east liberty station: realizing the potential - City of Pittsburgh

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5 This project is currently within the KOZ and not included in conservative value capture estimates. Potential increment could be collected in 2017 and dedicated to the elTRID VC Fund. 90 Another significant project is planned for vacant and underutilized properties at the corner of South Highland Avenue and Penn Avenue. A joint development of ELDI and Blasier Urban, the Odeon building will feature a 5 screen movie theater and café with additional restaurant space on the second floor. Levels 3-6 will each include 13,000 square feet of Class A office space. The redevelopment effort is seen as a significant catalyst for the core of East Liberty. Walnut Capital and Massaro Properties will soon commence another key project at the Highland Building within the central business district. The long vacant architectural landmark was constructed in 1909 by industrialist Henry Clay Frick. Rehabilitation of the historic building and adjacent Wallace Building will create 123 market rate rental residential units along with ancillary commercial space in to compliment the expansion of the South Highland Avenue entertainment district. 5 ELDI is also negotiating with a ‘trendy’ hotel operator to occupy the former YMCA building on Whitfield Street. Public spaces within the unique structure can accommodate hotel amenities such as a ballroom, gymnasium and swimming pool. After a series of failed redevelopment attempts, the new concept will include approximately 65 boutique rooms. The proposed initial value capture area extends along the southern side of Penn Avenue to Penn Circle West. Following their recently completed East Liberty Place North project, The Community Builders are also advancing plans for a second phase on the south parcel of the former East Mall apartment complex. It is anticipated the project would include 60 additional apartment units above approximately 13,000 square feet of ground floor commercial space. At the far eastern end of the Phase I area along Penn Avenue lies another significant potential development site within the elTRID study area. The former Reizenstein Middle School is now occupied by the Pittsburgh Public School District (PPSD) Barack Obama Academy of International Studies (Pittsburgh Obama). Born out of the closed Schenley High School in Oakland, the magnet school serves grades 6-12. PPSD announced plans to relocate the Pittsburgh Obama to the Peabody High School building in 2010 as part of a reconfiguration throughout the East End. Faced with an estimated $50 million renovation of the facility, PPSD decided instead to obtain bids for the prime location. The proposed development program includes a mix of office, retail and market rate residential uses. It is anticipated the initial phase would focus on redevelopment of the Penn Avenue frontage with the commercial components in an effort to build off the momentum of the adjacent Bakery Square project. This front portion of the Reizenstein parcel which will be the focus of the first phases of redevelopment is included within the boundary. The Penn Avenue Right of Way is also included so that the proposed value capture area remains contiguous with other areas in the core. Phasing of the TRID value capture delineation in response to changing market conditions and development potential is a key component of the elTRID value capture strategy. It is anticipated the proposed TRID value capture area could be expanded by the elTRID Management Entity at a later date in an effort to continue revitalization within the study area. The Act specifically includes provisions for the expansion of the specific value capture area based on local circumstances such as economic development and planning goals, community character, property boundary and scale variations. Expansion must be authorized by the Management Entity based upon the findings of the TRID Planning Study. Based upon the findings of elTRID contained here within, expansion would focus on facilitating redevelopment of key sites not currently within the known pipeline. However, these areas are situated in close proximity to the first wave of investment and thus present opportunities where market forces are likely to drive redevelopment. The 2 nd phase of the proposed TRID value capture area would remain contiguous with the initial area as well. Proposed expansion would focus on similar areas within the central business district and Eastern Gateway. The Phase II area extends to the north of the commercial core between Penn Avenue and Harvard Square. The top floors of many structures along the northern side of Penn Avenue
PROPOSED TRID BOUNDARY & PHASING Years 1 - 5 Years 5 - 10 Years 10 + East Liberty Blvd Broad St MLK East Busway Larimer Ave Fifth Ave Penn Circle N Penn Circle E Penn Ave Shady Ave 5 Minute Walk 10 Minute Walk N Highland Ave Penn Circle S Penn Circle W Baum Blvd Ellsworth Ave N Negley Ave Maryland Ave 90
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EAST LIBERTY STATION: REALIZING THE
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Table of Contents EXECUTIVE SUMMARY
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promotion of transit oriented devel
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and improve environmental quality.
