PNC Financial Services Group announced final designs for PNC Three, a 752,000 square foot, 23-story high-rise on Fifth Avenue next to its Fifth and Wood headquarters that will extend the corporate campus west to the end of Market St. The project will create 800 construction-related jobs with a $35 million payroll.
The property will include 320,000 square feet of office space, a 185-room, 11-story, upscale hotel, a 10-story, 30-unit luxury condominium, a restaurant and retail, and 330 parking spaces.
“This is especially significant because it is the first new high rise built downtown in 20 years. It serves as an impetus for additional development in the Fifth-Forbes corridor,” says Gary Saulson, director of corporate realty services for PNC.
Gensler Architects of San Francisco are designing the building in collaboration with
Astorino of Pittsburgh. Project developer is
Oxford Development Company.
Reed Smith, a top-25 international law firm, will occupy 50 percent of the
office, while PNC will occupy 25 percent. PNC will soon announce a major
hotel operator.
Three PNC Plaza is designed to meet LEED (Leadership in Energy and Environmental Design) standards established by the U.S. Green Building Council.
The only major U.S. bank to build green banks, PNC has opened 24 green branches since 2002. “We think it is the right thing to do for our customers, our shareholders, and the community within which we live and work,” says Saulson.
Green elements for Three PNC include a minimum of 50 percent of construction materials made from green and/or recycled materials along with daylighting, and high efficiency heating and cooling systems. Consulting for green building is by
Paladino and Company of Seattle.
Construction will begin in August with an expected completion date in late 2008. Over the next three to five years, PNC expects to add 1,000 employees to its Pennsylvania payroll, with many positions based in Pittsburgh.
Writer: Jennifer Baron
Sources: Gary Saulson, director of corporate realty services, and Darcell Kimble, spokesperson, PNC Financial Services Group
Image courtesy of PNC