Tower Two-Sixty

Tower Two-Sixty is an 18-story mixed-use development in Downtown Pittsburgh adjacent to bustling Market Square.

Background

The URA began assembling seven underutilized downtown properties in 2003. Building on and continuing the success of nearby Market Square, the Tower Two-Sixty project transformed these properties into Class A Office space, a Hilton Garden hotel, several new restaurants and much-needed parking in this busy downtown district.

Schedule

Tower Two-Sixty was completed in 2016.

Results

True to the mission of the URA, Tower Two-Sixty is a high-quality development that brings energy to a formerly neglected corner of Downtown, as well as quality employment opportunities and new tax revenue.

Facts

• Developer: Millcraft Development
• Architect: Arquitectonica
• LEED Silver Certification
• Total Development Cost: $111,000,000
• URA Role: Disposition, Financing, and Grants Managment
• URA Grant Management: $4,000,000 Redevelopment Assistance Capital Program grant.
• URA Financing: $8,600,000 in Tax Increment Financing and $7,000,000 Pittsburgh Urban Initiatives New Market Tax Credit allocation.
• 1,074 Construction Jobs Created
• 1,777 Full-time Equivalent Jobs Created
• Description: 18-story mixed use tower including a 200 room hotel, 130,000 sq. ft. of office, 14,000 sq. ft. of retail and a 321 space parking garage.