FNB announces plans for 24-story office tower on former Civic Arena site

First National Bank announced plans Thursday to anchor the Penguins’ long-awaited development in Pittsburgh’s Lower Hill District with a 24-story, $200 million office tower that will include its corporate headquarters, first-floor shops and a state-of-the-art FNB branch.

FNB Financial Center, planned for the corner of Washington Place and Bedford Avenue, includes more than 387,000 square feet of office space, more than 20,000 square feet of ground-floor retail space and a two-story parking garage. The project includes a plaza adjacent to the building where the company plans to host community events.

Vincent J. Delie Jr., FNB’s president and CEO, said in a statement that it was important for the company established more than 150 years ago in Greenville in Mercer County to be an instrumental part of Pittsburgh’s development.

“Being raised in Pittsburgh, I have experienced the city at its highest and lowest points, including its continued progression to becoming a globally recognized destination for innovation, culture and equality,” he said. “FNB Financial Center will serve as the cornerstone for our local teams to join together, trade ideas and knowledge, interact with the local community and make a positive impact in the city we call home.”

Currently located in the North Shore, the company will consolidate its regional headquarters operations in the new building, creating a central hub for executive offices and multiple divisions within the bank’s commercial, consumer banking, wealth and support departments.

“We are very pleased that FNB has stepped forward to provide equity capital and become the first major corporate tenant on this site,” Penguins President and CEO David Morehouse said in a statement. “Through their vision and commitment to Pittsburgh, FNB will be a true catalyst, leading the way for everything that happens in the development moving forward.”

U.S. Steel was originally expected to anchor the development. In 2014, CEO Mario Longhi announced plans to move the corporate headquarters out of the U.S. Steel Tower to a new five-story building at the site. The company canceled those plans in 2015 during a market downturn.

The Penguins, which own development rights to the 28-acre former Civic Arena property, are planning a $750 million development dubbed the Centre District, a mixed-use residential, retail and entertainment complex. The team earlier this year named the Buccini/Pollin Group as master developer.

FNB said Buccini/Pollin would also develop its office tower.

The Pittsburgh Urban Redevelopment Authority gave preliminary approval in October for the Penguins to begin a first phase of construction estimated at $210 million.

Plans include a parking garage with 288 spaces, a live entertainment venue along Logan Street between Bedford and Wylie avenues and two residential buildings at the southeast corner of Wylie Avenue and Fullerton Street — one six stories and the other 12 stories — with 288 apartments and an 221-space underground parking garage.

The Pennsylvania Department of Transportation began construction this summer on a $32 million cap across Interstate 579, designed to link the Lower Hill District and Downtown via a three-acre park.

FNB operates about 90 locations with more than $7.5 billion in deposits across the Pittsburgh region and $34 billion in total assets.