As developments on Pittsburgh’s North Shore move forward, with the long-awaited Esplanade, replete with a giant Ferris wheel, to be underway soon, it may be time for the South to rise again.

 
Station Square’s new owner, Boston-based WS Development, aims to reimagine the property along the Monongahela River. A cornerstone of Pittsburgh’s waterfront revival since the 1970s and built on the former site of the Pittsburgh & Lake Erie Railroad, Station Square is poised for rejuvenation.

 
It marks WS’s first property in Pittsburgh, the company confirmed to the Business Times.

 
WS announced the deal early on Nov. 21 after almost a year of reports that it sought to buy Station Square from Brookfield Properties. Financial terms were not disclosed.

 
Jeremy Sclar, WS chairman and CEO, said in a prepared statement that it was inspired by Station Square’s history and excited to build on that foundation “as we imagine a future that sees this one-of-a-kind, mixed-use destination reach its full potential in serving the community and bringing exciting partners to Pittsburgh.”

 
It declined to provide details at this time of its plans for Station Square. WS said it will “continue to share updates as the months progress.”

 
WS’s track record indicates it is well-positioned to handle the transformation.

 
The 35-year-old WS conceptualizes, owns, operates and leases more than 100 properties spanning over 24 million square feet of existing space and another 9 million square feet under development. It describes itself as having a singular mission of creating places where people want to be. It is recognized for waterfront developments in the Boston area that include major offices spaces and retail destinations, such as One Boston Wharf Road and 111 Harbor Way.

 
WS is also involved in a large-scale project near Fenway Park in Boston, in partnership with the real estate arm of Fenway Sports Group, which also owns the Pittsburgh Penguins. The still-unfolding Fenway Corners includes plans for millions of square feet of mixed-use space. The Boston Business Journal, a sister publication, reported that WS presented plans during the summer for a a seven-story brick building that would aim to fit into its surroundings, including the 113-year-old ballpark. WS said it wants the building to “embrace and enhance the urban grit that exists today in a really meaningful way.”

 
WS’s portfolio includes multiple projects across 14 states geared to specific neighborhoods, needs and populations, from the Royal Poinciana Plaza in Palm Beach, Florida, with high-end retail showcasing exclusive designer brands to more affordable venues.

 
Herky Pollock, president and CEO of Pittsburgh-based Legacy Realty Partners, knows WS well from working with it on Millcreek Town Center in Erie. Pollock described Millcreek as “very different” from the aforementioned developments and, almost certainly, Station Square. Tenants include Walmart, and an Aldi announcement is pending, he said.

 
Station Square lost several retailers over the past decades and many restaurants during the past couple years. But the landmark Grand Concourse restaurant and other gems, such as high-profile corporate and tech tenants, provide a solid foundation for WS.

 
“Station Square is an iconic asset, a well-known landmark in Pittsburgh that has lost its way, and it takes a developer of WS’s caliber to see the potential and to come in and reclaim Station Square to what it can be,” Pollock said. “It’s going to take a total redevelopment to [Station Square’s] retail component, but if there’s ever a developer who can do that, WS is that developer.”

 
Pollock believes WS coming to town has major and positive ramifications for the city.

 
“Any time we can land one of the nation’s largest privately held developers, it speaks volumes about what Pittsburgh has become and the future promise of Station Square,” he said. “WS has very strong and deep relationships with retailers and restaurants, and it’s going to bring a whole different breed of retail here that might not have otherwise looked at Pittsburgh. They will attract the best and brightest around the country, perhaps the world, and that’s a remarkable coup for Pittsburgh.”

 
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