Loews Hotels has signed a letter of intent with plans to build a new hotel at the David L. Lawrence Convention Center in Pittsburgh.
The announcement comes on the heels of Pittsburgh hosting the largest-ever NFL Draft – with more than 800,000 people — smashing prior predictions. A refreshed Point State Park, the new Arts Landing, and a reimagined Market Square all opened in time to greet visitors from around the country – and multiple residential conversion projects are underway.
“We have seen the success that comes when we invest in Downtown Pittsburgh. We’ve come a long way, but we’re not done yet – we are continuing to build on that momentum,” said Pittsburgh Mayor Corey O’Connor.
The Loews Hotels project will spur $418 million in total investment, including $135 million in company investment, and create 1,200 union construction jobs and 400 permanent union jobs. The Commonwealth has agreed to provide $30 million in funding to support the project, and will expedite the hotel’s entry into the PA Permit Fast Track Program, which streamlines permitting for high-impact economic development and infrastructure projects through coordinated, transparent, and predictable interagency review. Allegheny County will also provide the largest local share of financing for the deal via available financial tools designed to bring a hotel to the convention center.
The new hotel will have 500 rooms, a restaurant, and be attached to the Convention Center – serving future events in the Pittsburgh area.
“Downtown revitalization and job creation has been a priority for me since the day I was sworn in, and I’m pleased that we’re taking the first step creating 1,600 union jobs. A hotel connected to the convention center has been under discussion for two decades, but we are going to make it a reality,” said County Executive Sara Innamorato. “A hotel that provides more opportunity for the convention center to succeed is a worthwhile investment and will help our entire Downtown and regional economy thrive.”
