State officials consider sale of Downtown office building

[UrbaniDesDev]

I think this is good news. It would put the property back on the tax books. I hope they keep the employees downtown.

It'd make great condos!!!

http://www.post-gazette.com/pg/06168/699074-53.stm

State officials consider sale of Downtown office building

Saturday, June 17, 2006

By Tom Barnes, Post-Gazette Harrisburg Bureau

HARRISBURG -- If you've ever wanted to own a 16-story, gray-jacketed office building that overlooks Point State Park in Pittsburgh, now may be the time to make your move.

The state Department of General Services is looking at whether to sell the State Office Building as a way to reduce state operational costs, department spokesman Ed Myslewicz said yesterday.

"We are in preliminary marketing evaluations and discussions about a potential sale" of the office high-rise, in a scenic location with a nice view of the park, the rivers and The Point fountain, he said.

"We look at it as a way to drive down our costs. We're always looking at saving taxpayers' money."

The idea would be to make more money on the sale of the building than it would cost to rent the same amount of office space elsewhere in Downtown Pittsburgh for the 920 employees who work in the building.

He stressed that the plans don't include laying off any state workers. The same number would work in various rented locations in or around Downtown as work now in the office building.

If the Pittsburgh property is sold, the model used for the sale would be the upcoming sale of the state's 18-story office building in Downtown Philadelphia, where 1,000 state workers toil.

General Services will soon introduce legislation in the General Assembly to sell that building and hopes for approval by the end of the current session Nov. 30, Mr. Myslewicz said. It might even be done before the summer recess starts June 30.

He wouldn't give appraisal figures for a potential price of either the Philadelphia or Pittsburgh buildings. But he said the department thinks it can save the state $52 million over the next 20 years by selling the Philadelphia office structure and renting space on the private market.

Besides saving the state money, the move would put the building back on the tax rolls and increase the strength of the office rental market in the state's largest city, he said.

"We look at it as a win-win situation,'' he said.

[TheGerbil]

We're always looking at saving taxpayers' money

I'm sorry, I got a little distracted! Yes, I think this would be great. Condos in that building would be very popular.

[PghUSA]

Condos? True there is Point State Park right there, too bad it isn't closer to the convention center where it could transition into a 500 bed hotel!