands of 21st century companies and attract a talented workforce to Pittsburgh’s urban core. More than $300M has been invested in Downtown’s commercial office stock over the 4 ACCOLADES AND BY THE NUMBERS last five years – a successful strategy drawing new tenants to Downtown and ensuring that our iconic buildings will continue to accommodate expanding businesses and emerging start-ups.

OFFICE, EMPLOYMENT AND EDUCATION Downtown experienced a 31% growth in residential population over the last ten years, a trend that will continue with the opening 6 of hundreds of new units over the next couple of years. Businesses, from small boutiques to Fortune 500 companies, continued to invest in the Golden Triangle in 2018 while Downtown welcomed a record of visitors and new residents. HOUSING AND POPULATION 12 Development in Downtown is evolving and all of these investments combine to drive the economic vitality of the city, making Downtown’s thriving renaissance even more robust.

16 RETAIL AND RESTAURANTS Sincerely,

Jeremy Waldrup Lucas Piatt 20 HOTEL, CULTURE AND ENTERTAINMENT President and CEO Chairperson

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E CARSON ST BY THE ACCOLADES NUMBERS OFFICE, EMPLOYMENT & HOUSING & RETAIL & EDUCATION POPULATION RESTAURANTS PITTSBURGH IS THE

#1 CITY IN AMERICA FOR JOBS – GLASSDOOR, 2018 ONE OF AMERICA’S MOST

(OUT OF 8) – BROOKINGS INSTITUTE, 2018 113K workers 15,860 residents 66 outdoor cafés with DIGITALLY INCLUSIVE TECH CITIES 1,360 dining chairs 35M square feet of 7K residential units TOP TECH CITY HOTSPOT (OUT OF 15) – FORRESTER, 2018 #8 BEST METRO rentable office space 64% of restaurants and 4K residential units 69% of retailers Golden Triangle Class A in the pipeline are locally owned AREA IN THE COUNTRY FOR MINORITY ENTREPRENEURS – LENDINGTREE, 2019 #20 (OUT average asking rate = $29.61 per square foot (1Q 2019) Average one-bedroom rent: 42 retail and $1,627 restaurant openings OF 40) MOST VIBRANT ARTS COMMUNITIES IN AMERICA - SMU NATIONAL CENTER Golden Triangle Class B in 2018-2019 average asking rate = $20.95 Average two-bedroom rent: per square foot (1Q 2019) $2,051 FOR ARTS RESEARCH, 2018 #3 COOLEST CITY IN THE WORLD – NATIONAL 5 Fortune 500 Companies totaling $87.8B in revenue GEOGRAPHIC, 2019 #2 MOST LIVABLE CITY IN AMERICA - THE ECONOMIST, 2018 Ranked 13th in venture capital investment dollars BEST U.S. CITY FOR MILLENNIALS - APARTMENTLIST.COM, 2018 #2 SAFEST per capita nationwide HOTEL, CULTURE & ENTERTAINMENT 95K college students within PLACE & AND MOST AFFORDABLE PLACES TO LIVE – REALTOR.COM, 2019 PEOPLE 10 of Downtown ENVIRONMENT THAN ANY OTHER U.S. CITY – LENDINGTREE, 2019 STAY IN PITTSBURGH LONGER TRANSPORTATION & CONNECTIVITY 6K hotel rooms TOP AMERICAN FOOD CITY – AF&CO, 2019 #7 (OUT OF 10) TOP FOOD CITIES 1,122 hotel rooms in the pipeline TO VISIT – BBC, 2019 #11 BEST CITY FOR RECREATION – WALLETHUB, 2018 #25 47.25 acres of park space 3M arts and cultural events visitors 81% of all Energy Star (OUT OF 182) MOST FUN CITY IN AMERICA – WALLETHUB, 2018 PITTSBURGH certified space in 12.8M weekday alightings 13.4M professional sports Allegheny County visitors INTERNATIONAL AIRPORT RANKS #5 – TRAVEL + (offs) at Golden Triangle is Downtown (8.6M TOP DOMESTIC AIRPORTS square feet) bus stops in 2018 940K visitors to the David L. Lawrence Convention Center LEISURE, 2018 #4 MOST CARING CITY IN THE U.S. – WALLETHUB, 2018 Walk Score: 99 Transit Score: 100 Bike Score: 87

4 5 OFFICE, EMPLOYMENT, AND

TOP FIVE EMPLOYMENT SECTORS FINANCE AND INSURANCE SERVICESPROFESSIONAL FINANCE & INSURANCE MANAGEMENT OF COMPANIES ACCOMMODATION & FOOD SERVICE EDUCATION HEALTHCARE AND SOCIAL ASSISTANCE

GOLDEN TRIANGLE OFFICE MARKET LEASES, EXPANSIONS, AND PURCHASES The City of Pittsburgh closed on purchasing the newly renovated 2018 started off with uncertainty in the Golden Triangle as several office complex at 420 for $174 per square foot. companies announced office consolidations including PNC vacating M&J Wilkow completed major renovations to the 155,500 square 120,000 square feet at recently renovated 20 Stanwix, BNY Mellon’s foot building including a roof-top deck, first floor tenant lounge, and move from freeing up 300,000 square fitness facility. In 4Q 2018, McKnight closed on purchasing the Bank feet, and companies such as PricewaterhouseCoopers and 4moms Tower for $60.32 per square foot and is planning to invest at least advertising large subleasing opportunities. Corporate right-sizing $7M to renovate the building. Microsoft also recently expanded their has impacted the office market nationally resulting in increasing footprint in the Golden Triangle by opening a new 10,000 square foot vacancies and smaller lease transitions. Fear of rising vacancies 87.1% office at Liberty Center, another tower benefiting from investments by 28.3% began to lessen throughout 2018 as the market gradually moved 14.4% 6.8% 9.4% CBD CLASS 7.9% their owners, CBRE Global Investors. towards positive absorption. Companies expanding their footprint A DIRECT in the Golden Triangle, such as JP Morgan Chase’s expansion at OCCUPANCY RATE 2018 was nothing less than a banner-year for the Downtown Fringe Source: OnTheMap, 2015 and at the Union (1Q19 CBRE) in terms of new leases and development announcements. In 3Q 2018, Trust Building among other expansions and relocations, have helped Facebook announced that the company’s Oculus division will lease to keep Class A vacancies from rising to excess, increasing just over the entirety of the 105,000 square foot District 15, one of the largest 1% throughout 2018. $29.61 lease transactions in the past five years. Bombardier Transportation occupied 90,000 square feet in the former Seagate building at One Despite a slight increase in vacancy in Class A office space, rental CBD CLASS A AVERAGE Waterfront Place in the Strip District, having relocated many of their rates in the Golden Triangle have remained robust throughout 2018. business divisions from their suburban office in West Mifflin. Limbach Class A space reached record-level rates at $30.35 per square foot LEASE RATE (1Q19 CBRE) 640K SF Holdings Inc. also announced plans to relocate their headquarters to in 4Q 2018 with Trophy Class A space in the Golden Triangle reaching One Waterfront Place. Both of these companies touted access to the over $33 a square foot as reported by CBRE Research. Rents have NEW LEASES Golden Triangle and the available talent pool from nearby universities remained strong as building owners continue to realize the benefit 511K SF as major reasons for their relocations. of investing in building amenities and tenant improvements in order 1.2M SF RENEWALS/EXPANSIONS to keep up with the demand for high-quality office product. Nearly TOTAL GREATER DOWNTOWN LEASE One of the biggest announcements from 1Q 2019 was Fortune 500 $300M has been invested into Golden Triangle existing office space Corp’s commitment to 80,000 square feet at 30 Isabella. The over the past five years with at least $140M of announced upgrades in TRANSACTIONS 35.5M IN 2018 LEASABLE SQUARE company has plans to bring 250 people to its new home the pipeline. Multi-million dollar tenant improvements in the Grant joining fintech company Affirm who also announced leasing 20,000 Street corridor, as well as 11 and 20 Stanwix, are recent examples of (JLL) FEET IN GREATER DOWNTOWN, 48% square feet of space with options to expand as the company grows to capital investment in older building stock paying off. The Golden add 500 employees over the next five years. 2018 was an active year Triangle office inventory will need to continue to invest in tenant OF THE PITTSBURGH OFFICE MARKET for Nova Place as Databank Holdings renewed and expanded their amenities to remain competitive with several new construction (JLL, CBRE) lease to 38,000 square feet, Pittsburgh Technology Council moved projects developing in the Downtown Fringe, exceeding over 3.1M from their South office occupying 9,000 square feet, and square feet in active and announced projects. Oracle confirmed a commitment to take up to 10,000 square feet at Nova Place.

