$100 Million Restoration Launches UTB’s “Second Century of Extraordinary;” firm repositions 500,000-square-foot historic landmark as LEED® certified with modern office space, vibrant retail, inviting public spaces, class-A amenities and 28 pieces of original, Pittsburgh-inspired art
Pittsburgh, PA (June 23, 2016) – The Davis Companies (TDC) has unveiled the newly re-envisioned Union Trust Building, a 500,000-square-foot architectural landmark designed and constructed in 1915 and located at 501 Grant Street in the heart of Pittsburgh’s Mellon Square. Following a $100 million restoration, TDC has retained the building’s unique architectural features and historic charm, while redefining its future as a 21st century, LEED® certified, mixed use retail/office building with state-of-the-art amenities and 28 original Pittsburgh-inspired works of art.
Boasting modern office amenities with appeal to a wide range of tenants from tech-startups to corporate users to law and other professional service firms, the building now offers energy efficient Class-A, office, retail and restaurant space; a 5,000 square-foot state-of-the-art fitness center; a newly renovated 70-seat conference facility and 400-seat auditorium; a 190-space underground parking garage with valet service and onsite bicycle storage. Centrally located in Mellon Square, the Union Trust Building is directly adjacent to the Mellon Bank Center light rail public transit stop and numerous bus lines, and easily accessible by public transportation.
“It is quite an accomplishment to have one of our most iconic buildings be restored to its turn-of-the-century grandeur. To have that restoration also recognize and reflect the use of the Union Trust Building for the current and future occupants is an important piece of the economic growth of our region,” said Allegheny County Executive Rich Fitzgerald. “We congratulate The Davis Companies for this milestone and thank them for their investment in our community.”
“The Davis Companies’ restoration of the Union Trust Building is a symbol of the city’s resurgence and flourishing character,” said Pittsburgh Mayor William Peduto. “The building looks spectacular and contributes to the city’s evolving urban fabric as dynamic and modern with beautiful historic charm. We are thrilled with its newfound potential in Mellon Square as a result of their smart investment and development.”
“Having grown up in Pittsburgh, I have always admired this building and am delighted and honored to be able to help realize its potential as a centerpiece of Mellon Square’s revitalization,” said Jonathan G. Davis, CEO and Founder of The Davis Companies. “The Union Trust Building is now a vibrant mixed use facility, with first class infrastructure and interior finishes, an energetic lobby accessible to the public, a wide variety of destination dining options for lunch and dinner, fitness, parking, conference and other amenities and commissioned art that honors Pittsburgh’s past while looking toward the future.”
The Union Trust Building is home to Truefit, a Pittsburgh-based software technology innovation firm; Blank Rome, an international, multi-disciplinary law firm; Nokia Corporation, a global communications technology company; Amec Foster Wheeler, a global engineering and project management firm, and Novitas Solutions, a medical payments processing firm. Acclaimed Pittsburgh Chef Derek Stevens will open his first solo venture, Union Standard, activating 7,300-square-feet in the building this fall. Nationally renowned seafood restaurant Eddie V’s will also occupy 9,400-square-feet on the building’s corner spot at Grant Street and Fifth Avenue by early next year.
Constructed in 1915 by the industrialist Henry Clay Frick, the Union Trust Building’s Flemish-Gothic design makes it one of the most prominent pieces of the city’s architectural heritage. Working with Boston-based Elkus Manfredi Architects, TDC’s renovation celebrates the building’s rich history through meticulous modern design upgrades, while delivering a 21st century office environment. TDC selected the Pittsburgh-based construction manager Mascaro, which has a distinguished track record of historic preservation, to assure that the building’s unique features are preserved; for example, its intricate terra cotta mansard roof was restored using the same terra cotta molds as Frick’s craftsmen in the early 1900s.
The Union Trust Building is now an ideal work environment and neighborhood asset. It welcomes tenants and visitors with an expansive, sophisticated lobby with high ceilings and marble floors. The refurbished lobby boasts a concierge desk and elevators of restored bronze and brass, a central coffee and cocktail bar, comfortable gathering spaces and an impressive 150 foot high rotunda with an outstanding, original stained-glass skylight.
Now home to 30 carefully selected, original pieces of Pittsburgh-inspired artwork in various media from renowned artists, the building includes Alexandra Pacula’s original oil on canvas of the city as seen from the US Steel Tower; Stephen Sheffield’s mixed media collages incorporating historic Pittsburgh imagery and original designs, Kevin Marcell’s four commissioned screen print paintings on Pittsburgh maps from different decades, and John Barbiaux’s 14 commissioned photographic collage murals using contemporary Pittsburgh street scene photography face-mounted to acrylic. A total of 19,060 square feet of luxurious, richly hued, hand-tufted New Zealand wool carpeting lays throughout the building’s common corridors. The carpet color changes, in coordination with the art on each floor, as it moves up through the atrium, graduating from blue on the ground floor to gold/amber on the top floor, a color scheme that represents the Union Trust Building’s beautiful evolution, an evolution which will contribute to Mellon Square’s spirit for years to come. Mellon Square is already experiencing a resurgence of new boutiques, eateries, residential properties, hotels and parks.
About The Davis Companies
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested over $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities.