PITTSBURGH, PA–The Pittsburgh Penguins have retained Jones Lang LaSalle to oversee the team ownership’s redevelopment plan for the former Civic Arena site. The real estate company will help the Penguins finalize a master plan for the 28-acre site that serves long-term economic and community interests.
The project proposal includes 1,200 units of housing, 600,000 square feet of office space and 250,000 square feet of commercial space.
JLL is charged with engaging community members throughout the planning, and conducting meetings with regional stakeholders and political leaders. Jones Lang LaSalle will also market the development to prospective developers and tenants.
The Civic Arena closed two years ago, but its demolition and redevelopment were delayed as a political and legal fight ensued over its historic status. The arena was taken down in March. The Penguins professional hockey team now plays across the street at Consol Energy Center.
The Penguins’ plan is to create a live-work-play, mixed-use development destination for the region. Jones Lang LaSalle’s team working on the project includes J.C. Pelusi, market director for the Pittsburgh region; Kevin Wayer, Chris Molivadas, and Dan Reidy, along with Craig Dunham of Pittsburgh-based Dunham reGroup and Avneet Gujral, Sustainable Design Consulting.
“The redevelopment of the former Civic Arena site will enhance downtown Pittsburgh and benefit the entire Pittsburgh region, taking advantage of one of the most vibrant markets in the United States,” Pelusi. “Given the economic growth in the region, this is the right time for the Penguins to move forward with the project.”
The plan is to seek a Leadership in Energy and Environmental Design (LEED) – Neighborhood Development (ND) accreditation for the development.
Jones Lang LaSalle is to assist the Pittsburgh Penguins organization through six specific steps:
- Project initiation, including market and financial analysis and review
- Developing a master plan and reviewing infrastructure needs
- Securing land use approvals from planning authorities
- Marketing to tenants and financing sources
- Working with public agencies to get the necessary infrastructure in place
- Ongoing property management and development
Jones Lang LaSalle has a corporate office in Pittsburgh employing more than 400 real estate professionals.
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