FNB to build financial center on Civic Arena site

F.N.B. Corp. plans to build a 26-story financial center on the site for the former Civic Arena in Pittsburgh.
Gov. Tom Wolf announced on Monday that F.N.B., holding company First National Bank, is entering a joint venture with Pittsburgh Arena Real Estate Development LP and Buccini/Pollen Group to develop the mixed-use tower. The project, according to a news release, will result in the creation of 160 jobs.
The Pittsburgh-based firm, a publicly traded company, said it has committed to investing more than $220 million into constructing the center.
Pittsburgh Arena Real Estate Development is the development arm of the Pittsburgh Penguins. Buccini/Pollin Group Inc. is a privately held, full-service real estate acquisition, development and management company.
F.N.B. plans to move headquarters staff into the new tower. The developer, according to the release, wants to have more than 45% Minority/Woman-Owned Business Enterprise participation in the development.
This will be the first development on the 28-acre Lower Hill Redevelopment site, with a targeted opening in 2023. Plans call for 471,890 square feet of Class A office space, 20,000 square feet of retail space on the first floor, and two floors of parking.
FNB Financial Center will be the first office tower built in Pittsburgh since 2015.
Wolf said in a prepared statement: “This development will provide more than just a safe, state-of-the-art working space for thousands of employees in Western Pennsylvania. It will benefit the surrounding community and actively engage minority and women-owned businesses in the area.”
F.N.B., whose roots date to 1864, has more than $37 billion in total assets and an estimated 350 bank branches.