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Mixed-Use Three PNC Plaza Goes Green

PITTSBURGH-Final design adds about $9 million to the initial $170-million construction cost.

By Marita Thomas | Updated on July 17, 2006

PITTSBURGH-PNC Financial Services has the final design for Three PNC Plaza promising “the nation’s largest mixed-use green building,” according to a statement, confirmed by Gary Saulson, PNC’s director of corporate real estate. The construction cost has risen by between $8 million and $9 million above the initial $170-million estimate, Saulson tells GlobeSt.com, “primarily to further upgrade the residential component and increase the number of hotel rooms from 158 to 185 rooms.”

The changes, he says, “are based on demand. It’s our intent for this to be the high-end property in this market.” He expects to announce a major hotel operator soon. The 23-story, 752,000-sf building includes approximately 320,000 sf of office space, a 10-story hotel, and 30 residential condos on the top 10 floors, along with an underground garage to accommodate 330 vehicles and ground-floor retail/restaurant space.

The locally based Reed Smith law firm has committed to 50% of the office space, and Saulson says PNC, which originally planned to take about 25% of the remaining office component, will now take more. “The office portion is essentially fully preleased,” he says.

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