6 7 The

OCCUPANCY AND RENTAL RATES SPOTLIGHT IN PEER CBDS 4Q18 2018 CLASS A OCCUPANCY (%) KEY 2018 CLASS A ASKING RENT ($) 90.7 AUSTIN CORRIDOR UPDATES $61.65

Grant Street is the grand boulevard that serves as the hub 88.3 Union Trust Building of government and legal business in the heart of Downtown $27. 57 while also home to the headquarters of US Steel and one 87.1 of the region’s largest employers, BNY Mellon. In recent CHARLOTTE years, the architecturally significant buildings along the $33.90 street and in surrounding blocks have seen significant 82.9 investments in renovations and in what has been described MAJOR SALES $22.85 as “an amenities arms race." TRANSACTIONS: 2018 87.8 420 Boulevard of the Allies to The most recent investments along the corridor include: $25.73 City of Pittsburgh • $50M by Shorenstein Realty to One Oxford Centre including 89.2 COLUMBUS common space upgrades featuring a conference center, $27.5M $25.51 collaboration areas, food hall, and organic juice bar. $174/SF 91.1 • Rugby Realty invested $1M in the Building to $23.78 create their 29th floor “Attic Space” that includes games, FHL Bank Building at 601 Grant Street to RDC Inc. 86.3 an outdoor patio, and a spot to brew your own espresso. INDIANAPOLIS Rugby Realty also also added a new Tenant Innovation $10.1M $24.49 Center and fitness facility in the Frick Building. 82.0 One Oxford Centre attracted Chase Bank who $62/SF MILWAUKEE $28.08 • The Davis Companies completed a $100M restoration announced their Pittsburgh branch will be of the Union Trust Building which touched nearly every located on the ground level of the building (along Wholey Building at 89.2 MINNEAPOLIS aspect of the property including tenant amenities such with a beautiful loft space). Major co-working venture 1501 to $34.63 as a gym and collaboration space. Their careful attention Spaces will lease 35,000 square feet in the newly JMC Holdings to detail and strong design earned them a national 93.8 renovated One Oxford Centre. In the last year, NASHVILLE preservation award through the American Architecture Union Trust has announced significant new tenants $8.1M $40.45 Awards in 2018. with Buchanan, Ingersoll and Rooney signing on for $24/SF 89.8 140,000 square feet, First Commonwealth Bank, who • Just off of Grant Street, Pearson Partners, Inc. has NATIONAL CBD already has a customer branch on the ground floor, $50.25 undertaken a $70M investment in the upgrade of 525 will lease 22,625 square feet of office space and, most Manor Building at William Penn Place to include public areas as well as 90.4 recently, Jackson Kelly PLLC signed a long-term 564 to exterior improvements, the highlight of which is a glass $33.01 lease for 12,000 square feet. Pearson Partners inked Crescent Investment Group cube fronting on Fifth Avenue. 89.5 their first tenant at 525 William Penn Place, Pollock $6.2M PITTSBURGH Begg will move into their newly renovated space $29.98 All of this investment has led to significant leases in the from the Frick Building to take 12,000 square feet on $56/SF area including Elite Transit Solutions, one of Pittsburgh’s 83.2 the building’s 35th floor. ST. LOUIS fastest growing companies. They will lease 31,500 square $19.73 feet on the top two floors of the historic Frick Building Source: CBRE, JLL Source: JLL with options for expansion. 8 9 CO-WORKING SHOWS NO SIGNS OF SLOWING CBD CLASS A & B $1.3B VACANCY RATES Co-working companies added 88,800 square feet of space in Greater Downtown 30 % in 2018 and into 1Q 2019 with at least 132,000 more in the pipeline expected to deliver IN R&D EXPENDITURES CLASS A - CBD CLASS B - CBD within the next year. Pittsburgh-based Beauty Shoppe joined the Golden Triangle BY PITT, CMU, AND 25% in Building and recently celebrated the opening of their newest office DUQUESNE, OF WHICH $813.6M located in the Highline, adding a combined 24,000 square feet of leasable space. 20% Novel Co-working, formerly known as Level Office, is expanding their footprint (63%) WAS 19.3% FEDERALLY FUNDED at 606 Liberty Avenue to include roughly 4,500 square feet of additional office 15% suites. Colab18 added 4,600 square feet at Nova Place and Serendipity Labs will 14.6% be moving into their brand new 25,000 square foot office suite at 3 Crossings IN 2018, PITTSBURGH 10% Riverfront West in April 2019. RANKED 12.9% TH 5% 6.8% National co-working company Industrious committed to creating a second 13 location in the Golden Triangle with 38,000 square feet of space in Liberty 0% Center and is expected to open by 3Q 2019. New York-based Bond Collective IN VENTURE CAPITAL INVESTMENT DOLLARS One Oxford Centre and Pittsburgher Building announced that they have been scouting for roughly 40,000 square feet 1Q17 1Q18 1Q16 1Q19 2Q17 3Q17 2Q18 2Q16 3Q18 PER CAPITA 3Q16 4Q17 4Q18 of space in Greater Downtown and WeWork is looking for 30,000-50,000 4Q16 square feet of space and planning at least one location in Pittsburgh in 2019. Source: CBRE MONTHLY RENT 60 FIRMS PER SF FROM AROUND THE REGIONAL FORTUNE 500 COMPANIES TOTALING WORLD INVESTED $87.8 BILLION IN REVENUE, 2018 BY RANK OVER $550M CLASS A - CBD IN PITTSBURGH TECH $35 CLASS B - CBD RANK COMPANIES IN 2018. 114 $30 $29.61 165 PNC FINANCIAL SERVICES GROUP 95K $27.70 191 PPG INDUSTRIES STUDENTS ENROLLED $25 246 US STEEL IN HIGHER 340 DICK'S SPORTING GOODS EDUCATION WITHIN $20 10 MILES OF $19.07 $20.95 370 WESCO INTERNATIONAL DOWNTOWN; 23K $15 Headquartered in Greater Downtown GRADUATES FROM 2017-2018 Park Co-Headquartered in Pittsburgh and Chicago ACADEMIC YEAR 1Q17 1Q18 1Q16 1Q19 2Q17 3Q17 2Q18 2Q16 3Q18 3Q16 4Q17 4Q18 Headquartered in Greater Pittsburgh Area 4Q16 Source: CBRE Source: Fortune.com Source: Ernst & Young LLP and Innovation Works, Investment in Pittsburgh’s technology sector 2009-2018, PDP The Beauty Shoppe, Pitt Building Downtown Pittsburgh

GREATER DOWNTOWN REGIONAL WAGE & SALARY JOBS & OFFICE INVENTORY NUMBER OF JOBS

REGIONAL WAGE % OF TOTAL GREATER CITY OF PITTSBURGH & SALARY JOBS DOWNTOWN OFFICE SPACE

GOLDEN 79,316 74% 276,462 NORTH 15,323 13% SHORE ALLEGHENY COUNTY STRIP 9,615 8% DISTRICT 710,479 SOUTH 3,224 5% SHORE UPTOWN 6,912 1% Source: OnTheMap (2015), JLL 10 11 Glasshouse Apartments, East AND

GREATER DOWNTOWN POPULATION*

RESIDENTIAL POPULATION UP NEXT IN THE PIPELINE

Greater Downtown’s population has grown by more than 3,750 Residential growth in Greater Downtown is not expected to slow 8,046 residents in the past ten years, representing a 31% increase in the as 2019 progresses with an additional 4,420 units already in the 8,471 residential population now reaching an estimated 15,860 residents. pipeline including 1,420 units anticipated for the 28-acre site in 10,622 Signs of a steady residential upturn in Pittsburgh’s urban core are the Lower Hill. Several highly anticipated projects are being 2,576 AVERAGE 1 indicative of a promising future for further growth as more people delivered in 2019, Core Realty’s Kaufmann’s Grand on Fifth project BEDROOM RENT: choose to live Downtown to be closer to employment opportunities, featuring 312 apartments which began occupancy in 1Q 2019 and 10,586 12,100 low $1,290 transportation, amenities, and entertainment. Since 2016, new residential TREK and Q Development’s Eighth and Penn Project expected 3,629 2000 high $1,912 $1,627 developments in the Strip District and North Shore have contributed to wrap up construction in June 2019 adding 135 new units in the to 85% and 19% of the increase in the Greater Downtown population Cultural District and 12,000 square feet of street-level retail space. AVERAGE 2 as units in large developments became available at the Yards @ 3 With more than half of the units pre-sold at Lumière, Millcraft 2010 BEDROOM RENT: Crossings, Heinz at 950 North Shore, and the recently completed Investment’s 86-unit luxury condo project atop the Oliver Garage 15,856 low $1,895 364-unit Edge 1909. These large developments delivered a combined entered into the final construction phase in 1Q 2019 with plans 5,270 KEY high $2,458 $2,051 815 units in just under three years. According to results from the 2018 to complete the project by the end of the year. Trammel Crow’s GOLDEN Downtown Resident Survey, the top three reasons residents cited for Glasshouse at Station Square East is nearly finished with 319 units choosing to live Downtown are proximity to work/school, desire to live completing construction in 2019 as part of the larger multiphase 2018 NEIGHBORING AREAS in an urban environment, and walkability. Residents’ desire to live in an development at Station Square East. Hardy World’s Refinery Uptown, North Shore, urban environment increased by 21% compared to 2012 survey results. project in the Strip District is anticipated to finish construction , Strip District by 2019, adding 30 new condo units. TOTAL POPULATION RENTAL MARKET Pittsburgh-based Laurel Communities’ 46 three-story Strip District Brownstones project has begun construction on the Occupancy rates of Greater Downtown apartments have increased site behind the Produce Terminal Development. The developer over the past five years. The residential market experienced an all-time announced in January 2019 that they will be expanding their high of 95% occupancy in 2Q 2018 and has since leveled out to 93% project to include 21 additional townhomes which will be by 4Q 2018. Average monthly rents per square foot followed a similar ready for occupancy by 2021. NRP Group expects to begin trend throughout 2018 peaking at $1.94 mid-year and settling at $1.88 construction this spring on the second phase of Buncher 33,000 per square foot to end the year, a 6.3% growth over the last five years. Company’s Riverfront Landing development to include 442 RESIDENTS IN A Average monthly rent for a one bedroom apartment is $1,627 while the apartment units. Red Rocks Group began construction on two 1.25 MILE TRADE AREA average two-bedroom rent is $2,051 per month. The Greater Downtown projects in the Cultural District in 1Q 2019 and expect to deliver residential market absorbed 767 units, 11% of the current inventory, a total of 86 units by early 2020. Construction began on the within the last two years signaling to developers the strength of the conversion of the Commonwealth Building on Fourth Avenue which will add 150 units to the Golden Triangle. 1,828 Downtown housing market for new residential development. UNITS DELIVERED TO GREATER DOWNTOWN * The 2018 data are conservatively calculated by market growth and occupancy rate estimates. Sources: U.S. Census Bureau; Pittsburgh Downtown Partnership SINCE 2014 12 13 CONDOMINIUM SALES Eighth and Penn

