Governor Rendell Says Revitalized Cultural District Will Be Big Boost for Pittsburgh; Announces Support for Nation's Largest 'Green' Mixed-Use...

GOVERNOR RENDELL SAYS REVITALIZED CULTURAL DISTRICT WILL BE BIG BOOST FOR PITTSBURGH; ANNOUNCES SUPPORT FOR NATION'S LARGEST ‘GREEN,' MIXED-USE NEIGHBORHOOD

Governor Edward G. Rendell said today that Pittsburgh will be able to transform its cultural district and attract downtown residential living, retail establishments and a four-star hotel with the help of a $12.3 million state investment.

"Today is an exciting day for the city of Pittsburgh," said Governor Rendell during a news conference at the Benedum Center for the Performing Arts. "Working together, we're funding projects that will draw people back downtown to live, work and play. It's the same successful approach we've used across the state over the last four years to bring new investments to our cities and towns.

"By supporting the re-birth of Pittsburgh's cultural district, we're opening the doors to a better quality of life for local residents and stirring new opportunities for the city. This comprehensive and innovative effort has all the ingredients needed to create a vibrant environment that will draw attention and additional development. People will want to be here when the project is finished."

The Governor echoed the sentiments of the Urban Land Institute, which called Pittsburgh's Cultural District Riverfront Development project one of the most significant and ambitious urban planning efforts in the country, and said this monumental undertaking is another positive step for the city as it continues its impressive renaissance.

Governor Rendell also applauded the Pittsburgh Cultural Trust for its leadership in making the planned project environmentally friendly. The $460 million project will be nation's first master-planned, "green," mixed-use neighborhood.

The total cost for Phase I is expected to reach $90 million and will result in the creation of an estimated 90 retail jobs, 20 management jobs and 1,000 construction jobs, as well as 180-220 new residential units and new retail space.

"Increasingly, cities are recognizing the importance going ‘green'," Governor Rendell said. "Designing this section of the city with the environment in mind is a wise decision, as it lessens energy consumption, provides a more attractive setting, promotes healthy living, and reduces operating costs over the long run."

A one-of-a-kind arts community, the Cultural District Riverfront Development will break ground in mid 2007 and will be completed within seven-to-10 years. The project will include unique retail and art spaces, restaurants, parks, public art projects, pedestrian plazas and parking facilities. Plans call for seven new residential buildings, a street of townhouses, an upscale hotel and a performing arts venue.

The $12.3 million investment the Governor announced today was coordinated through the state's Community Action Team and will support Phase I of the project. State funds will help with demolition and site preparation of a two-block area on Fort Duquesne Avenue between Seventh and Ninth streets, construction of two-mixed use buildings and a 420-space underground parking facility, streetscape development, and a new public park.

Department of Community and Economic Development, the Pennsylvania Housing and Finance Authority, the Department of Environmental Protection and the Department of Conservation and Natural Resources provided the following support for this project:

* $7 million in Redevelopment Assistance Capital Funds for the preparation and construction of the underground parking garage, which will serve the entire area;
* $3 million Pennsylvania Housing and Finance Authority New Market Tax Credits, which will be used to supplement financing for both mixed-use building, including a total of 180-220 condominium units;
* $1 million DCED Growing Greener II - Smart Growth funds to develop both the underground garage and the two mixed-use sites;
* $1 million DEP Growing Greener II - Industrial Sites Reuse Program funds for site remediation of the location formerly occupied by the Duff's Building and the Pittsburgh Opera House, which will house the underground parking facility and the two mixed-use buildings; and
* $300,000 DCNR Community Conservation Partnership Program (C2P2) funds for building a public park space between the two mixed-use buildings.

Currently, 49 Community Action Team projects have been identified throughout the commonwealth that are in various stages of planning and development. The Cultural Trust project joins the PNC Mixed-Use Building Project and the Piatt Place Project as the third recipient of Community Action Team funding in Pittsburgh and, with the McKeesport Community Action Team project, the fourth Allegheny County project to be supported through the program.

http://www.state.pa.us/papower/cwp/view.asp?A=11&Q=459532