PNC to unveil big Downtown project (Philadelphia, Pittsburgh: apartments, condo, buyer)

[airwave09]

Mystery buyer finally revealed... It looks like some people's suspicions were in fact correct!

Headquarters may move to new tower

Tuesday, May 17, 2011

By Mark Belko, Pittsburgh Post-Gazette


PNC Financial Services Group is poised to reveal itself as the buyer of more than $18 million of property Downtown accumulated to launch a major redevelopment project.
The bank is set to announce Monday that it will be building, in the block of Wood Street between Fifth and Forbes avenues, another office tower, which likely will be its new headquarters, according to persons knowledgeable about the project.Moderator cut: quote shortened, copyright protection

Read more: PNC to unveil big Downtown project

[BrianTH]

If in fact they plan to make this their new HQ building, they may be designing something cool.

However, I hope they are planning to save the facades along Forbes, and if not, I hope they can be persuaded to change their plans to do so.

[ex-burgher]

Looking at Street view, there are some nice facades that would probably be destroyed.

[FreightTrainRunning]

In all, PNC has acquired seven properties in the block. The assemblage starts on Wood and extends up Fifth and Forbes avenues to Warner Centre.

So does that mean it includes the Warner Center or it's up to but not including it? The Post-Gazette's writers can be maddeningly vague. If the Warner isn't included, the only facade that seems worth saving is the Rite-Aid. I guess that we'll have to wait until monday to get the details.

PNC does have a pretty good recent record of building interesting designs, Three PNC is a very cool addition to the skyline and I like the First Avenue building too.

[ex-burgher]

What about next to the old Honus Wagner Store on the other side - don't know what it is - looks like an old bank building.

[ex-burgher]

Never mind - that's the wrong side of the street!

[Geeo]

Sounds like they're planning a nice signature tower for the nations fifth (or sixth) largest bank. I hope it's tall and striking. Another 5,000 people working in that block will really add to street life.

[Blackbeauty212]

Fantastic....Finally something concrete about replacing downtowns main eyesoar block....

OT: Is it just me or does it seem like for the last 10 years or so there has been steady construction on 5th from Grant to Liberty...I mean in that time has 5th ever gone a period without construction going on?

[bradjl2009]

I hope this is a lot taller than 23 stories. It would be nice to have a building at least 40 stories tall but I think I'd settle for at least 30. With the tight office demand downtown, I'd say they could get enough demand to make it 40 stories or maybe more taller. I know PNC was a bit smaller in 2005/2006 when they started 3 PNC, but I always thought there would have been enough demand to make the building (which I really like) taller.

Edit: I've also always thought that was a section of Downtown where PNC bought the properties was in sore need of something to revitalize it. Didn't Millcraft also plan a few years ago to put apartments on that same block?

[pman]

Originally Posted by bradjl2009

I hope this is a lot taller than 23 stories. It would be nice to have a building at least 40 stories tall but I think I'd settle for at least 30. With the tight office demand downtown, I'd say they could get enough demand to make it 40 stories or maybe more taller. I know PNC was a bit smaller in 2005/2006 when they started 3 PNC, but I always thought there would have been enough demand to make the building (which I really like) taller.

Edit: I've also always thought that was a section of Downtown where PNC bought the properties was in sore need of something to revitalize it. Didn't Millcraft also plan a few years ago to put apartments on that same block?

maybe they'll consolidate into the new building...leaving them to expand condo space and put other buildings back on the market. that's the only way I see a large, iconic tower being built. it's not unthinkable, comcast did just that a few years ago in Philadelphia vacating several buildings to fill a large, new landmark tower in its hometown....and they may be tired of having so many different buildings and with tight office demand, it's a good time to vacate them.