PITTSBURGH (KDKA) – A major Ohio Riverfront renovation project on the North Side has received further support.
Millcraft Investments has received a $10 million government grant from the Redevelopment Capital Assistance Program.
Millcraft spokeswoman Molly Onover said the grant will go toward the first phase of the park, which includes a Ferris wheel, a 300-unit condominium, restaurants, a marina and more.
The goal is to transform a quiet industrial area into a more welcoming community.
“There are all these gates and stop signs, check in with the bouncer and you don’t feel like you really belong here,” said Brian Howe, director at Get Hip Records. “But you can come back here.”
Howe has worked in the shop in Chateau for 10 years. He wishes more people would pass through the neighborhood. He believes the theme park project will be the right attraction.
“It’s sure to bring a lot of people to this area of town in general,” Howe said. “Even North Beach doesn’t have foot traffic in my opinion, and there’s a lot of great stuff out there.”
Onover said the developer is still designing the scheme, but the project is expected to cost $600 million. It features 480 affordable housing units, 105 condos, a suite, and a parking garage.
“It’s really hard to find good, affordable housing as far as I understand it,” Howe said. “So, it would be really nice to see more of that in the area.”
Onover also hopes to reconnect neighborhoods on the North Side, such as Chateau and Manchester. It also said it would boost the economy and sales to stores.
Once completed, Onover said the project will create 7,100 construction jobs and 4,500 jobs. It added that it would generate $880 million in annual spending.
Onover said Millcraft Investments hopes to start operating by 2024 and open the first phase to the public by 2026.