Pittsburgh's Large Developments (Penn: real estate, condos, neighborhoods)

[tommygoat]

I have dug deep on this forum, and others. I read a lot of negative stuff. I stumbled across this site and thread. When taken as a whole; the future planning displayed here actually seems fairly impressive.

What do think?

http://forum.skyscraperpage.com/showthread.php?t=100544

[Drover]

I haven't done a lot of in-depth research, but it seems like a lot of it is being paid for by state and/or local taxpayers rather than being truly market-driven. What that says to me is that they are creating supply in excess of actual demand and thus misallocating resources. It also smacks of the same top-down approach that nearly destroyed some neighborhoods in earlier "urban renewal" blitzes. In the end I predict Pittsburgh will continue to be an economic tortoise but with a few shiny new buildings.

[Hopes]

Darn! I'm on my son's school laptop and it doesn't grant me access to the link! (He's on my computer playing games!)

Originally Posted by Drover

It also smacks of the same top-down approach that nearly destroyed some neighborhoods in earlier "urban renewal" blitzes.

That would be terrible!

Originally Posted by Drover

In the end I predict Pittsburgh will continue to be an economic tortoise but with a few shiny new buildings.

Oh, stop being all gloomy!

Hopefully, all of these out of state real estate investors will have something better in mind for the neighborhoods! I doubt they're planning to be slumlords!

[Snaily]

tommygoat, that stuff is all pretty nice. But did you find any plans to actually clean up the city? Also, a little history for you. The big idea for downtown use to be shoping, so they tried to make it a area for shopping. The plan utterly failed and many shops have moved out of the downtown area (They forgot to deal with such complex things as parking...seriously). So, now in order to keep downtown from becoming a ghost town they are trying to build condos and more business buildings. This is just another attempt by city leaders to make it seem like they are doing something for the city, they aren't.

What that says to me is that they are creating supply in excess of actual demand and thus misallocating resources.

That seems to happen a lot around here, not only on the big scale but on the small scale. They do great things like fund a grocery store one block from another one (Shop and Save on Penn if anybody is curious), it closed in about a year. Sadly it also seems to get these funds you have to be socially collected to the right people, I have looked for government grants for my business that is actually pulling a profit and would do the city good but no luck.

[guylocke]

I have posted that link half a dozen times on this forum already!! I am an active contributor to that forum as well.

[JoeP]

Many projects like these get tex incentives in most cities. This is not new. What is new, is the vast investment in downtown living and so far the market (consumers) are interested. Housing is shopping. The comparision is not relevant. Many of us new that then, but it was that particular person (mayor) who went in that direction.