PITTSBURGH,None — PNC Financial Services is planning a $400 million skyscraper to serve as its headquarters in downtown Pittsburgh.
The finance giant unveiled plans for the new 40-story building Monday after spending the last year quietly acquiring seven properties.
PNC chairman and CEO James Rohr said the Tower at PNC Plaza will be a symbol of the company's "deep bond" with the region.
Rohr said PNC's workforce has doubled over the last decade thanks to expansion and acquisitions. About 3,000 employees will work in the 800,000-square foot building, including PNC's top executives.
"Assets at PNC have grown 400 percent since 2000," said Rohr.
Rohr said PNC will foot the entire bill for the project and is not seeking public money.
PNC still needs to acquire three properties from the redevelopment authority. Construction is expected to start next year and is scheduled to wrap up in 2015.
The building will be located at the corner of Fifth and Wood streets. The new tower will be the fourth tallest building in Pittsburgh.
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