According to a recent study, $130 million invested in the Three River Park has multiplied into $4.1 billion in development around the riverfront.
Mark Belko shares new of the findings of a recent study by Sasaki Associates: "Pittsburgh’s riverfront parks system is not only a haven for rest, relaxation and recreation but an economic powerhouse that has helped to generate billions of dollars in development over the past 15 years…"
Specifically, over the past 15 years, "the $130 million invested in the 13-mile Three Rivers Park has helped to produce nearly $4.1 billion in development on and near the riverfront…" Moreover, "since 2001, property values along that stretch have jumped by 60 percent compared with 32 percent in the rest of the city."
The article includes fine-grained details on which neighborhoods saw the most benefit from the city's riverfront investments, as well as an examination of some of the study's findings in support of future investments.
FULL STORY: Study: Pittsburgh's network of riverfront parks contributes to boom in development
Pittsburgh Redevelopment Happening on Riverfront Property
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