Downtown Partnership relocating headquarters

The Pittsburgh Downtown Partnership is on the move.

It is leaving its longtime home at 925 Liberty Ave. for the Bank Tower at the corner of Wood Street and Fourth Avenue.

The PDP will be taking 5,802 square feet of space on the first and second floors of the 16-story building, constructed in 1902 as the Peoples Saving Bank. It will be moving into its new headquarters this weekend.

Jeremy Waldrup, PDP president and CEO, said the organization decided to relocate for a simple reason: It got a good deal from building owner McKnight Realty Partners.

“McKnight made us an offer we couldn’t refuse and is giving us a great space for our team to better serve Downtown,” he said.

In addition to the PDP’s office staff, its clean team, which sweeps sidewalks and empties trash cans throughout Downtown, will move to the building and the Heinz 57 Center, another McKnight property at Smithfield Street and Sixth Avenue.

That will bring those workers closer to the heart of the Golden Triangle, Mr. Waldrup said.

The new space also moves the PDP closer to Market Square, where it does a lot of events and programming.

“We are excited to welcome a tenant of such local economic and cultural importance like PDP,” Izzy Rudolph, McKnight’s president of development and acquisitions, said in a statement.

McKnight bought the 82,000square-foot Bank Tower for $4.7 million in 2018. It has spent about $7.1 million restoring its pink granite, brick, and terra-cotta facade and making other improvements.

The building is part of a Fourth Avenue corridor that at one time was known as the Wall Street of Pittsburgh. It features marble in its lobby and a wrought iron spiral staircase with an oak banister that runs from top to bottom.

It was designed by the famed architectural firm Alden & Harlow, whose other works include the Carnegie Library and Museums in Oakland and the Duquesne Club Downtown.