There were 55 condominium sales in 2018 at an average of $402,340 per unit and $272 per square foot. There were 35% fewer units sold in Downtown when compared to 2017 numbers (84 vs. 55), but the average cost of units sold in 2018 was a 2% increase from 2017 sales and averaged $7.00 more per square foot. Over the past five years, condo cost per square foot has increased 16%.

AVERAGE CONDOMINIUM SALE PRICE PER SF $325 SPOTLIGHT $300

$275 COMMONWEALTH $272 BUILDING CONVERSION $250 Connecticut-based JCS Capital LLC is investing GREATER DOWNTOWN APARTMENTS $225 $235 an estimated $20M to convert the historic 21-story OCCUPANCY RATES Commonwealth Building at 316 Fourth Avenue 99% $200 into 150 apartment units with ground floor retail space. Based on the current demand in the market, 97% Lumière the new inventory of residential units will focus 95% 2017 2015 2013 2018 2016 2014 on studio and micro-sized units measuring roughly 93% Source: Allegheny County Real Estate Department; Western 400 square feet each. The long-vacant, 174,000 Multi-List Service – Provided by Piatt Sotheby’s International Realty 92.5% square foot property built in 1906 was formerly 91% owned by Columbus-based E.V. Bishoff Co. who 90.8% INCREASE IN 89% 16% CONDOMINIUM currently owns the neighboring Carlyle Building AVERAGE SALE housing 60 condo units. JCS Capital gained 87% PRICE PER approval to exceed the current zoning code of 85% SQUARE FOOT the building based on the size of its lot, which IN LAST FIVE YEARS NUMBER OF UNITS would permit only 75 units, by transferring the 1Q18 2Q17 2Q15 2Q18 2Q16 3Q18 4Q17 4Q15 4Q18 4Q16 (2013 VS. 2018) SOLD PER YEAR development rights for an additional 75 units 4Q14 from the Parking Authority’s Grant Street Source: Pittsburgh Downtown Partnership 2013 2015 2016 2014 2017 2018 Transportation Center. TOTAL UNITS IN PIPELINE 4,420 MONTHLY RENT PER SF GOLDEN 1,734 $2.00 LOWER HILL /UPTOWN 1,629 $1.90 STRIP DISTRICT 593 $1.88 84 65 87 73 55 76 $1.84

SOUTH SHORE 319 $1.80

NORTH SHORE 145 $1.70

$1.60

HOME VALUE COMPARATIVE $1.50 STATISTICS 1Q 2019 15222 15219 CITY OF PITTSBURGH ALLEGHENY COUNTY

MEDIAN ESTIMATED HOME VALUE $452,000 $141,000 $190,000 $195,000 1Q18 2Q17 2Q15 2Q18 2Q16 3Q18 2Q14 4Q17 4Q15 4Q18 4Q16 4Q14

12 MONTH CHANGE +12.1% +3.3% +6.9% +7. 3% Source: Pittsburgh Downtown Partnership

Source: Realtors Property Resource – Provided by Piatt Sotheby’s International Realty 14 15 AND

RESTAURANTS SPOTLIGHT

PG&H AND REDHAWK COFFEE NEW RESTAURANTS AND RETAIL In October 2018, the PDP opened PG&H, a retail showroom located at As Greater Downtown’s population keeps growing and more residents 536 Smithfield Street below Mellon Square. PG&H features design-forward, move into the urban core, Downtown’s retail market strengthens. 42 new high quality, locally produced home goods. The project is a collaboration restaurants and retailers opened in Greater Downtown from 2018 through of the PDP, Bridgeway Capital’s Monmade initiative, and the Richard King 313 Mellon Foundation. features hand-crafted items made by more than March 2019. 26 of those new businesses were restaurants and bars including RESTAURANTS Molinaro Ristorante, Forbes Tavern, and Waffles, INCaffeinated, the first 40 talented local and regional makers. The space is more than just a retail retailer to open in the Kaufmann’s Grand on Fifth development. Wolfie's shop, it’s a showroom where makers can meet with potential customers, Pub, which recently opened in the former Pirata space, is a Point Park designers, and those in the building trades to discuss custom pieces and University-themed eatery. Greater Downtown welcomed 16 new retailers 147 scalable products. PG&H is also home to an exceptional local coffee roaster, and service providers including the long awaited Peter Lawrence Women's RETAILERS Redhawk Coffee. Apparel store from Chas Schaldenbrand, owner of men’s fashion store Heinz Healey’s, Dallas Beauty Lounge, and three new health and wellness businesses including Altus Human Performance Optimization (HPO), Town 138 Place Fitness, and ILLUME Pittsburgh (formerly known as Exhale Yoga). SERVICE 70% of new business openings in 2018-2019 are small businesses and 75% ESTABLISHMENTS of that group is concentrated within the Golden Triangle.

NOTABLE RETAIL AND SERVICE 2018-2019 CLOSINGS LEAD TO NEW OPPORTUNITIES BUSINESS OPENINGS 2018-2019 OPENINGS FINANCE & INSURANCE STRIP DISTRICT SOUTH SHORE GOLDEN NORTH SHORE After serving the Golden Triangle’s Cultural District for 13 years, Nine on Nine closed their doors shortly after Valentine’s Day in February 2019. The IN DOWNTOWN, Diamond Market Bar & Grill, which closed in July, 2018, was one of the first restaurants that helped lead to the revitalization of Market Square in 2011 64% and is now replaced by a Bank of America branch which opened earlier this OF RESTAURANTS & year. Roughly 10,000 square feet of prime restaurant space was left vacant after Red, the Steakhouse closed at the US Steel Tower after being open 69% for less than a year. The closing of the Tilted Kilt on the North Shore has OF RETAILERS ARE made 10,000 square feet of space available for Shorty’s Pins x Pints, a new LOCALLY OWNED entertainment complex from CBRE’s Herky Pollock and Burgatory owners, Mike Hanley and Jerry Dilembo, expected to be unveiled by the end of 2019. After Panera Bread announced the purchase of the international restaurant chain Au Bon Pain in late 2017, three of four Golden Triangle 32 4 locations closed within in the past several months leaving an opportunity 4 2 to welcome new dining concepts into the market.

16 17 RETAIL PROSPECTS

Several new mixed-use and office redevelopments will open up spaces for new retailers and restaurants to emerge. Several stores at Station Square’s Freight Shops were forced to close or relocate in the wake of a $30M renovation to the development. When completed, roughly 70,000 square feet of new retail space will be available to businesses and restaurants. The Cultural District remains a hub for creative eateries with Pittsburgh native David Keating and partners serving up modernist and small plates at 1,360 Bridges & Bourbon at 930 Penn Avenue. In the same block, AMPD Group DINING CHAIRS AT has plans to open The Standard, a new casual dining and quick service SPOTLIGHT concept on the street level of the Courtyard Marriot at 947 Penn Avenue 66 by summer 2019. Richard DeShantz Restaurant Group’s Gi-Jin is anticipated OUTDOOR CAFES THROUGHOUT to open on Sixth Street in the Cultural District in the coming months. DOWNTOWN Downtown is looking forward to its second brewery outpost at 300 Liberty Avenue as eastern Pennsylvania-based Slyfox Brewing Co. enters the PENN BREWERY FIRST AVENUE TAPROOM market with plans to open a taproom in the former Stone Pizza space. This new location will complement their upcoming 6,000 square foot brewery Downtown is catching up with the local brewery phenomenon lab at the South Shore’s Highline development, coming fall 2019. Earth with the opening of the first taproom in the neighborhood. Inspired Salads will be opening a third location Downtown at EQT Plaza, Penn Brewery’s Downtown Taproom is located on the ground replacing one of the former Au Bon Pain locations. floor of the new First Avenue Lofts. The space brings a highly sought-after amenity not only to Downtown but to the First New retail spaces will emerge within mixed-use projects currently under Side neighborhood which is poised for programming and a ripe NOTABLE RESTAURANT development. The Eighth and Penn residential project will deliver 10,250 opportunity for investment. The taproom is a cozy 750 square OPENINGS 2018-2019 square feet and three retail bays in the heart of the Cultural District in June feet and offers seating for 35 people. In addition to sampling a 2019. 's North Shore Seven will open in April 2019 at SAP dozen beers brewed just across the river in , a limited Center with roughly 14,000 square feet of retail space available for future food menu is available for light bites. tenants. The landed Punch Bowl Social as the first $182M announced tenant expected to take up two floors and 23,000 square feet of IN ANNUAL space on Center Avenue near PPG Paints Arena at the 28-acre site currently SPENDING IN in planning stages. McCaffery Interest’s Produce Terminal redevelopment in DOWNTOWN the Strip District between 16th and 21st Streets will add more than 65,000 PITTSBURGH square feet of new retail opportunities with a minimum of 40,000 square feet to be filled by locally owned businesses. 1600 Smallman will offer 35,000 square feet of ground floor retail to complement the diverse retail and restaurant uses in planning for the Produce Terminal.

