Michael Takacs on the Future of Land Development in Pittsburgh

Associate Michael Takacs recently contributed to Capital Analytics Associates’ Invest: Pittsburgh 2023 annual report.

Taking a 360-degree view of each metro area covered, Capital Analytics’ annual business guides provide in-depth analysis, interviews with local business and political leaders, and include comprehensive data and statistics. In his contribution, Michael observed a significant uptick in Pittsburgh’s warehousing, logistics, and distribution industry, as well as the continued evolution of Downtown.

Weighing in on the plethora of opportunities for land development to thrive in the city, Michael stated, “Pittsburgh still has great opportunity for industrial activity. This market had not previously been at the forefront of the boom in that industry as many other regions have experienced. In addition, many developers are speculating and acquiring properties for manufacturing.”

On the Central Business District’s pandemic recovery, Michael said, “It will take some time, but the growing number of units being built Downtown is encouraging, and can definitely jumpstart the recovery process.”

In addition to his outlook on development opportunities, Michael called for a more collaborative approach to regulation updates across the city. “There is some uncertainty when you begin the entitlements process today in terms of what a developer may be required to provide or permitted to do. I would like to see the city and the development community better aligned.”

The full report will be available on March 24.