Piatt Companies Breaks Ground on Esplanade Project
PITTSBURGH, PA (December 1, 2025) Piatt Companies broke ground today on the 15-acre, $740 million Esplanade project in the city’s Chateau neighborhood. After nearly nine years of planning, persisting through a global pandemic and market challenges, construction will begin to prepare the site for vertical construction. The long-anticipated project will transform riverside industrial property with new energy, connectivity, and economic opportunity.
“The Esplanade marks the beginning of a transformative investment made possible through years of disciplined planning, sustained effort, and a level of collaboration that reflects true public partnership,” said Piatt CEO Lucas Piatt. “Advancing a project of this magnitude requires coordination across government, private industry, labor, and community stakeholders – each contributing to a shared vision for growth, opportunity, and long-term value.”
Reflecting the collaborative effort of the project, Piatt was joined by Governor Josh Shapiro, Lieutenant Governor Austin Davis, LaShawn Burton Falk of Manchester Citizens Corporation, County Executive Sara Innamorato, Mayor Ed Gainey, Mayor-Elect Corey O’Connor, City Council President Daniel Lavelle, State Representative Aerion Abney, and Tom Link of the Urban Redevelopment Authority. They were also joined by community organizations, trade leaders, and elected officials.
The project, as rendered by AE7 architects, could include:
Esplanade will also include a Ferris wheel with climate-controlled cabs and experiential entertainment options, while also serving homage its innovator George Washington Gale Ferris who lived on the Northside.
The Economy League of Greater Pittsburgh did an economic analysis of the Esplanade and projects it will support 9,300 jobs during construction, 4,500 permanent jobs, contribute $547.7
million to the regional economy and generate $1.5 billion in additional spending locally. The full economic impact study is here.
“Our company has a history of taking on complex projects because the rewards are shared across the community through jobs, amenities, and reinvestment,” said Piatt Companies Co-Owner and President of Piatt Hotel Group, Marcus Piatt. “We don’t pursue projects because they’re easy—we do it because we love Pittsburgh. This development brings together our full real estate expertise—site development, residential, hospitality, retail, and office—along with our vertical integrated businesses in one next-generation riverside community that will reconnect the river to the neighborhood and create a true destination for both locals and visitors.”
The project will be done in phases with Mascaro Construction beginning site work to prepare the site for vertical construction. Site work is expected to take 12-14 months and will include razing existing buildings, relocating and installing underground utilities, and filling the site above the flood plain. Concurrently, the project team will go into final design of the buildings to be built in the next phase, including the Ferris wheel, apartments, retail, parking garage, and the Current. Construction is expected to begin on that phase in 2026 and anticipated to be open in 2028. The condominium building will be built shortly after those buildings.
The second phase of vertical construction is expected to begin in 2027 and will take approximately 24 months to complete, anticipated to be open in 2029. This phase will include additional housing, potential innovation workspace, hotel, and a specialty entertainment destination.
Additional information and updates about the project can be found at esplanade-pgh.com.
Project renderings can be found here, with attribution to Piatt Companies and AE7.