2018-2019 GREATER DOWNTOWN DINING ESTABLISHMENTS COFFEE SHOP FULL SERVICE 47 % QUICK SERVICE 36% 10% 7% BARS & NIGHTLIFE

2018-2019 GREATER DOWNTOWN PRINTING SERVICE ESTABLISHMENTS OTHER OPTICAL HEALTH, BEAUTY & FITNESS 41 % FINANCIAL 27% 13% 6% 5% 4%4% REPAIR TRANSPORTATION

HOME & ART, ANTIQUES 2018-2019 GREATER DOWNTOWN GIFTS & HOBBIES BOOKS RETAIL ESTABLISHMENTS APPAREL 18% 17% 16% 16% 9% 9% 5% 4% 3% 3%

CONVENIENCE JEWELRY FOOD & MUSIC & OTHER HEALTH & & NEWS BEVERAGE ELECTRONICS BEAUTY 18 19 HOTEL, CULTURE, AND

AVERAGE DAILY ROOM RATE & REVENUE ENTERTAINMENT PER AVAILABLE ROOM 2018 $180 Senator John 's Destination Moon: The Apollo 11 Mission

$160 $153 $158 GREATER DOWNTOWN HOTEL MARKET $140 $120 Greater Downtown offers more than 6,000 guest rooms to visitors and business professionals with more than 1,100 rooms in the pipeline. 377 $109.90 $100 6,052 HOTEL rooms are currently under construction in the Golden Triangle and are $104 OCCUPANCY AVERAGE DAILY RATE EXISTING expected to deliver by the end of 2019 from the following projects: PEAKED AT $80 REVENUE PER AVAILABLE ROOM HOTEL ROOMS 160-room EVEN Hotel Pittsburgh Downtown in Kaufmann's Grand on 84% Fifth, 97-room Fairfield Inn & Suites on Boulevard, and the 2017 2015 2013 2018 2016 IN OCTOBER 2018 Conversion at 401 Wood Street which will be an 2014 1,122 Autograph hotel. The 18-story conversion is estimated to cost $19M Source: STR, Inc. republication or other re-use of this data without the express ROOMS IN and will completely renovate the 78,000 square foot interior as well written permission of STR is strictly prohibited. Provided by VisitPITTSBURGH THE PIPELINE 1.5M as the ground floor retail. As for 2018, one hotel project was delivered, the Strip District welcomed the 186-room AC Hotel by Marriott. OCCUPIED ROOM NIGHTS IN Greater Downtown Hotel occupancy in 2018 was 68% on average, 13.2M GREATER DOWNTOWN TOTAL VISITORS IN 2018 the highest occupancy levels since 2015. Average daily rate ($158) and revenue per available room ($110) were also up from last year, by 2% and 6% respectively.

GREATER DOWNTOWN HOTEL ROOM INVENTORY 4,393 GOLDEN 77.7% 83.6% 75.8% 77.1% 77.6% 77. 2% 72.6% 73.6% 73.9% 78.6% 82.3% 73.0% 79.1% 78.5% 72.9% 72.2% 77.6% 69.2% 70.1% 67. 5% 67. 5% 691 NORTH SHORE 72.1% 63.2% 58.9% 62.3% 62.0% 58.6% 53.3% 54.9% 54.0%

56.9% 427 STRIP DISTRICT 49.3% KEY 54.0% 45.5% 44.7% 46.0% 399 SOUTH SHORE 2017 2018 2016

GREATER DOWNTOWN HOTEL 142 LOWER HILL

OCCUPANCY 2018 AC Hotel JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC Source: STR, Inc. republication or other re-use of this data without the express written permission of STR is strictly prohibited. – Provided by VisitPITTSBURGH 20 21 CONVENTION CENTER

The David L. Lawrence Convention Center increased overall visitor count by 13% compared to 2017 numbers. While the Convention Center had fewer events in 2018, visitor count was maximized at large public shows CONVENTION CENTER VISITS BY (+30%), sporting events (+27%), and nearly doubled EVENT TYPE 2018 attendance at conventions/conferences (+46%) CONVENTION/CONFERENCES 40.2% compared to 2017. Pittsburgh had only 18 months to prepare for the Professional Convention PUBLIC SHOWS 39.2 % Management Association's (PCMA) Convening SPOTLIGHTS Leaders annual meeting, which took place in January, SPORTING EVENTS 10.3% 2019. VisitPITTSBURGH and SMG staff at the Convention Center, in addition to dozens of partners TRADESHOWS 3.2% LIBERTY MAGIC throughout the region, worked tirelessly to prepare for what is commonly referred to as the “Super- FINANCEMEETINGS & INSURANCE 3.1% Abracadabra! Before our very eyes, the intimate theater that Bowl of Conventions,” bringing together meeting previously housed Arcade Comedy Theater transformed into planning leaders from around the world to discuss FINANCESPECIAL EVENTS & INSURANCE 3.0% Liberty Magic in February 2019. With a sleight of hand, the the latest trends while also showing off the venues Pittsburgh Cultural Trust brought to Downtown one of the FINANCEFOOD & BEVERAGE & INSURANCE EVENTS and amenities offered in the Pittsburgh region. PCMA 1.0% country’s first spaces dedicated to presenting acts of magic in had an economic impact of $4.9M in direct spending Source: David L. Lawrence Convention Center a cozy space. With only 66 seats in four rows, the audience has during the four-day convention and welcomed 3,704 the chance to become immersed in the show. The theater, located attendees representing 39 countries. As of March at 811 Liberty Avenue, will host limited engagements by national 2019, 27 new leads in future meetings are anticipated and local magicians. to contribute $39.4M in direct spending as a result of hosting the conference in Pittsburgh.

GREATER DOWNTOWN DOWNTOWN SOUND INITIATIVE ENTERTAINMENT, LOWER HILL 51 CONVENTION, MUSEUM, ARTS, AND SPORTS Did you know that there is more live music in Downtown VENUES COLLECTIVELY Pittsburgh than any other neighborhood in the City? SOUTH SHORE 145 ATTRACTED A thriving music scene is an economic engine and cultural 9.2M platform, bringing people together, creating a sense of NORTH SHORE 614 VISITORS IN 2018 community, and enlivening the texture of any district. As part of the PDP’s Downtown Sound Initiative, efforts have been dedicated to cultivating a more vibrant music GOLDEN 2,085 scene in Downtown. As a key partner in the City-wide

Music Ecosystem project, the PDP has tracked 2,895 DOWNTOWN GREATER

live performances across Greater Downtown in 2018. NUMBER OF LIVE MUSICAL TOTAL 2,895 Acknowledging the number of live musical performances 2018 PERFORMANCES not only provides a fuller picture of the work being done to promote a vibrant music scene but also provides a baseline to track progress as the PDP and other organizations expand their musical offerings across Pittsburgh’s urban center. Live concerts/music was cited as the most popular event type that residents would like to see more of in Downtown (67% of respondents, 2018 Downtown Resident Survey).

