PITTSBURGH, PA (August 6, 2025) Piatt Companies announced that they have successfully secured a long-term refinancing deal for Piatt Place in Downtown Pittsburgh, despite the challenges being reported in the Golden Triangle’s commercial real estate market. 

The refinancing team from Piatt was led by Chief Financial Officer Art Borowski in partnership with Dollar Bank. This marks the fourth real estate financing deal between Piatt and the Downtown Pittsburgh-based bank in the past 18 months. 

Piatt Place was redeveloped by Piatt (then Millcraft) in 2009, transforming the Lazarus department store into a four-story, 219,812 square-foot mixed-use building with retail, office, and condominiums. The refinancing deal signals that despite the uncertainty in commercial real estate and related speculations about the future of office space, the mixed-use model provides diversification and placemaking that can help stabilize the long-term health of a property. 

“This isn’t just great news for Piatt Companies, it’s great news for Downtown Pittsburgh,” said Lucas Piatt, Chief Executive Officer of Piatt Companies. “Piatt Place was one of the early mixed-use redevelopments in Downtown’s revitalization and now 16 years later, it’s a staple in Downtown’s culture. We look forward to continuing to invest in the city of Pittsburgh and Downtown specifically.” 

Piatt Place’s tenants have become long-term anchors in the vitality of the district that contribute to Downtown’s livability. Since opening, it has been home to the Capital Grille, McCormick & Schmick’s, and Izazzu Salon, as well as the nearly 180,000 square-foot Commonwealth of Pennsylvania offices. They were joined by the Goddard School in 2015 and HealthQuest Chiropractic Associates in 2023. 

Piatt Place is located at 301 Fifth Avenue in Downtown Pittsburgh. 

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ABOUT PIATT COMPANIES

Piatt Companies is a family of companies that invests in bringing ideas to life and creating real estate experiences that contribute to the vibrancy, resilience, and future of Western Pennsylvania. For over 65 years, the family-run business has delivered high-quality places where people in the region can thrive. Learn more by visiting Piatt.com.

Hilton Garden Inn – Southpointe

Hospitality

Opened in 2001 as one of the first Hilton Garden Inn hotels in the region, the Pittsburgh-Southpointe location offers ease of access to the Pittsburgh International Airport and Downtown Pittsburgh. The 20,000 square foot flexible ballroom space is a popular venue for weddings, trade shows, and seminars. A full renovation was completed in 2019. 

River Vue

Residential

River Vue is a 16-story luxury residential tower prominently located along the Allegheny River in Downtown Pittsburgh, offering residents panoramic city skyline and waterfront views within walking distance of the Cultural District, Market Square, and the city’s major business and entertainment destinations. The property features 218 apartment units and reflects Piatt Companies’ longstanding commitment to high-quality urban residential development and adaptive reuse.
 
Originally constructed as the State Office Building, River Vue underwent a comprehensive renovation and conversion from office space into luxury residential apartments under Piatt Companies’ ownership and management oversight. The transformation preserved the building’s prominent downtown presence while repositioning the asset as a premier residential destination within Pittsburgh’s evolving urban core. Through strategic redevelopment, operational excellence, and a strong focus on resident experience, Piatt Companies helped establish River Vue as a distinguished example of successful downtown adaptive reuse and long-term asset stewardship.

MARKET SQUARE PLACE

Mixed-Use

Located in the heart of Downtown Pittsburgh’s historic Market Square, Market Square Place is a dynamic mixed-use property featuring luxury residential apartments, a 35,000-square-foot UFC Gym, and a diverse collection of street-level retail tenants that contribute to the energy and walkability of Downtown Pittsburgh. The retail mix includes restaurants and casual dining concepts, fine dining establishments, banking services, fitness and wellness offerings, and unique retail experiences featuring integrated podcast studio space. Through proactive property management, Piatt Companies helps preserve the long-term value and performance of the asset by overseeing daily operations, tenant relations, maintenance coordination, and the overall property experience. By maintaining high operational standards and supporting a vibrant urban environment, Piatt contributes to the property’s continued success as a premier downtown destination for residents, retailers, and visitors.

HIGHMARK STADIUM

Entertainment

Highmark Stadium, the home of the Pittsburgh Riverhounds soccer team, offers a gorgeous view of Downtown Pittsburgh from Station Square. Piatt operated as the owner’s representative throughout the construction of the 3,500 seat entertainment venue.

ST. CLAIR HOSPITAL OUTPATIENT CENTER

Medical

St . Clair Hospital’s 40,000 square foot outpatient facility in Peters Township opened in 2013. As the owner’s representative, Piatt managed design and construction, and helped cut costs through value engineering and pre-construction negotiation. The center offers a much-needed location for numerous medical services and offices.

LUCAS PIATT

Chief Executive Officer — Piatt Companies

Lucas B. Piatt is the Chief Executive Officer of Piatt Companies and Piatt Sotheby’s International Realty, where he blends visionary leadership with a deep-rooted commitment to the future of Western Pennsylvania. With more than 25 years of experience in real estate, development, and executive leadership, Lucas has led the transformation of Downtown Pittsburgh, investing over $500 million as part of a broader portfolio exceeding $1 billion in revitalization efforts across the region.

Lucas is the driving force behind The Esplanade, a transformative waterfront development that will redefine Pittsburgh’s North Side. Designed to be a world-class destination for innovation, entertainment, hospitality, and public space, The Esplanade reflects Lucas’s bold vision for shaping the future of Pittsburgh through large-scale placemaking rooted in community, inclusivity, and global ambition.

A respected collaborator, Lucas brings people together—developers, civic leaders, creatives, and community members—to reimagine the built environment and make it a catalyst for growth and connection. He is committed to delivering luxury experiences that serve a greater purpose, with an eye toward sustainable and inclusive development.

His leadership extends far beyond real estate. Lucas actively supports organizations such as the Pittsburgh Downtown Partnership, Washington County Chamber of Commerce, Point Park University, the Pittsburgh Film Office, the Alzheimer’s Association, and serves on the Board of Directors for St. Clair Health Foundation, helping to shape the future of regional healthcare and community access.

As founder of the Piatt Family Foundation’s Rock, Reggae and Relief Festival, Lucas has harnessed the power of live music to raise significant funds for impactful causes. Beneficiaries have included ovarian cancer initiatives, Café Momentum Pittsburgh, 412 Food Rescue, MCG Youth & Arts, and Catapult Greater Pittsburgh, among others—supporting efforts around food security, youth empowerment, education, and economic mobility.

Beyond his professional and philanthropic commitments, Lucas is a devoted family man who finds his greatest joy in spending meaningful time with his wife Renee and their children, River and Marlea. Whether attending concerts and music festivals, traveling, or sharing life’s great experiences, Lucas lives with intention and heart—always seeking to build something greater for the next generation.

TOWER 260

Office

Tower Two-Sixty, in Market Square, offers seven floors of Class A office space and an integral public parking garage offering 330 spaces. Also in the building are the Hilton Garden Inn Pittsburgh Downtown and four new local restaurants.

This LEED Certified Silver building is the first opportunity in almost 30 years for distinguished Pittsburgh businesses to take up residence in a brand new trophy building. Partnering with JLL as the anchor tenant and property manager, the building’s other tenants include Coury Financial, Merrill-Lynch, McGuireWoods, and Piatt Companies.