Sunday, February 27, 2022

Almono and Carnegie Mellon University partner with Tishman Speyer to speed up development of Hazelwood Green project in Pittsburgh, PA

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.

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.

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.

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.”

Tim Smith

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.


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."

Jen Giovannitti

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.  

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.

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.”

Pittsburgh Mayor Ed Gainey


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.”

 Corey O’Connor

About Almono

Almono 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. 


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. 

Sonya Tilghman

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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