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Early phase rendering of Hazelwood Green,
Pittsburgh, PA |
PITTSBURGH, PA -- The Almono Limited
Partnership – owners of Pittsburgh’s Hazelwood Green – and Carnegie Mellon
University announced they have reached agreements with Tishman
Speyer, one of the
world’s leading developers, owners and operators of cutting-edge real estate,
to transform the 178-acre site into a global center for tomorrow’s economy
anchored by exciting new research facilities for science and engineering.
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| Rob Speyer |
Tishman Speyer will work with Almono, a
joint venture of the Richard
King Mellon Foundation, The Heinz
Endowments, and the Claude
Worthington Benedum Foundation, to convert the historic former steel-mill site, a symbol of Pittsburgh’s
industrial past, into a hub of innovation, science and sustainability that honors
the community’s history.
Tishman Speyer and Almono will create the
infrastructure and environments to support exploration and advances in
robotics, A.I., life sciences and other 21st century fields.
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| Jeffrey Mandel |
Tishman Speyer will further activate and
animate Hazelwood Green through the development of new affordable and
market-rate apartments, parks, open spaces, shops and eateries run by small and
local retailers and other community amenities, all in accordance with approved
Preliminary Land Development Plan for the site.
In
addition to its new role as master developer for Hazelwood Green, Tishman
Speyer has agreed to work with Carnegie Mellon University on its Robotics
Innovation Center.
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| Sam Reiman |
Tishman Speyer will assist Carnegie Mellon
on the siting, design, construction and programming of its facility, which will
be located within Hazelwood Green’s historic Mill District. Opening for CMU’s
project is slated for 2024.
“Pittsburgh has long been a global model
for urban reinvention, thanks in large part to the support of its bedrock local
institutions, including Mellon, Heinz, and Benedum,” said Tishman Speyer
President and CEO Rob Speyer.
“We look forward to delivering on a shared
vision for Hazelwood Green as a sustainable, equitable hub of innovation,
discovery and community.”
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Tim Smith
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Added Tishman Speyer Senior Managing
Director Jeffrey Mandel, “We are thrilled by this opportunity to
collaborate with world renowned innovators and local community members to
create a thriving, sustainable neighborhood at Hazelwood Green.”
“Tishman Speyer is an ideal partner for the
next phase of this important project,” said Sam Reiman, Director of the
Richard King Mellon Foundation.
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| Grant Oliphant |
“They are uniquely well suited to help us
maximize the potential of this generational opportunity – from their international
expertise; to their ability to build innovation districts around research
universities; to their relationships with the world’s most creative
corporations; their record on sustainability and historic preservation; and
their demonstrated commitment to building community partnerships that are
consistent with our foundation values."
Grant Oliphant, President of The Heinz Endowments, said, “This is a huge
milestone for Hazelwood and for Pittsburgh. The vision for Hazelwood Green is
breathtakingly ambitious, because it envisions the reinvention of this massive
site as the key to unlocking a more inclusive and sustainable future for
everyone in Pittsburgh, and to make sure the neighborhood around it shares in
what happens here."
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Jen Giovannitti
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Jen Giovannitti, President of the Claude Worthington Benedum Foundation,
added, “The Almono foundations have been committed to this moment for over 20
years: the moment when the various parts fall into place to create an
achievable vision for growth, equity and sustainability on a prominent former
steel mill site." |
| Farnam Jahanian |
“Carnegie Mellon University is pleased to
have the opportunity to work with Tishman Speyer to develop our Robotics
Innovation Center, and to have their expertise on board for the comprehensive
development of Hazelwood Green as an innovation hub,” said CMU President
Farnam Jahanian.
In November 2021, the Richard King Mellon
Foundation announced that it was awarding a $100 million grant – the largest in
its 74-year history – to the University of Pittsburgh.
This grant will help the University build a
highly specialized biomanufacturing facility, which it is calling Pitt
BioForge.
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| Patrick Gallagher |
“These singular initiatives—which are
impressive all on their own—fit within a larger collective effort to transform
Hazelwood Green,” says Pitt Chancellor Patrick Gallagher.
“This is great news for Pittsburgh. Having
Tishman Speyer, a nationally renowned builder of developments that enhance
regions, at the helm of Hazelwood Green will be a win-win for our
community," said County Executive Rich Fitzgerald.
“We know the vision for Hazelwood Green has
always been to rebuild a part of the neighborhood while lifting up the
surrounding community and creating opportunities for existing residents,” said
Pittsburgh Mayor Ed Gainey.
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| Rich Fitzgerald |
“With a developer of the caliber of Tishman Speyer at the table,
we are excited to begin working towards achieving these shared goals."
“Hazelwood Green can and will set the
standard for future development in the City of Pittsburgh,” said Pittsburgh
City Councilman Corey O’Connor.
“The Hazelwood Initiative is excited to
welcome Tishman Speyer to our neighborhood,” said Hazelwood Initiative Executive
Director Sonya Tilghman.
“We look forward to collaborating with them
on a Hazelwood Green that is fully integrated with the existing community and a
model for how development can put people first.”
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Pittsburgh Mayor Ed Gainey
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Center for Life founder and Executive
Director Tim Smith said, “As a long time community leader in the Greater
Hazelwood community, I'm thrilled to hear that Tishman Speyer will be joining
in with the Hazelwood leadership to help us accomplish our goal of ‘Development
without Displacement.’ Center of Life is looking forward to working with the
Tishman Speyer Team.”
Todd Stern, Managing Director at U3 Advisors, which will continue to
serve as managing agent for the site, said, “As strategic advisors to large
nonprofit institutions throughout the United States, we believe that this
extraordinary partnership is uniquely positioned to bring world-class mixed-use
development to the historic Hazelwood neighborhood while ensuring that the
benefits of growth are shared equitably among Pittsburgh’s diverse stakeholders.”
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Corey O’Connor
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About AlmonoAlmono Limited Partnership (Almono LP) is the primary land owner at Hazelwood Green. Almono LP is made up of three foundations: the Claude Worthington Benedum Foundation, Richard King Mellon Foundation, and The Heinz Endowments. The site’s development will catalyze investment within the Hazelwood neighborhood while drawing from the deep history and culture that remains intact through the people and the physical fabric of the neighborhood.
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| Todd Stern |
There is no site of this scale and potential that is more uniquely situated within the urban context of the Pittsburgh region; where research and talent is grown and fostered within premier universities, local neighborhoods remain unique and affordable, and the real estate market demands creative financial solutions.About Tishman Speyer
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 30 key markets across the United States, Europe, Asia and Latin America.
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Sonya Tilghman
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We develop, build and manage premier office, residential and retail spaces for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. About U3 Advisors. U3 Advisors works nationally with anchor institutions to advance their mission and unlock their impact. Through envisioning and implementing transformative real estate and economic strategies and interventions, U3 creates vibrant and sustainable campuses and communities that promote economic impact and inclusion.
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