PITTSBURGH, PA — The gigantic Ferris wheel is on its way – along with much more.

After nearly nine years of planning, Piatt companies has broken ground on the 15-acre, $740 million Esplanade project in the city’s Chateau neighborhood near the Rivers Casino. The site formerly was industrial property.

“The Esplanade marks the beginning of a transformative investment made possible through years of disciplined planning, sustained effort, and a level of collaboration that reflects true public partnership,” Piatt CEO Lucas Piatt said in a statement.

The project, as rendered by AE7 architects, could include:
• Up to 750 rental apartments from affordable to families making 80 percent of the area’s median income to luxury-end units. 126 riverfront condominiums.
• 160,000 square feet of retail.
• 120,000 square foot innovation workspace
• A splash park that becomes an ice skating ribbon in colder months.
• Upgrades to the Three Rivers Heritage Trail.
• A 225-key hotel.
• A marina with house boats, leased and day slips, marine safety facility, and public pier

• The Current: a dining culinary hub with a riverside amphitheater
What might interest people the most: Esplanade will also include a Ferris wheel with climate-controlled cabs and experiential entertainment options, while also serving homage its innovator George Washington Gale Ferris who lived on the North Side. The Economy League of Greater Pittsburgh did an economic analysis of the Esplanade and projects it will support 9,300 jobs during construction, 4,500 permanent jobs, contribute $547.7 million to the regional economy and generate $1.5 billion in additional spending locally.

The project will be done in phases with Mascaro Construction beginning site work to prepare the site for vertical construction. Site work is expected to take 12-14 months and will include razing existing buildings, relocating and installing underground utilities, and filling the site above the flood plain. Concurrently, the project team will go into final design of the buildings to be built in the next phase, including the Ferris wheel, apartments, retail, parking garage, and the Current. Construction is expected to begin on that phase in 2026 and anticipated to be open in 2028. The condominium building will be built shortly after those buildings.

The second construction phase is expected to begin in 2027 and will take approximately 24 months to complete, anticipated to be open in 2029. This phase will include additional housing, potential innovation workspace, hotel, and a specialty entertainment destination.