Millcraft Steps Into the Next Generation by Rebranding as Piatt Companies

PITTSBURGH, PA (May 27, 2022) Millcraft Investments is excited to announce the next chapter for the future of the real estate company, which will now be called Piatt Companies. Celebrating its 65th anniversary this year, the company was rooted in the steel and manufacturing industries before pivoting to become a leader in real estate development, management and hospitality, bringing big, innovative ideas to life to benefit the economic development of Western Pennsylvania.   

The organization has been renamed Piatt Companies in honor of its iconic and visionary founder, Jack B. Piatt, who passed away in September 2020 at age 92 after poising the company for the next generation of success under the leadership of his sons, Lucas and Marcus Piatt. 

The company has a long history of reinvention to support the needs of Western Pennsylvania. Mr. Piatt started the company in 1957 as a small machine shop that grew into a large-scale equipment repair business for the steel and mining industries. As the steel industry collapsed in the 1980s, it took with it the need for equipment repair. However, for the region to revive its economy, people would need high quality places to work, live and play and so Mr. Piatt set his sights on revitalizing the region through placemaking and real estate development.   

What started as his vision for a golf course became Southpointe – a highly successful, sprawling 600-acre project in Washington County that includes class A office, residential, hospitality, retail and recreation properties. The family-run organization has grown into a multifaceted group of companies that currently includes development and construction, property management, commercial and residential leasing, Piatt Sotheby’s International Realty residential brokerage, hotels, interior design, insurance, settlement services, restaurants and retail.  

In addition to Southpointe, the company has expanded its portfolio to seven hotels and three restaurants throughout Washington, Westmoreland, Allegheny and Beaver counties. They have also invested over $500 million to revitalize spaces in Downtown Pittsburgh like River Vue, Piatt Place, Market Square Place, Tower Two-Sixty, 350 Oliver, Lumière Residences and Ensemble on Fifth.   

Like the Greater Pittsburgh community, the Piatt family of companies has resiliently adapted and reinvented by looking forward to the future while respecting its history, roots and foundations. To honor the legacy Millcraft left for the next generation of bringing ideas of life, the guiding principles of Piatt Companies will remain the same, developing places that prioritize: sustainability, creativity, ideas, integrity, community and philanthropy.  

“The rebrand to Piatt Companies is the next level and builds on the foundation which Millcraft has provided,” said Piatt Companies CEO Lucas Piatt. “The Millcraft name is industrial and although we’re not an industrial company any longer, we are still industrious. Piatt Companies reflects that we are entrepreneurial, resilient and a diverse company and that will allow us to continue to grow into multiple vertically integrated businesses. We want to continue delivering world-class projects that reach down the block and across the world by maintaining our guiding principles with the community and creating new, interesting, people-centered placemaking experiences for the Pittsburgh region.” 

This next generation for the company will see further diversification in the services they offer with additional exciting projects that focus on creating lifestyle and experiences for the people in our region, including the $600 million Esplanade project in Pittsburgh’s North Side and more to be announced over the coming months.    

“We’ve been in business for over 65 years and when you have a family business, your team becomes part of the family,” said Piatt Hotel Group President Marcus Piatt. “We have built an amazing team of smart and hardworking people in our family of companies- just the right team to lead Piatt Companies into our future.”   

The new name and logo were unveiled to the Piatt Companies staff yesterday. Additional information can be found at Piatt.com or @PiattCompanies on social media.  

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Media Contact: 

Molly Onufer 

Director of Marketing & Public Relations 

Piatt Companies 

[email protected] 

412-889-2676 

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Hilton Garden Inn – Southpointe

Hospitality

Opened in 2001 as one of the first Hilton Garden Inn hotels in the region, the Pittsburgh-Southpointe location offers ease of access to the Pittsburgh International Airport and Downtown Pittsburgh. The 20,000 square foot flexible ballroom space is a popular venue for weddings, trade shows, and seminars. A full renovation was completed in 2019. 

River Vue

Residential

River Vue is a 16-story luxury residential tower prominently located along the Allegheny River in Downtown Pittsburgh, offering residents panoramic city skyline and waterfront views within walking distance of the Cultural District, Market Square, and the city’s major business and entertainment destinations. The property features 218 apartment units and reflects Piatt Companies’ longstanding commitment to high-quality urban residential development and adaptive reuse.
 
Originally constructed as the State Office Building, River Vue underwent a comprehensive renovation and conversion from office space into luxury residential apartments under Piatt Companies’ ownership and management oversight. The transformation preserved the building’s prominent downtown presence while repositioning the asset as a premier residential destination within Pittsburgh’s evolving urban core. Through strategic redevelopment, operational excellence, and a strong focus on resident experience, Piatt Companies helped establish River Vue as a distinguished example of successful downtown adaptive reuse and long-term asset stewardship.

MARKET SQUARE PLACE

Mixed-Use

Located in the heart of Downtown Pittsburgh’s historic Market Square, Market Square Place is a dynamic mixed-use property featuring luxury residential apartments, a 35,000-square-foot UFC Gym, and a diverse collection of street-level retail tenants that contribute to the energy and walkability of Downtown Pittsburgh. The retail mix includes restaurants and casual dining concepts, fine dining establishments, banking services, fitness and wellness offerings, and unique retail experiences featuring integrated podcast studio space. Through proactive property management, Piatt Companies helps preserve the long-term value and performance of the asset by overseeing daily operations, tenant relations, maintenance coordination, and the overall property experience. By maintaining high operational standards and supporting a vibrant urban environment, Piatt contributes to the property’s continued success as a premier downtown destination for residents, retailers, and visitors.

HIGHMARK STADIUM

Entertainment

Highmark Stadium, the home of the Pittsburgh Riverhounds soccer team, offers a gorgeous view of Downtown Pittsburgh from Station Square. Piatt operated as the owner’s representative throughout the construction of the 3,500 seat entertainment venue.

ST. CLAIR HOSPITAL OUTPATIENT CENTER

Medical

St . Clair Hospital’s 40,000 square foot outpatient facility in Peters Township opened in 2013. As the owner’s representative, Piatt managed design and construction, and helped cut costs through value engineering and pre-construction negotiation. The center offers a much-needed location for numerous medical services and offices.

LUCAS PIATT

Chief Executive Officer — Piatt Companies

Lucas B. Piatt is the Chief Executive Officer of Piatt Companies and Piatt Sotheby’s International Realty, where he blends visionary leadership with a deep-rooted commitment to the future of Western Pennsylvania. With more than 25 years of experience in real estate, development, and executive leadership, Lucas has led the transformation of Downtown Pittsburgh, investing over $500 million as part of a broader portfolio exceeding $1 billion in revitalization efforts across the region.

Lucas is the driving force behind The Esplanade, a transformative waterfront development that will redefine Pittsburgh’s North Side. Designed to be a world-class destination for innovation, entertainment, hospitality, and public space, The Esplanade reflects Lucas’s bold vision for shaping the future of Pittsburgh through large-scale placemaking rooted in community, inclusivity, and global ambition.

A respected collaborator, Lucas brings people together—developers, civic leaders, creatives, and community members—to reimagine the built environment and make it a catalyst for growth and connection. He is committed to delivering luxury experiences that serve a greater purpose, with an eye toward sustainable and inclusive development.

His leadership extends far beyond real estate. Lucas actively supports organizations such as the Pittsburgh Downtown Partnership, Washington County Chamber of Commerce, Point Park University, the Pittsburgh Film Office, the Alzheimer’s Association, and serves on the Board of Directors for St. Clair Health Foundation, helping to shape the future of regional healthcare and community access.

As founder of the Piatt Family Foundation’s Rock, Reggae and Relief Festival, Lucas has harnessed the power of live music to raise significant funds for impactful causes. Beneficiaries have included ovarian cancer initiatives, Café Momentum Pittsburgh, 412 Food Rescue, MCG Youth & Arts, and Catapult Greater Pittsburgh, among others—supporting efforts around food security, youth empowerment, education, and economic mobility.

Beyond his professional and philanthropic commitments, Lucas is a devoted family man who finds his greatest joy in spending meaningful time with his wife Renee and their children, River and Marlea. Whether attending concerts and music festivals, traveling, or sharing life’s great experiences, Lucas lives with intention and heart—always seeking to build something greater for the next generation.

TOWER 260

Office

Tower Two-Sixty, in Market Square, offers seven floors of Class A office space and an integral public parking garage offering 330 spaces. Also in the building are the Hilton Garden Inn Pittsburgh Downtown and four new local restaurants.

This LEED Certified Silver building is the first opportunity in almost 30 years for distinguished Pittsburgh businesses to take up residence in a brand new trophy building. Partnering with JLL as the anchor tenant and property manager, the building’s other tenants include Coury Financial, Merrill-Lynch, McGuireWoods, and Piatt Companies.