If you’ve heard about Pittsburgh’s proposed $740 million riverfront development, you may be wondering what is actually happening at the site right now.
The project, known as the Esplanade, is planned for Pittsburgh’s North Side along the Ohio River, just west of Rivers Casino and the stadiums. Plans include apartments, condos, restaurants, a hotel, marina, public spaces, and one feature that has received plenty of attention — a large observation wheel.
But if you drive past the site today, you’re not going to see a new riverfront neighborhood or a giant observation wheel.
The project broke ground in December 2025, and the development is still in its early stages.
Watch: What’s planned for Pittsburgh’s $740 million Esplanade development, what’s happening at the site now, and what to watch next.
What Is the Esplanade?
The Esplanade is planned for approximately 15 acres along Pittsburgh’s Ohio River waterfront.
Developer Piatt Companies has proposed transforming the former industrial property into a mixed-use riverfront destination where people could live, dine, shop, walk, and spend time along the water.
Current plans could eventually include up to 750 apartments and 126 riverfront condos, although the final housing mix could change.
The development also calls for restaurants, shops, a food hall, an outdoor stage, hotel, office space, marina, parking garage, parks, and improvements to the Three Rivers Heritage Trail.
And yes, the plans include the much-discussed observation wheel with enclosed, climate-controlled cabins.
It’s important to understand that the $740 million figure represents the entire proposed development — not simply the observation wheel.
What Is Happening at the Site Right Now?
Groundbreaking does not mean buildings immediately begin rising from the ground, particularly with a development of this size.
Early work can include clearing the property, removing existing structures, relocating utilities, and preparing the land for construction.
According to the current development timeline, the first phase is expected to be constructed between 2026 and 2028, with later portions potentially continuing into 2029.
Those dates are projections rather than guarantees. Large developments can change because of construction costs, financing, permitting, market conditions, and other factors.
Why This Part of Pittsburgh Matters
The location could be one of the most significant aspects of the project, particularly when looking at how Pittsburgh’s different neighborhoods connect to the city’s riverfront.
Pittsburgh’s North Shore already attracts large numbers of visitors for Pirates and Steelers games, concerts, Rivers Casino, and other events. Much of that activity, however, revolves around specific events.
Adding residential development, restaurants, trails, and additional public spaces could potentially bring more year-round activity to this portion of the riverfront.
The plans may also improve connections between the river and the nearby Manchester neighborhood.
Route 65 has separated Manchester from the riverfront for decades. Proposed improvements associated with the project include pedestrian and bicycle connections, street improvements, and additional access to the river.
What Could the Esplanade Mean for Nearby Homeowners?
One of the first questions people ask when a major development is announced is what it could mean for nearby property values.
There isn’t a reliable answer yet.
New restaurants, parks, trails, businesses, and river access can make an area more attractive. At the same time, a project that takes several years to build can also mean construction traffic, noise, road changes, and other temporary disruptions.
The value of an individual home will continue to depend on factors such as its condition, location, taxes, comparable sales, and what buyers are willing to pay.
I would never recommend buying a home simply because a developer released an impressive rendering of what an area may eventually become.
A home should make sense for your budget and your life today. If a nearby development is eventually completed as planned and improves the surrounding area, that can be an additional benefit.
What Should Pittsburgh Residents Watch Next?
Rather than focusing on announcements and renderings, watch for measurable progress.
Completed site preparation, vertical construction, confirmed opening dates, apartment leasing, condo sales, and announcements of specific businesses that have committed to the development will provide a much clearer picture of how the Esplanade is progressing.
The Esplanade could eventually become an important addition to Pittsburgh’s riverfront. The final development could also look different from what is being proposed today.
Both things can be true.
Want to see what is actually happening at the site and learn more about the complete plan? Watch my full video: Pittsburgh’s $740 Million Riverfront Project: What Is Actually Happening?
If you’re considering relocating to Pittsburgh, you can also download my Ultimate Pittsburgh Relocation Guide for help comparing communities throughout the Pittsburgh region.
Diane McConaghy
Associate Broker
Diane McConaghy Team