Phipps Run is Schenley Park's woodland and wetland area that begins at the top of Panther Hollow near Carnegie Mellon University and leads to Panther Hollow Lake, marking the high point of the watershed.

Its reestablishment was the essential first step in renewing the ecological health of the entire area. The first phase of this work was to redirect upper Phipps Run to its original stream bed, build water basins along its path to control the flow of stormwater runoff, and establish a streamside trail to ease access along the Run.