A new 150,000 square-foot facility, is planned for The Pittsburgh Technology Center. Cleveland-based Ferchill Group’s proposal for the five-story building, called Bridgeside II, was approved by the URA board on Feb. 15th. Once construction drawings and financing is approved, the URA is expected to sell the 1.6-acre parcel to Ferchill for $510,000. Two-thirds of the $46 million development will contain wet lab facilities; the remaining space will house offices. Foundation work is slated to begin within 60 days.
“Ferchill has been very successful with their buildings. They’re bullish, not only on Pittsburgh, but on lab space, and are prepared to continue working throughout the site,” says Robert Rubinstein with the URA. Ferchill, who also developed the Cellomics Building and Heinz Lofts, is working with Strada. "It's a significant milestone in the development of the technology center," says URA executive director Jerome Detorre.
“While they’re talking with some prospects, it’s going to be built speculatively; they don't have a tenant at this point,” adds Rubinstein, who says that Ferchill has the option to build an adjacent, 120,000 square-foot facility once the new site is 50% leased.
“The expectation is that they’ll be university-affiliated tenants, typically looking for laboratory space--that’s where there’s a demand,” says Rubinstein. “Our goal is to accommodate up to one million square feet of additional growth that cannot be accommodated in Oakland proper.” To accompany the project, the URA will build a 750-car parking garage along the waterfront technology zone. Future plans for the technology center may include mixed-use and hotel developments.
Writer: Jennifer Baron
Source: Robert Rubinstein; Jerome Dettore
Image courtesy of The Ferchill Group/Strada