Walnut Capital is looking to nearly double the size of its Bakery Square development in Pittsburgh’s East End.
The Bakery Square office and commercial development opened in 2009, expanded to include housing and now sits on 20 acres in Larimer and Shadyside. Walnut Capital is looking to expand the specially planned district on an adjacent 14-acre site it owns in Larimer and East Liberty.
Pittsburgh City Councilman Ricky Burgess, D-Point Breeze, introduced zoning legislation Wednesday that would clear the way for Walnut Capital to extend Bakery Square’s office, residential and retail development. The project also would improve street and traffic patterns in an effort to “reconnect communities and invite walkability,” the councilman’s office said in a statement.
Council can’t move ahead with considering Burgess’ legislation until it has been reviewed by the Planning Commission.
Walnut Capital has committed to helping fund a $25 million effort to build and rehabilitate 100 homes in the city’s East End, with particular focus on Larimer. The developer said it would provide an undisclosed amount of that funding directly and help with fundraising. Burgess said there will be an emphasis on affordable and mixed-income homeownership opportunities for Black residents.
“This now guarantees the future of Larimer,” Burgess said.
The goal, he said, is to draw additional private investment into the Larimer community and other nearby neighborhoods.
“This expansion of Bakery Square is vital to the rebuilding of Larimer, the rebuilding of Homewood, the rebuilding of Lincoln-Lemington,” Burgess said. “This is going to be a historic development.”
Walnut Capital also is seeking federal funding to help build a net-zero development district.
“Our goal is to not only make this the greenest development in the region, but to think big and extend a net-zero energy district into Larimer and East Liberty, helping to reduce energy poverty while improving air quality and reducing carbon emissions,” Walnut Capital President Todd Reidbord said.
Burgess said he and the developer have been working with the community to advance the project for several years.
Maelene Myers, executive director of East Liberty Development Inc., said the proposed development will have “a positive and transformative impact” on Pittsburgh’s East End.
“The strategic approach will undoubtedly address the pressing need for affordable housing options and ensure that individuals and families from diverse economic backgrounds can thrive in our beloved city,” said K. Chase Patterson, chairman of the Larimer Consensus Group.
