Developer reaches deal to buy property for proposed $475M Pittsburgh riverfront project

A Washington County-based developer is moving ahead with plans for a proposed $475 million project that would bring a massive Ferris wheel, splash park, marina, ice skating rink and housing to Pittsburgh’s Chateau neighborhood.

The city’s Urban Redevelopment Authority on Thursday approved selling a 5.5-acre property to Millcraft Investments for $1.5 million, plus costs. The property sits along the Ohio River in Chateau, an area of the North Side separated from Manchester by Route 65.

The project, dubbed Esplanade, has been in the works for several years. An earlier iteration of the proposal included a lagoon that would transform from a beach in the summer to an ice skating rink in the winter.

Though the lagoon portion of the plan has since been nixed, Millcraft still aims to bring an array of attractions to the mixed-use development near Rivers Casino.

The project will revamp vacant, formerly industrial land along the Ohio River, said Nick Fedorek, assistant director of policy and development for the URA.

The development would center around a 45,000-square-foot, publicly accessible pavilion that the developers say would offer year-round entertainment. Plans for the pavilion include a courtyard and winter garden that will include a restaurant and fresh food market.

A Ferris wheel overlooking the city would be another key piece to the development — a fitting element as George Ferris Jr., who lived in the North Side, created the first Ferris wheel for Chicago’s 1893 Columbian Exposition. Developers say the proposed Ferris wheel would be 53 meters tall, or about 175 feet – about the same size as the Niagara SkyWheel in Niagara Falls, Canada, and the Seattle Great Wheel.

The plan also calls for retail kiosks for local entrepreneurs to use as incubators or temporary retail space, a splash park, an ice skating rink, a park-like amphitheater for small performances and educational placards with information on local figures and events.

The development would include a 550-space public parking garage and a mixed-purpose marina that will be available for public use, houseboats and slips.

Esplanade also would include a 300-unit apartment building, with developers saying that 20% of the units would be affordable to households at 80% of the area median income or lower. The median income in Pittsburgh is $59,400, making 80% of the median income $47,500.

“It’ll be transformational and inclusive for everyone, and have a big impact on the region and the neighborhood,” said Jim Holcomb, Millcraft’s project manager.

Future phases, which would be located outside of URA-owned property, could include an aquarium, additional housing and a hotel, the developers said.

The development has progressed with significant community input, Holcomb said, and its goals align with the visions set forth by local community groups.

LaShawn Burton-Faulk, executive director of Manchester Citizens Corp., said the group is “absolutely pleased to see this project move forward.”

City Councilman R. Daniel Lavelle, who sits on the URA board, said there will continue to be “robust conversations” with the public as the project progresses. The development will come before the URA board again prior to authorization to execute a deed.