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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 |
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 |
“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 |
“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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| 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 |
“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 |
“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 |
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 |
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.
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| Todd Stern |
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 |
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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