Economy
Important streets in South Side are E. Carson Street, Josephine Street, and S. 18th street. The business district is located along E. Carson Street, which runs the length of South Side. The Birmingham Bridge makes South Side easily accessible from Pittsburgh, which is around 2 miles away from South Side. Station Square is about 1.5 miles west of South Side, and Mt. Washington is 2.5 miles away. The average South Side family income in 2003 was $41,353.
South Sides E. Carson St. has restaurants, bars, and shops that help support the economy of South Side. Some bars and restaurants include Jack's Bar, Fat Heads Saloon, and over 50 others. The large variety of shopping along E. Carson Street and SouthSide Works is also a factor in South Sides economy. There are a variety of locally owned stores such as Pittsburgh Jeans Co. and wide spread stores such as American Eagle, H&M, and Nine West. The Urban Redevelopment Authority started the SouthSide Works project hoping to create over 6,000 jobs. Today, SouthSide Works has over 10 shopping stores and over 10 restaurants & bars. The restoration of the business district has improved South Sides economy dramatically and house sales have jumped $ 75,000 in the past 10 years along with vacancy dropping below 10%.
The South Side is also home to a variety of service businesses and reconverted office buildings. Many businesses locate here because rents are less than in Downtown Pittsburgh. The Pittsburgh Terminal Properties building has been converted into River Walk Corporate Center. Tenants are a mix of light industrial (The Paper Company), professional (LDA Architects), and storage for Pittsburgh businesses and residents (City Center Self Storage).
South Side Local Development Company (LDC) helps the economic development in the neighborhood. Under LDC, the Neighborhood Assistance Program was created. The NAP is partners with PNC bank and able to fund programs to create jobs and housing production with their $2.5 million grant. Since 1982, LDC has created over 250 new businesses, renovated over 200 stores, and built over 700 new homes. South Sides redeveloped downtown has increased apartment sales and attracted a lot of nightlife in the neighborhood.
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Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)