STRIP DISTRICT NEIGHBORS RELEASES 2023 “STATE OF THE STRIP” REPORT
Strip District Neighbors released its third annual “State of the Strip” report Thursday evening during its Town Hall meeting at CADENCE+ At the Strip.
Strip District Neighbors released its third annual “State of the Strip” report Thursday evening during its Town Hall meeting at CADENCE+ At the Strip. The report is a powerful tool for advocacy and planning for the Strip District neighborhood.
The report shows that the residential and retail sectors are robust but hospitality, mobility, and office are still recovering from the pandemic and other economic factors in the Strip District, Allegheny County, and the United States.
“The Strip District continues to be a magnet for businesses and residents,” said Pamela Austin, President, and Board Chair of Strip District Neighbors. “The Strip is an essential part of the innovation economy in Pittsburgh and is a powerful fiscal engine.”
The neighborhood welcomed 17 new retail shops, studios and restaurants and is tracking 11 more openings soon. In particular, entertainment venues have been drawn to the Strip District.
The Strip District’s population increased again to over 3,100 residents as Forte condominiums, The Franklin on Penn, and Mulberry Lofts were delivered. Another 2,200 units are planned, so it is projected that the rapid transformation of the Strip as a residential neighborhood will continue for the foreseeable future. Notable projects in the pipeline include Brickworks (McCaffery and Laurel Communities), The Maxx (Hudson Companies), 31st Street Studios (North River Co.), and Penn 23 (Francois Bitz).
Three residential properties sold for over $1 million in 2022 and four to date in 2023, two of which were over $2 million.
The neighborhood welcomed two notable institutions in the Southwestern Pennsylvania Commission—the region’s designated Metropolitan Planning Organization (MPO) and Local Development District (LDD), the R.K. Mellon Foundation, as well as a big name in tech, Oshkosh Corporation.
“We are beyond thrilled to have our organization headquartered in The Terminal,” said Vincent Valdes, Executive Director of the Southwestern Pennsylvania Commission. “The Strip District is not only one of Pittsburgh’s most vibrant neighborhoods, it is an area of town that simultaneously embodies the city’s past, present, and future. As our organization looks to helping propel Southwestern Pennsylvania forward, we want our staff to draw inspiration from their surroundings—being here in the Strip District certainly provides that.”
“The Strip’s unique factor is one that gives us a competitive edge when selling the region domestically as well as internationally,” said Mike Harding, vice president, business investment, Pittsburgh Regional Alliance. “Thanks to the Strip, our broader tech ecosystem of the region is now connected.”
To access the full 2023 “State of the Strip” report, CLICK HERE.
Strip District Neighbors
Strip District Neighbors is a registered 501(c)(3) non-profit organization with the mission of promoting economic development and a high quality of life in Pittsburgh's Strip District while preserving the personality, integrity, and character of the Strip. For more information, visit StripDistrictNeighbors.org. For additional updates on the Strip District, follow Strip District Neighbors on Facebook, Twitter, and Instagram.