AC Hotel 22 23 ARTS AND CULTURE VENUES

Increases in attendance were seen across Downtown’s performing arts venues, museums, and art galleries in 2018. Overall attendance at performing arts centers increased 9.5%. Contributing to this increase were double-digit increases at both the and the African American Cultural Center. The majority of Downtown museums increased their number of visitors with the experiencing the largest percentage of growth, 17%, and the Heinz History Center increasing growth by 9%, buoyed by Destination Moon: The Apollo 11 Mission which debuted in September Pittsburgh CLO's production of Disney's Beauty and the Beast 2018. Large capital investments were completed in 2018 at the ($33M) and ($1.2M). Both museums experienced increases in visitors in 2018 of 7% and 5% respectively. Overall museum attendance increased 6% in 2018 while art gallery patronage increased 16%. THE ALLEGHENY 1,919,447 2,249,021 1,465,316 507,651 2017 2018 2016 PITTSBURGH SPORTS 499,768 REGIONAL ASSET DISTRICT (RAD) WILL The Pittsburgh Cultural Trust received approval to begin construction 934,951 MAKING AN IMPACT 963,312 of the Golden Triangle’s first cinema of its size in decades. The future 55,000 48,000 ALLOCATE $33.9M OF 42,795 1,093,608 666,728 KEY RIVERHOUNDS PIRATES PENGUINS STEELERS ANNUAL OPERATING first-run multiplex will take shape in the former Bally’s Fitness Club The and Pittsburgh Penguins PROFESSIONAL SPORTS AND CAPITAL GRANTS on 6th Street, next to the Renaissance Hotel. There will be at least six both had increases in fan attendance in 2018, ATTENDANCE 2018 TO GREATER DOWNTOWN screens and lounge chair seating among other modern amenities. hosting a combined total of 1.5M visitors. According ASSETS IN 2019* The estimated $11M project is expected to be delivered in 2021. to SportsPITTSBURGH, the sports division of Source: Pittsburgh Penguins; ; A Downtown movie theater is an amenity that 56% of residents VisitPITTSBURGH, the Penguins versus Washington Pittsburgh Riverhounds SC; Pittsburgh Steelers would like to see Downtown, according to 2018 Downtown Resident Capitals two-game series in the second round of survey results. the NHL playoffs at PPG Paints Arena was expected to pull in $4.4M in spending in Pittsburgh on lodging, food/beverage sales, and merchandise, up .5% from the second-round payoffs in 2017. Unfortunately, the Pittsburgh Pirates experienced their lowest attendance in 20 years, decreasing nearly 24% from CONVENTION 2017. Interestingly, nearly 35% of fans who attended GREATER DOWNTOWN CENTER Pirate home-games came from outside of Pennsylvania, VENUE ATTENDANCE 2018 according to the Sports & Exhibition Authority. Part of PROFESSIONAL SPORTS EVENTS 32 % PERFORMING ARTS 21% MUSEUMS 20% 16% 10% 1% this can be explained by the vast numbers of out-of-state PITTSBURGH fans coming to the ballpark to root for opposing teams IS #1 OTHER ART such as the Boston Red Sox, Chicago Cubs, and St. Louis EVENTS GALLERIES Cardinals. Relative to other ballparks, attending a game BEST FOOTBALL at PNC park is very affordable with an average ticket CITY FOR FANS cost of $23 compared $57 to attend a game at Fenway WALLETHUB, 2019 Park in Boston, according to Statista. The Riverhounds continue to increase their fan base, growing by more than 12% for the second year in a row. Non-soccer events held at Highmark Stadium also increased 150% from 2017 and served 345,000 attendees.

*Excludes $25.6M in funding to the Carnegie Library of Pittsburgh (CLP) which has several locations outside of Greater Downtown. Funding for the Greater Downtown branches is not 25 24 included in figure above. Greater Downtown locations include: CLP Downtown & Business Branch and CLP Allegheny Branch. TRANSPORTATION AND

PIT AIRPORT PASSENGER CONNECTIVITY TRAFFIC

PUBLIC TRANSPORTATION 87% AIRPORT 54,900,000 The Port Authority of Allegheny County increased ridership 12% 7,330,000 Pittsburgh International Airport (PIT) has 66 current and announced by nearly 2% in 2018, bucking the national trend which saw a nonstop routes, a 10.5% decrease from 2017. Despite this drop, PIT decrease of 1.8% nationally, according to the American Transit has increased passenger count by 7.5% from 2017’s record-breaking Association. A total of 81 bus lines, 84% of all buses in the numbers making 2018 the fifth consecutive year of passenger growth. system, converge in the Golden Triangle. The increase in bus ANNUAL New airlines, added seats, and direct flights to both national and 8.30M 8.99M 9.66M 7.99M ridership system-wide is evidenced by the 3% increase in alightings RIDERSHIP 62.2M BUS 8.13M international destinations contributed to this milestone. British AND LIGHT (offs) at Golden Triangle bus stops in 2018 compared to 2017. Airway’s year-round direct flight to London Heathrow started in April 2018 RAIL RIDERS IN 2018 2019 and has been highly sought after by the region’s business Sustainability measures are being implemented into the Authority’s 2014 2015 2016 2017 2018 community. The new service has the potential to support $50M in transit system, offering an immense benefit to Downtown as well as BUS RAIL Source: Authority annual new business to , according to a study Allegheny County. The Authority received a $500K grant to assist by EDR Group. with the electrification of its bus fleet. These funds will be used towards the $2.3M purchase of two 40-foot electric buses which The conceptual design for a new $1.1B terminal was unveiled in early will be used as part of a pilot program to test their functionality. Source: Port Authority of Allegheny County 2019. The award-winning design team, Gensler and HDR in association The initial cost of electric buses is twice as much as conventional PARKING AUTHORITY with Luis Vidal + Architects, developed the terminal design theme, buses; however, the Authority will save money over time on reduced GREATER GARAGES PARKED “NaTeCo” (Nature, Technology, and Community). The new terminal is maintenance and fuel costs while minimizing air pollution. The DOWNTOWN expected to be operational by 2023. one-year pilot will occur at the East Liberty garage where two PARKING METERS 2.3M charging stations will be installed. COLLECTED NON-LEASEHOLDER VEHICLES 2018 DOWNTOWN In addition, the Authority has incorporated future electrification of $6.2M the fleet between Oakland and Downtown on the Bus Rapid Transit REVENUE IN 2018, FREE-FARE (BRT) corridor as part of their Federal Transit Administration’s (FTA) $17 Small Starts Program. The BRT project will have a total of 25 new 4% AVERAGE DAILY T ZONE: electric buses. Currently, the Authority operates 32 hybrid diesel- INCLUDES FIRST INCREASE PARKING RATE AVENUE, STEEL PLAZA, electric buses in their efforts to modernize its existing fleet. Diesel- FROM 2017. electric hybrid vehicles have approximately 25% greater fuel WOOD STREET, GATEWAY, efficiency than standard diesel buses. , $247 AND ALLEGHENY AVERAGE MONTHLY STATIONS PARKING RATE BUS W/ AVERAGE DAILY HEALTHY RIDE CONNECTCARD PARKING RATE BIKESHARE RATE COST COMPARISON $2.50/RIDE $17 $2/30 MINUTES 42,400 includes transfer within 3 for up to 12 hours No membership, hours of tapping card pay as you go

26 27 SPOTLIGHTSPOTLIGHT

MAKE MY TRIP COUNT 2018

The Green Building Alliance led the effort to launch BIKING PEER CITY COMPARISON FOR the 2018 Make My Trip Count (MMTC) survey which DOWNTOWN MODE SPLITS captured information on how commuters travel. There Healthy Ride doubled the number of stations in the PUBLIC TRANSIT 42% were roughly 20,000 people who completed the survey, Golden Triangle since launching in 2015, increasing (BUS & LIGHT RAIL) 39% similar to the number of responses when the survey was last from 10 to 20 stations, and added 10 stations in Greater completed in 2015. The of the survey was to capture 48% Downtown including two on the North Shore, two residents’ transportation choices and to help inform future in Uptown, and six in the Strip District. Healthy Ride 24% transportation and infrastructure decision making. The survey users completed over 75,800 trips throughout the City, DRIVE 39% results will help to better understand City of Pittsburgh increasing trip count by 7% compared to 2017. The 39% residents’ mode split. The report will also allow local government overall system expansion effort in 2018 resulted in 50 to better serve the public by evaluating short and long-term 25% new stations and 200 new bikes, with an additional changes in energy use, emissions, and safety for each mode 75 stations to be in place by the end of 2Q 2019. 39% of commuting. CARPOOL/VANPOOL 6% A partnership between the City of Pittsburgh’s 4% The effort of conducting the survey could not have been Department of Mobility & Infrastructure and Riverlife possible without the collaboration of a wide range of agencies made it possible for the completion of the Mon Wharf 10% and organizations including the switchback, a $3.2M project connecting the Eliza WORK FROM HOME 6% on Community Development, Allegheny County, the City Furnace Trail and the Three Rivers Heritage Trail 2% of Pittsburgh, Southwestern Pennsylvania Commission, with the wharf and leading to . In Pittsburgh Downtown Partnership, Pittsburgh Community 5% keeping with the City’s goals to provide safe routes Reinvestment Group, Pittsburgh Parking Authority, Port for cyclists, all Port Authority vehicles are now bike- WALK 3% Authority of Allegheny County, Sustainable Pittsburgh, friendly, addressing first and last mile challenges for 2,325 5% Healthy Ride, Oakland Transportation Management commuters. In 2018, the Port Authority and Healthy ACTIVE CONNECTCARD 8% Association, , and Bike Pittsburgh. Ride established a partnership to offer unlimited free HOLDERS USING 25% 15-minute bike-share rides to transit riders using their HEALTHY RIDE Although cities such as , , and Philadelphia, ConnectCard at any Healthy Ride station. BIKE SHARE BIKE 2% are larger than Pittsburgh, Downtown Pittsburgh’s 2018 8% mode split demonstrates that a greater percentage of people In 2018 there was a 17% and 18% decrease in bike are commuting via public transit than those commuting to 3% counts in the 600 and 1200 block of Penn Avenue, 28,746 larger city centers in Denver and Philadelphia. Comparing respectively. Part of the decline in bike ridership could TRIPS TAKEN 6% USING A Pittsburgh to other cities can influence decision-makers to be attributed to having record-breaking rainfall of OTHER 2% set citywide and neighborhood level mode shift goals to 57.8 inches (37% increase from 2017), the most rain that CONNECTCARD 1% continue to reduce the percentage of commuting by single- has been recorded in the region's history. occupancy vehicles. 6% 2%

