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350 Oliver
Structured parking and first floor retail in Pittsburgh's downtown.
Financed7MDollars
Redeveloped+45kSq Ft
Downtown
513 Smithfield St., Pittsburgh, PA 15222Located in the heart of Downtown, the 350 Oliver development will provide much needed parking to the growing district with vibrant retail space, including Brazilian steakhouse Fogo de Chao.
Background
Located at the corner of Smithfield Street and Oliver Avenue, 350 Oliver will transform the former Saks Fifth Avenue site. The project will complement ongoing investment in Downtown and a newly renovated Mellon Square Park.
URA Support
$7,000,000 parking tax diversion to support the parking structure and ground floor retail development.
Results
570-space parking garage above 45,000 square feet of retail. A proposed second phase will include a condo development over the first phase seven story structure.
Facts
- Developer: Millcraft Investments and McKnight Realty Partners
- Total Development Cost: $35,600,000
- URA Financing: $7,000,000 Parking Tax Diversion
- URA Grant Management: $2,300,000 in Redevelopment Assistance Capital Program
- Description: Seven-story parking garage with ground-floor retail.