Innovation in a Nutshell

From the Blog

Innovation District Packs a Punch in a Compressed Footprint

Investment and partnership are key to capturing the outsized potential of Pittsburgh’s Innovation District, according to its director, Mike Madden.

The 1.7-square-mile district, of which Oakland is the heart, constitutes more than one third of Pennsylvania’s university research output. To ensure that Pittsburgh continues its role as a trendsetter among peer cities, the district must leverage both public and private support to ensure that its benefits are inclusive.

To do this, the district needs to strategically develop its footprint while also addressing challenges such as housing, transportation and access.

University and regional leaders agree that optimizing development of the limited real estate along Fifth and Forbes Avenues will help facilitate the economy of the future for the Pittsburgh region.

Warhol Museum to Create $60 Million, Six-Block Pop District

The Andy Warhol Museum is establishing a $60 million, six-block Pop District in its surrounding neighborhood in a reimagining of the famed artist’s Factory studio, per The New York Times.

The project, which is estimated to take about 10 years, will be built in two phases, the first of which is financed through commitments of $15 million from the Richard King Mellon Foundation and $10 million from the Henry L. Hillman Foundation.

In addition to providing a basis for expanding the museum’s endowment, the district is also intended to create new sources of income and attract other development and visitors. It will include a new performance venue that will accommodate 800 to 1,000 people that will be built in 2024.

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