BNY opens new Downtown office amid overhaul
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BNY's Ross Street building adds some new modern office space to Downtown. Photo: Courtesy of BNY
One of Pittsburgh's oldest companies says it is recommitting to Downtown with a renovation in the central business district.
Why it matters: Downtown is still in transition after large job losses spurred by the rise of remote work, but in-person workers are returning thanks in part to office upgrades and new construction.
Context: BNY is vacating the 55-story skyscraper at 500 Grant St. that bears its logo and moving into the 500 Ross St. building next door. Most of the renovations are complete, BNY CEO Robin Vince said Monday at a press conference announcing the opening of the Ross Street office.
- The company, formerly Bank of New York Mellon Corp., has had a presence in Pittsburgh for more than 150 years.
Zoom in: The Ross Street upgrades renovated 700,000 square feet across five floors.
- That includes a new rooftop terrace that offers spectacular views of the tower at 500 Grant St., the U.S. Steel Tower, and the FNB Financial Center, the city's newest skyscraper.
- A specific cost was not provided, but Vince said Monday at the Ross Street building that the company has "invested hundreds of millions of dollars in our facilities, our employees, and the technology built here."
Zoom out: Downtown is getting an injection of $600 million in investment to help convert empty, older offices to residential units and spruce up the neighborhood.
What's next: Vince said BNY has already hired 240 temporary summer analysts from local universities to work at its remodeled Ross Street offices.
- BNY spokesperson Ryan Wells tells Axios the company expects to hire a few hundred full-time analysts in August.
Editor's note: This story has been corrected to say that BNY's Ross Street office opened (not that renovations are complete).