PITTSBURGH (KDKA) – Ground was broken on a new project in East Liberty Thursday morning.
It’s called Bakery Square 2.0.
Bakery Square has helped transform the East Liberty area and brought in businesses like Google.
Now, the neighborhood is getting another big boost.
Mayor Luke Ravenstahl, along with other state and local leaders, officially broke ground on Bakery Square 2.0.
The $120 million development will feature retail and office space, housing and brand new apartments and townhomes.
It will all be situated on a 12-acre piece of property right across the street from the former Nabisco building.
“We can’t build it fast enough. The demand is there, the interest is there. This community is growing and we really think the sky is the limit for projects like this here in Pittsburgh,” Ravenstahl said.
With the location close to the University of Pittsburgh and Carnegie Mellon University, leaders said the new housing is essential to future growth.
“We want to continue to grow our population and have good, quality housing opportunities and options for young professionals and people who want to stay in the city and this project will do that as well,” Ravenstahl said.
Bakery Square 2.0 is expected to create more than 2,300 jobs and generate around $7 million in annual tax revenues.
Federal, state, and local money will all help pay for the project.
“This is not just about bricks and mortar, it’s about people, it’s about people’s passions, it’s about people’s visions for redefining a neighborhood that truly is inclusive,” State Sen. Jim Ferlo said.
As for the timeline of this project, the first phase, which includes the apartment housing, is scheduled to be completed by the summer of 2014.