Downtown Pittsburgh has continued its multibillion-dollar construction boom with $3.9 billion of projects either under way or in the planning stage, according to the Pittsburgh Post-Gazette. There are currently 28 projects under construction worth roughly $1 billion.
In addition to the almost $4 billion in active or planned projects, $4.6 billion of new construction has been completed since 2008, according to The Pittsburgh Downtown Partnership’s 2018 State of Downtown Pittsburgh report. Within the 28 projects currently under construction or planned, there are 400 new hotel rooms and 1,467 residential units, according to the report.
Building permits have also increased. The number of building permits issued in Greater Downtown climbed 91 percent in 2017, from 288 in 2016 to 551 last year, and the total value of the investment jumped 72 percent to $374.2 million last year, reported the Pittsburgh Post-Gazette.
In addition, 110,000 square feet of co-working space opened in Greater Downtown in the last three years, according to The Pittsburgh Downtown Partnership report. And approximately 4,100 residential units are either under construction or in development in and around downtown.
