The POWER Of The Strip

Video Credit: Studious One

McCaffery’s first investment in Pittsburgh was the transformative restoration and redevelopment of The Cork Factory. Delivered in 2006 and the winner of numerous awards, many cite this adaptive reuse project as a catalyst for the residential boom in the Strip District. Since its delivery, the population in the Strip has increased by more than 1000% and McCaffery has completed over $200M of development in Pittsburgh with another $100M in the pipeline.

Completed in 2021, The Terminal is now 97% leased and has been repositioned to house 160,000 square feet of shops, restaurants, entertainment venues, fitness offerings, and offices. Signed leases at The Terminal include City Winery, Puttshack, Novo Asian Food Hall, Shake Shack, Aslin Beer Company, Stretchlab, Posman Books and several local and regional brands.

Thanks in part to the catalytic power of The Terminal's leasing success and its proximity to some of the region’s top higher education institutions, the Strip District has been dubbed "The Silicon Strip" and has attracted tech powerhouse tenants such as Aurora, Meta, Net Health, and Excelitas. As such, the residential population in the submarket has more than tripled in the last decade.