Millcraft Investments

Millcraft Industries, Inc.
Company typeCommercial real estate
HeadquartersCecil Township, Pennsylvania, U.S.[1]
Key people
Jack B. Piatt (chairman)[2]
Websitemillcraftideas.com
Millcraft Investments previous logo
Former logo prior to re-branding effort

Millcraft Industries, Inc. is a real estate and development company based in the Pittsburgh suburb of Cecil Township, Pennsylvania.

History

Millcraft began as a steel production company before expanding into real estate.[3] In 2005, following a deal with Hilton Hotels and an expanding commercial real estate business, Millcraft formally exited the steel industry.[1]

The company has a strong presence in Western Pennsylvania.[1]

In 2012, the Wall Street Journal praised Millcraft's River Vue apartment building as being part of a renewed push for livability in Downtown Pittsburgh.[4]

In 2008, Millcraft CFO Brian Walker, won the Pittsburgh Business Times CFO of the Year award in the "Large private company" category.[5] The award was largely the result of Walker's ability to use the New Markets Tax Credit Program to finance previously impossible projects in Downtown Pittsburgh.[5]

In March 2009, Millcraft purchased the Pittsburgh State Office Building.[6] The sale was criticized by Pennsylvania State Auditor General Jack Wagner, who noted that the $4.6 million sale price was half its appraised value.[6] He said that the plan would cost the taxpayers nearly $55 million in leases to move state workers to other buildings.[6]

The company owns and developed the Southpointe complex and "The Crossroads Project," a $100 Million renovation of the streets of Downtown Washington, Pennsylvania.[2]

The company is developing a $700 million mixed-use project called the Esplanade. [7] The project is to be located on the Ohio River in the North Side neighborhood of Pittsburgh, Pennsylvania, with development plans including a Ferris Wheel, man-made lake and four towers that will include a hotel, condominiums and apartments.

References

  1. ^ a b c Sandler, Robert (November 25, 2005). "Millcraft exits steel business". Pittsburgh Business Times.
  2. ^ a b "Millcraft Industries, Inc. :: OUR PROJECTS". Millcraft Industries, Inc. Archived from the original on 2011-01-12.
  3. ^ "Millcraft Industries, Inc. :: OUR COMPANY". Millcraft Industries, Inc. Archived from the original on 2011-01-12.
  4. ^ Sadovi, Maura Webber (March 13, 2012). "More Living in Steel City". Wall Street Journal.
  5. ^ a b Carbasho, Tracy (November 7, 2008). "Walker moves Millcraft forward". Pittsburgh Business Times.
  6. ^ a b c Stouffer, Rick (August 27, 2009). "Pennsylvania auditor general critical of State Office Building sale". Pittsburgh Tribune Review. Archived from the original on August 30, 2009.
  7. ^ "$700M Esplanade mixed-use project in Pittsburgh teases man-made lake". Construction Dive. Dec 21, 2018.