Pittsburgh residents can look forward to not one but two exciting entertainment developments on the city’s Northside. Real estate company Piatt Cos. is spearheading the production of the Esplanade, the mixed-use, sustainable development project, while Live Nation recently broke ground to develop their new music venue in Pittsburgh’s Lower Hill District. The Esplanade’s price tag totals around $740 million, and the music venue will cost roughly $64 million, making the total over $800 million for the city.
The Urban Redevelopment Authority (URA) approved the construction of the new live music venue, which can accommodate up to 4,500 people. Its capacity is similar to Pittsburgh’s Stage AE’s outdoor concert area, and if all goes to plan, musical acts could take the stage as early as 2026.
As part of the contract, the URA says owners must employ a diverse workforce in its development and apply a $2 surcharge on each ticket, which will go toward community development activities in the Hill District. Live Nation must also commit to booking at least 25 events in the New Grenada Theatre down the street to keep entertainment dispersed in the neighborhood.
The Esplanade will include an entertainment, housing, and retail project with a 164-foot-tall Ferris wheel. Molly Onafur, Piatt’s Director of Public Affairs, says the $740 million cost is based on the Pennsylvania Economy League of Greater Pittsburgh’s analysis. The project includes a 225-room hotel with event space and ballroom, 300 apartments, 105 condominiums, retail and food space, and even a river safety facility for national, state, and local agencies.
Construction will be completed in two phases, with Piatt kicking off in the first phase in 2025. After closing on the land purchased from the Urban Development Authority, the company will have two years to complete the build. The close is anticipated for March 31, 2025.
Once complete, the Esplanade is expected to revitalize the community by encouraging connection and building a “first-day” Pittsburgh destination. The development will feature state-of-the-art design while embracing nature and promoting sustainability and outdoor recreation. The concert hall is expected to be a place for events that would typically skip over the city on their way to entertainment hubs like Chicago and New York City.
Like this and want more? Subscribe to our newsletter to stay informed about the latest construction developments in your area.