DOWNTOWN PITTSBURGH 2018 DOWNTOWN DENVER 2017 DOWNTOWN SEATTLE 2017 DOWNTOWN PHILADELPHIA 2014 KEY 28 29 AND

2018 ENERGY STAR CERTIFIED BUILDING SF ENVIRONMENT 2,782,011 U.S. STEEL TOWER

1,632,511 BNY MELLON CENTER 12.5M (35%) Commercial Square Feet 2030 DISTRICT SUSTAINABLE CITY, BUILDINGS, 1,012,685 ONE PPG PLACE PERFORMANCE: OFFICE Certified to LEED and Energy BUILDINGS OVER 200K SF AND OPERATIONS Star Standards as of 1Q 2019 787,624 FIFTH AVENUE PLACE 754,442 BNY MELLON CLIENT SERVICES 50 % and better (2030 Goal) After a lengthy stakeholder engagement process, the City of Pittsburgh 40% to 49 % below the baseline announced Climate Action Plan 3.0 which outlined sustainability goals for the City through 2030. The City is aiming to use 100% clean energy 746,954 EQT PLAZA for City operations, including a fossil fuel free fleet and divestment 333,339 411 SEVENTH AVENUE from fossil fuel companies, and plans to reduce energy, water, and transportation emissions 50% by 2030, all while achieving zero waste. 322,662 SIX PPG PLACE 30% to 39% below the baseline This ambitious yet achievable Climate Action Plan helped the City of 2018 AVERAGE Pittsburgh become a winning city in the Bloomberg American Cities DAILY TEMP 77, 281 FIVE PPG PLACE Climate Challenge in October 2018. Pittsburgh was granted $2.5M to join 25 other Leadership Cities across the U.S. in further advancing 44­° low 59,658 FOUR PPG PLACE 20% to 29% below the baseline efforts to reduce carbon emissions. As of 1Q 2019, the Pittsburgh 2030 District, a public/private partnership facilitated by Green Building 61°­ high 54,429 2501 SMALLMAN Alliance (GBA), has 83 committed Greater Downtown Property Partners representing 55.7M square feet across 245 buildings. The goal of the 47. 25 44,012 THREE PPG PLACE 2030 District is to support building owners and managers as they 10% to 19% below the baseline ACRES OF strive to reduce water, energy, and emissions 50% by 2030. PARK SPACE There are 8.6M square feet of Energy Star certified space in Greater Downtown which makes up 81% of all Energy Star certified space in 1% to 9% below the baseline Allegheny County (as of 1Q 2019). There are nearly 4M square feet of newly certified Leadership in Energy and Environmental Design (LEED) commercial space in Golden Triangle buildings including the U.S. Steel Tower, One Oxford Centre, and IKM’s interior office space at 11 Stanwix. The US Steel Tower, the tallest building in Pittsburgh, earned Above the baseline a LEED Silver Certification for Building Operations and Maintenance in February 2019 and is the second largest building in the world to receive this level of LEED designation. Winthrop Management invested in major 81% OF ALL improvements to advance building operations and energy efficiency ENERGY STAR by installing LED lighting, bicycle parking and electric vehicle charging CERTIFIED stations, and implementing a green cleaning program. Between The City ONE BUILDING = SPACE WITHIN of Pittsburgh’s 2030 goals and investment in green buildings, the City ALLEGHENY COUNTY remains a national leader in sustainability. IS DOWNTOWN Point State Park Source: Pittsburgh 2030 District, 2017 30 31 SPOTLIGHT 412 FOOD RESCUE 412 Food Rescue is a Pittsburgh-based non-profit that works with local food businesses and retailers by rescuing their surplus food and transporting it directly to nonprofit and community based organizations (shelters, family support centers, housing authority DOWNTOWN PLACEMAKING sites, etc.). Once delivered by Food Rescue Heroes (volunteers), the food is provided to individuals and families experiencing food Making investments in public art and streetscaping initiatives often insecurity. Since the organization was incorporated in 2015, 412 Food serves more than one purpose. While these types of projects Rescue has rescued over 5.6M pounds of food equating to a $14M beautify the Downtown environment, they can retail value. also provide amenities, improve safety, and establish a sense of place. 2018 saw several of these projects come to fruition in 412 Food Rescue had a total of 1,409 rescues from 42 unique donors Downtown. at Greater Downtown establishments in 2018 with 40% of these donations totaling more than 500 pounds each. Total food rescued in 2018 equated to 236,585 meals, $591,467 retail value, and 236,585 was a series of pilot programs under- Life on Liberty pounds of food saved from going to landfill. The environmental taken by the PDP in the 900 Block of Liberty Avenue impact of food rescued from Greater Downtown locations was 128,463 designed to provide pedestrian and transit amenities. 412 Food Rescue pounds of CO2 emissions avoided, the equivalent of planting 964 trees. The improvements included the addition of a bus only lane and a large-scale streetscape installation which included lighting, planters, street graphics, and a sidewalk extension at a busy bus stop. Also included in the footprint of the Life on Liberty project is Bae Bae’s 51.17% Greenhouse, a pilot parklet selected as part of the City of Pittsburgh's 2018 Spark program. The Greenhouse 45.35% is open to the public and provides a lush setting for seating and gathering. NUMBER OF Enlivening Downtown alleyways with lighting, In the summer of 2018, Strawberry Way, the busiest DONATIONS artwork, and pedestrian enhancements brings interesting and pedestrian walkway in the Golden Triangle, received a GOLDEN 128,463 LBS stunning elements to areas that are considered mundane. creative makeover featuring a large-scale mural, Who NORTH SHORE OF CO2 EMISSIONS AVOIDED When Energy Flow was decommissioned from the Rachel Gets To Eat The Most Fruit? by Pittsburgh-based artist STRIP DISTRICT FROM GREATER DOWNTOWN Carson Bridge in April 2018, lighted elements of the original Julie Mallis. Not only is the mural interactive and helps SOUTH SHORE FOOD RESCUES, EQUIVALENT artwork were repurposed to create Garrison Canal, a to brighten the alleyway, it provides an opportunity to TO PLANTING dynamic new piece which debuted in May 2018. Andrea Polli, engage in deeper philosophical questions. At one end of the artist who created the original work, turned the Garrison the mural, toward Grant Street, the mural reads: “Who’s 964 TREES Place alleyway into an imaginary underwater future world missing from your table,” a nod to the physical tables 0.07% of big data. Visitors to the Canal 'swim' below a wave of which are set up from April through October along the 3.41% thousands of shimmering lights that transform color and alley. Toward Liberty Avenue, “Who gets to eat the most animate in response to real time changes in local weather fruit?” is asked, positing a question about equity conditions communicated from a Downtown weather station. and power. The artwork brings light into an alleyway shared by vehicles and a steady stream of pedestrian traffic, and provides safety Both alleyway enhancement projects were initiatives of 40% OF DONORS RESCUE MORE THAN enhancements in addition to artistic beauty. the PDP. 500 LBS EACH

32 33 DEVELOPMENT

Arrott Building Eighth and Penn

DEVELOPMENT HOTEL/ENTERTAINMENT 23.2%

Downtown has seen a tremendous amount of public and OFFICE/RETAIL 16.9% private investment in the past decade. Total investment has exceeded $8.7B in Greater Downtown; $5.2B of this figure is from completed projects and $3.5M can be attributed TRANSPORTATION 16.4% to announced projects and projects that are currently under construction. The numbers reported as “completed EDUCATION/CIVIC 16.2% investment” in the Golden Triangle, Lower Hill/Uptown, GOLDEN TRIANGLE South Shore, Strip District, and North Shore are values of FINANCEMIXED USE & INSURANCE 14.4% projects that were completed from 2009-2019. Project TYPE BY $1.9B COMPLETED INVESTMENT; $970M IN THE PIPELINE values reported per area as “in the pipeline” are projects that FINANCERESIDENTIAL & INSURANCE 11.2% are either under construction or have been announced. In addition to the Golden Triangle’s $76M in completed office renovations over the past year, October 2018 marked the long-awaited unveiling of COMPLETED PROJECT VALUE PROJECT COMPLETED FINANCEPARK/TRAIL & INSURANCE 1.6% The number of building permits issued in the Golden ’s $60M on Forbes Avenue. TOTAL $5B Triangle decreased by 34% from 348 in 2017 to 228 in 2018. Development plans for several neighboring projects are also moving The recorded permit value decreased from $227M to $136M forward including the $20M Commonwealth Building residential conversion during the same time period. In the Strip District, the number MIXED USE 47.4% on Fourth Avenue which broke ground in 1Q 2019 and will deliver 150 of permits decreased by 43% from 77 in 2017 to 44 in 2018, market-rate units. The Arrott Building, on Wood Street and just steps away from the Commonwealth Building, will deliver a new 120-room Autograph while the recorded permit value increased 9%. The North OFFICE/RETAIL 15.4% Shore had a 12% decrease in number of permits and a boutique hotel. With renovations underway, the project will preserve 4% decrease in permit value. The South Shore increased many of the historic elements of the building. This hotel will join the RESIDENTIAL 11.7% POINT PARK nearly completed 160-room Even Hotel in the Kaufmann's Grand on permit count by 18%, but decreased in recorded project UNIVERSITY value by 25% from 2017 to 2018. In total, building permits Fifth Avenue development and 97-room Fairfield Inn and Suites on Fort UNVEILED THE NEW Pitt Boulevard. issued in Greater Downtown decreased by 34% from 2017 EDUCATION/CIVIC 11.3% to 2018, and also decreased 26% in total cost compared to $60M 2017 numbers. Stark Enterprises’ $63M Icon on Smithfield mixed-use project received final FINANCETRANSPORTATION & INSURANCE 10.3% PITTSBURGH approval for historic tax credits in October, 2018. The development will PLAYHOUSE include 40 apartment units and 25,000 square feet of retail. Nearby at

