Wilmington-based Buccini/Pollin Group (BPG) and an affiliate of the National Hockey League’s Pittsburgh Penguins announced plans to develop a 400-foot-tall office tower on the former site of the Pittsburgh Civic Arena.
The project has secured one of the region’s leading financial institutions F.N.B. Corporation (FNB) as anchor tenant for and partner in the development. FNB is a regional banking company.
On December 12, BPG submitted a letter of intent to transform 1.25 acres of surface parking lots for downtown employees and patrons of PPG Paints Arena, at the intersection of Washington Place and Bedford Avenue, into a ower.
The project vision calls for a 500,000 square foot building with a mix of amenities, restaurants, public parking and modern offices.
FNB will lease over 160,000 square feet of commercial space in the tower across eight floors, with additional options to expand to accommodate future growth. The project includes an outdoor gathering space that will provide access to parkland that will be one of the main features of the 28-acre, mixed-use district.
“This is one of the most significant projects in our company’s history,” said BPG’s Managing Partner Chris Buccini. “This tower will energize a long-sought transformation between growing districts in Pittsburgh’s downtown and around the universities in Oakland. It will unlock hundreds of millions of dollars of private investment. We have an enormous responsibility to our world-class partners and to the city to get this right after a lengthy and inclusive planning process, where a wide range of contributors worked collaboratively to lay the groundwork for Pittsburgh’s next great place.”
“It’s time to allow residents of – and visitors to – Pittsburgh the opportunity to enjoy the full potential of our city’s downtown and this signature development is part of just the first phase that will transform these parking lots into a dynamic, regional Center of Energy,” observed Penguins CEO David Morehouse.
“We are excited about how the planning effort has progressed to date and, over the next few months, we will engage in a robust public discussion regarding this transformational project that will soon grace Pittsburgh’s skyline,” said Boris Kaplan, BPG’s Vice President of Development. He noted that “since initial redevelopment plans were announced in the Spring of 2019, leasing interest in this central, mixed-use district has been very strong and will soon translate to additional tenancy announcements for the signature tower and future project phases.”
Developers expect final municipal approvals for the project in the next six to nine months, at which time they will break ground and commence tower construction.