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- 163,995 SF Mixed-Use Commercial -
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capture to fund these improvements.
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13 1. TRANSIT ORIENTED DEVELOPMENT
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TOD Typologies In recent years CTOD
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4. Maximize station connectivity an
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Station Case Study: Del Mar Station
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Station Case Study: Hiawatha and La
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24 Shady Avenue East Liberty TRID S
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26 Population Density along the Eas
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28 Classifying East Liberty Station
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30 Downtown 6,675 people 48,889 job
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32 EAST LIBERTY STATION WALKING-SHE
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34 East Liberty & the TOD principle
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36 4. Maximize station connectivity
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38 6. Manage parking effectively. T
Page 40 and 41: 40 Transportation Analysis Issues a
Page 42 and 43: EAST LIBERTY LAND USE 42 Key Commer
Page 44 and 45: Study Area City of Pittsburgh 44 To
Page 46 and 47: 46 Zoning Analysis The zoning aroun
Page 48 and 49: EAST LIBERTY 2010 COMMUNITY PLAN: D
Page 50 and 51: 50 Development Guidelines for the C
Page 52 and 53: 52 Source: ELDI 2010 East Liberty C
Page 54 and 55: 54 Around the same time as Eastside
Page 56 and 57: 56 Market Conditions Commercial: Ea
Page 58 and 59: 58 along Center Avenue dominate the
Page 60 and 61: 3. TRID RECOMMENDATIONS East Libert
Page 62 and 63: APPLYING THE TOD PRINCIPLES TO EAST
Page 64 and 65: 64 Recommended Infrastructure Impro
Page 66 and 67: 66 EAST LIBERTY STATION IMPROVEMENT
Page 69 and 70: Reconfiguring the Station for Conne
Page 71 and 72: A New Gateway to East Liberty and t
Page 73 and 74: Connecting East Liberty and Shadysi
Page 75 and 76: 75 East Liberty Station Redesign: P
Page 77 and 78: Near-term: Intersection improvement
Page 79 and 80: in diameter to accommodate forecast
Page 81 and 82: IMPLEMENTING PREVIOUSLY IDENTIFIED
Page 83 and 84: TRANSIT ORIENTED DEVELOPMENT SITE I
Page 85 and 86: Retail Office Hotel Housing Parking
Page 87 and 88: Existing Zoning and TOD While the e
Page 89: THE PROPOSED TRID BOUNDARY The iden
Page 93 and 94: an extended Ellsworth Avenue corrid
Page 95 and 96: DRAFT Financing TOD Urban, mixed-us
Page 97 and 98: established mechanism of municipal
Page 99 and 100: infrastructure for Eastside III & I
Page 101 and 102: Strategy for Future Phases As revit
Page 103 and 104: would As mentioned, serve a there d
Page 105 and 106: elTRID Approval and Implementation
Page 107 and 108: Appendix I - elTRID Total Annual TR
Page 109 and 110: Appendix II - elTRID Real Property
Page 111 and 112: Appendix II - elTRID Potential TRID
Page 113 and 114: Appendix II - elTRID Potential TRID
Page 115 and 116: Appendix III - elTRID Private Devel
Page 117 and 118: Appendix III - elTRID Pledged Real
Page 119 and 120: Appendix III - elTRID TRID Fund Bal
Page 121 and 122: Appendix IV - elTRID Real Property
Page 123 and 124: Appendix IV - elTRID Potenital TRID
Page 125 and 126: Appendix IV - elTRID Potential TRID
Page 127 and 128: Appendix V - elTRID Pledged Real Pr
Page 129 and 130: Appendix V - elTRID TRID Fund Balan
Page 131 and 132: Appendix VI - elTRID Real Property
Page 133 and 134: Appendix VI - elTRID Pledged Income
Page 135 and 136: Appendix VII - elTRID FUNDING AND D
Page 137 and 138: “Construction Agreements” means
Page 139 and 140: principal invested or any penalty f
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developer shall timely honor all re
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LIABILITY OF THE COMMONWEALTH OF PE
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(b) Private developer shall abandon
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IN WITNESS WHEREOF, the parties to
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EXHIBIT B REQUISITION FORM
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