VALUE BY TYPE BY VALUE FINANCEHOTEL/ENTERTAINMENT & INSURANCE 3.6% 350 Oliver, Lumière topped off in January and is expected to be complete by late summer 2019. Also to be completed in summer 2019 is TREK and Q Development's Eighth and Penn residential project which will deliver 135 ACTIVE & ANNOUNCED PROJECT ACTIVE FINANCEPARK/TRAIL & INSURANCE 0.2% units and over 10,000 square feet of retail in the heart of the Cultural District. TOTAL $3.5B

34 35 Former Site Redevelopment, Gensler Architects Station Square Redevelopment, RDL Architects

LOWER HILL AND UPTOWN SOUTH SHORE $635.1M COMPLETED INVESTMENT; $1.3B IN THE PIPELINE $80.1M COMPLETED INVESTMENT; $411M IN THE PIPELINE

In 1Q 2019, the new 410,000-square foot UPMC Vision and Rehabilitation Tower broke ground in Uptown. McKnight Realty Partners’ purchase and $110M renovation of the former Terminal Building, called the Construction of the new medical tower is estimated to be $360M and is anticipated to open in late 2022. Highline, is anticipating completion in 2019 and will deliver 600,000 square feet of office and retail Official plans have been announced for the 28-acre site in the Lower Hill District next to PPG Paints Arena. space, a 521-space parking garage, and over an acre of public green space. The Penguins will be partnering with Buccini/Pollin Group to develop the office and retail components, while Intergen will lead the residential development. Anticipated to attract an estimated $750M in investment, Forest City Realty Trust’s renovation announcement of the South Shore’s Freight House Shops helped the completed master plan will include a mix of 1,420 market-rate and affordable units, 190,000 square feet solidify UPMC’s decision to house a new 36,500 square foot training facility which will take a significant of retail, and over 800,000 square feet of office space along with a hotel and large entertainment complex. portion of the rentable building area. Dallas developer Trammell Crow Co. recently announced Glassworks, The first phase of development will focus on construction of the first 250 residential units and the $26.4M a new 122,000 Square foot office development. This announcement will be the first new office Cap Connection Park, connecting the Lower Hill to Downtown and slated to begin by summer 2019. development to be built in the South Shore since the early 1980s.

Glassworks will be joining the nearly completed 319-unit Glasshouse apartment complex on the other side of the to open this summer. Trammell Crow intends for the office development to be the first phase of a larger $200M development that could include two additional office towers, parking garage, and boutique hotel. Although an anchor tenant has not been selected for the new development, proximity to the light rail station and the Golden Triangle gives the overall development the potential to attract businesses, residents, and visitors. Forest City Realty Trust began construction on the $30M rehab of Station Square’s Freight House Shops in 2018 and will include new restaurants, retail shops, office space, and entertainment. Additionally, there are plans to make the area UPMC BROKE more pedestrian friendly by reconfiguring the streetscape to make the area more walkable. GROUND ON THEIR NEW $360M VISION AND REHABILITATION TOWER COMPLETED PROJECT VALUE STRIP DISTRICT BY AREA GOLDEN 38.3 % NORTH SHORE 25.1% UPTOWN 12.5% VARIOUS 12.4% 10.1% 1.6%

SOUTH SHORE

UPMC Vision and Rehabilitation Tower at UPMC Mercy, HOK and IKM Inc. ACTIVE & ANNOUNCED PROJECT VALUE NORTH SHORE BY AREA UPTOWN 35.5 % GOLDEN 27.4% SOUTH SHORE 11.6% 9.6% 8.1% 7.8%

STRIP DISTRICT VARIOUS

36 37 STRIP DISTRICT NORTH SHORE $514.3M COMPLETED INVESTMENT; $338.5M IN THE PIPELINE $1.4B COMPLETED INVESTMENT; $287.6M IN THE PIPELINE

The adoption of the new Riverfront Zoning Ordinance (RIV) in 3Q 2018 has given developers a clear The Carnegie Science Center unveiled its $33M PPG Science Pavilion project in June, 2018. The state- path forward for designing new projects along the city’s riverfronts, the primary objective of the of-the-art facility features PointView Hall, a 9,800 square foot event space, STEM learning labs, and the ordinance imposed height restrictions on riverfront properties. Rugby Realty plans to erect two new 14,000 square foot Scaife Exhibition Gallery. The completed investment added 40% more capacity to the office buildings at the corner of Smallman and 21st Street with ground breaking expected in 2019. This museum. The 179,000 square foot SAP Center office tower broke ground in 1Q 2018 and is expected to be project will total 400,000 square feet of office space, a 400-space parking garage, and 35,000 square completed in April 2019. Joining the new development in the spring will be Ben Roethlisberger’s 7,100 square feet of ground-floor retail. RDC Design + Build is partnering with Orangestar Properties on District 15 foot North Shore Seven bar and grill. Approximately 7,000 square feet of retail is still available for lease. Beta Version, a nine-story development featuring 205,000 square feet of office space and a 380-space parking garage. Construction is expected to begin in summer 2019. revealed In 1Q 2019, Reedsdale Associates announced plans for a $12M new mixed-use development at 1106 Reedsdale details of the second phase of the Stacks at 3 Crossings in late 4Q 2018. Two additional three-story Street between Heinz Field and the Rivers Casino after plans for a 129-room North Bank hotel fell through. buildings will offer 110,000 square feet of commercial space at 28th and Railroad Streets. Long-term The firm is planning to convert the five-story warehouse building into 33,000 square feet of spec office plans for this project include up to six office buildings totaling a half a million square feet. space, 20 upscale apartment units, and 3,000 square feet of street-level retail. The Pittsburgh Stadium Authority granted Columbus-based Continental Real Estate Companies their second six-month extension, McCaffery Interests’ redevelopment of the former manufacturing facility at 1600 Smallman Street will expiring in August 2019, to begin development on lot four between PNC Park and the Place Hotel. break ground in 2019 and is slated to offer 148,000 additional square feet of office space, 45,000 square Continental is planning a mixed-use development for the site to include office, residential, and retail; details feet of ground floor retail, and internal parking spaces for tenants. The project is anticipated to be of plans and project costs have not been announced. completed by 2020. New York Developer JMC Holdings closed on purchasing the iconic New Federal Cold Storage site at 1501 Penn Avenue, famously known as the Wholey Building, in 2018 for $24.11 per square foot. The owner has not officially announced plans for the future use of the building but may be considering proposals for a new office high rise that could be as tall as 17-stories and include 500,000 square feet of office space.

BEN ROETHLISBERGER IS OPENING A NEW BUILDING PERMIT ISSUANCES IN GREATER DOWNTOWN RESTAURANT, CENTRAL BUSINESS DISTRICT NORTH SHORE STRIP DISTRICT SOUTH SHORE UPTOWN NORTH 2015 162 $30.1M 11 $2.6M 51 $64.4M 8 $0.8M 25 $3.9M SHORE 2016 169 $135.7M 29 $27.5M 57 $47.9M 6 $0.5M 27 $5.8M SEVEN AT SAP CENTER 2017 348 $227.2M 43 $46.8M 77 $66.6M 11 $1.2M 72 $21.1M

2018 228 $135.6M 38 $45.2M 44 $72.3M 13 $9.3M 38 $13.5M

Source: Departments of City Planning and Permits, Licenses, and Inspections, City of Pittsburgh SAP Center, photo courtesy of JLL

1106 Reedsdale Street, Jaimeson Ellis Architects, Inc.

Produce Terminal Redevelopment, McCaffery Interests 38 39 STAFF JACK DOUGHERTY KÉYA JOSEPH SOURCES Senior Manager of Special Events Manager of Special Events 412 Food Rescue Grant Street Associates Port Authority of Allegheny County - Cushman & Wakefield JEREMY WALDRUP CAITLIN FADGEN KARIN MANOVICH AF&CO PPG Paints Arena President & CEO Senior Manager of Economic Development Member Relations Manager Greater Pittsburgh Arts Council ALCO Parking Realtor.com Green Building Alliance LUCINDA G. BEATTIE LYNDA FAIRBROTHER KATHRYN SCHLESINGER Allegheny County Airport Authority Realtors Property Resource Greyhound Vice President, Transportation Executive Assistant and Office Manager Operations & Outreach Manager Allegheny County Real Estate Riverlife Highmark Stadium Allegheny Regional Asset District Rivers Casino TRACY BRINDLE COLTEN GILL CHRIS WATTS Innovation Works Operations Manager for Clean & Safe Programs Digital & Online Content Coordinator Vice President, Mobility Amtrak JLL Andy Warhol Museum Seattle Department of Transportation CINDY DAY RUSSELL A. HOWARD LEIGH WHITE LendingTree Vice President of Finance & Administration Vice President, Special Events & Development Vice President, Marketing & Communications Apartment List Senator John Heinz History Center Arcade Comedy Theater Smith Travel Research Megabus Art Institute of Pittsburgh SMU National Center for Arts Research National Aviary Artists Image Resource Sports and Exhibition Authority of National Center for Science Pittsburgh and Allegheny County BBC and Engingeering Statistics SportsPITTSBURGH Bricolage Production Company National Geographic Stadium Authority Brookings Institute National Oceanic and BOARD OF DIRECTORS Stage AE/PromoWest North Shore Atmospheric Administration Statista Carnegie Mellon University National Weather Service CHAIRPERSON VICE CHAIR SECRETARY/TREASURER The Economist LUCAS PIATT MATTHEW STERNE CRAIG R. STAMBAUGH Carnegie Science Center Travel & Leisure Fairmont Pittsburgh UPMC CBRE OnTheMap Penn State University U.S. Census Bureau Kevin Acklin Robert Rubinstein Center City District & Central Grant Gittlen Philadelphia Development Corporation U.S. Environmental Protection Agency Pittsburgh Penguins Office of the Mayor, City of Pittsburgh Urban Redevelopment Authority of Pittsburgh Piatt Sotheby’s International Realty Shannon Baker Melanie Harrington Izzy Rudolph Pittsburgh 2030 District U.S. Green Building Council Gatesman Vibrant Pittsburgh McKnight Property Development Children's Museum of Pittsburgh Pittsburgh Ballet Theatre Jack Barbour Thomas J. Harrington Merrill Stabile Urban Redevelopment Authority Buchanan, Ingersoll & Rooney, P.C. Winthrop Management, LLC ALCO Parking Corporation Pittsburgh Bike Share Richard L. Beynon R. Daniel Lavelle *Thomas L. VanKirk City of Pittsburgh Bureau of Police Pittsburgh Business Times VisitPITTSBURGH Beynon & Company, Inc. City of Pittsburgh, City Council Highmark, Inc. City of Pittsburgh Department Pittsburgh CLO Walk Score Jim Blue Kenneth J. Lyle Larry Walsh of City Planning Rootstock Wealth Advisors Peoples Gas Rugby Realty Pittsburgh Cultural Trust WalletHub Dara Ware Allen City of Pittsburgh Department Bryan Brantley Edward Manko of Permits, Licenses, and Inspections Pittsburgh Downtown Partnership Western Pennsylvania Conservancy McGuire Woods JLL / BOMA Western Pennsylvania Multi-List Service Mark Broadhurst Grant Mason , Jr., Community College of Allegheny County / Pittsburgh Center for the Arts Eat’n Park Hospitality Group Oxford Development Company State of Pennsylvania Commute Seattle Zipcar Pittsburgh Lisa M. Carey Kevin McMahon Apple White Contemporary Craft Farmers National Bank Pittsburgh Cultural Trust BNY Mellon Pittsburgh Parking Authority CREDITS: David Case George Whitmer David L. Lawrence Convention Center Clare Meehan Report Design - Elisco's Creative Café PNC Bank Pittsburgh Penguins PMI Alphagraphics Downtown Denver Partnership Marissa Williams Debra Donley Tom Michael Pittsburgh Pirates INTERIOR PHOTOGRAPHY AND IMAGES: Hertz Gateway Center, LP Larrimor`s YMCA of Greater Pittsburgh Pittsburgh Playwrights Theatre 412 Food Rescue Melissa Dougherty Cheryl Moon-Sirianni Andrew Wisniewski EDR Group Beauty Shoppe Co-working Cohen & Grigsby, P.C. PennDOT District 11 Highwoods Properties Pittsburgh Post-Gazette Energy Star Ed Massery E. Gerry Dudley Robert Wolfinger Adele Morelli Pittsburgh Public Theater Gensler Architects CBRE, Inc. Boutique la Passerelle and Downtown Resident MW Hospitality Envision Downtown HOK Pittsburgh Regional Alliance Rev. Brian Evans Daniel Onorato Ashlee Yingling EPA Jaimeson Ellis Architects Inc. First Evangelical Lutheran Church Highmark, Inc. Duquesne Light Company Pittsburgh Riverhounds SC JLL Rich Fitzgerald David Onorato EY McCaffery Interests Pittsburgh Steelers Allegheny County Executive Pittsburgh Parking Authority *Emeritus Forrester Pittsburgh Cultural Trust Mariann Geyer Ken Rice Pittsburgh Symphony Orchestra RDL Architects Fort Pitt Museum Point Park University KDKA-TV Renee Rosensteel PMC Property Group Fortune.com Senator John Heinz History Center PNC Financial Services Group Glassdoor Point Park University 40 41 E NORTH AVE

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E CARSON ST OFFICE/RETAIL RESIDENTIAL MIXED USE TRANSPORTATION 2 South Shore Distillery 9 Eighth and Penn 1 Civic Arena: Site Redevelopment 12 Sister Bridges Rehabilitation 11 Burns and Scalo Ft. Pitt Blvd Tower 8 820 Liberty Avenue Lofts 3 1106 Reedsdale 13 Traffic Signalization Upgrade 16 3 Crossings 2.0: The Stacks 6 Clark Building Unit Addition 4 Cultural District Riverfront Development 17 Bus Rapid Transit Corridor 35 North Shore Tower 20 955 Liberty Avenue Condos 14 Strip Produce Terminal Redevelopment 22 GAP to the Point Bike Track 56 District 15 Beta Version 37 350 Oliver: Phase 2 Lumière 15 Riverfront Landing 28 Civic Arena: Road Infrastructure 60 The Highline 44 Continental Residential Development 19 604 Liberty Avenue 29 I-579 Cap 33 62 525 William Penn Place Renovation 49 625 Stanwix Unit Addition 38 Station Square East Smallman Street Pedestrian Improvements 63 65 Bank Tower Renovation 59 319 Third Avenue 41 Kaufmann’s Grand on Fifth Allegheny Commons Road Improvements 64 Liberty Avenue Pedestrian Improvements 67 225 Boulevard of the Allies 61 Heinz Research Building Apartments 66 632-642 Ft Duquesne Redevelopment 89 Stanwix St and Ft Duquesne Blvd Garage 72 Station Square Freight House Shops 69 1430 Fifth Avenue Apartments 68 City’s Edge Banners Renovation 73 Glasshouse (Station Square East) 82 9th and Penn 75 1600 Smallman 74 One Apartments 95 Icon on Smithfield 81 District 15 77 Try Street Terminal Apartments 92 3000 Smallman 78 2330 Penn Avenue 96 2225 Smallman 80 Strip District Brownstones 99 420 Boulevard of the Allies Renovation 84 2554 Smallman Street 85 The Refinery 88 23rd and Railroad Street 93 Commonwealth Building Conversion Indicates a Conceptual Project 94 Gateway Towers Facade Renovation HOTEL/ All other projects are in Planning or Under Construction 97 800 Penn Avenue Apartments 98 209 Ninth Street Apartments ENTERTAINMENT This ongoing list represents active and publicly announced projects in Downtown Pittsburgh as of 4/19. The study area includes the 5 Forbes Hotel (Granite Building) Golden Triangle, North Shore, South Shore, Lower Hill/Uptown, 10 Fairfield Inn & Suites 40 Rivers Casino Hotel and the Strip District. Projects are listed in three categories. EDUCATION/CIVIC PARKS/TRAILS 90 Cultural Trust Movie Theater Announced means a project has been publicly announced and/ or a construction schedule has been determined and due diligence 7 18 Point State Park Connector 91 Arrott Building Hotel Conversion Point Park University: Student Center is under way. Active means ground has been broken. Completed 83 25 UPMC Vision and Rehabilitation Hospital Gateway Island Project means there is no longer active construction at the project site. 86 Weis Courthouse Renovation 31 Josh Gibson Park 36 Curtain Call/Pittsburgh Garden Passage Visit DowntownPittsburgh.com/Investment for more information. PROJECTS COMPLETED $5,154,208,246 TOTAL INVESTMENTS PROJECTS ACTIVE $1,217,559,617 JANUARY 2009 THROUGH APRIL 2019 43 PROJECTS ANNOUNCED $2,325,463,261 $8,697,231,124 PRESENTING SPONSOR:

SUPPORTING SPONSORS:

FEATURED SPONSORS:

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