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FORMER PORTER BUILDING GETS A NEW TENANT AND A NEW NAME

 PITTSBURGH, July 12 /PRNewswire/ -- After considerable speculation on where the Federal Home Loan Bank of Pittsburgh would land its headquarters operations in Pittsburgh, President James D. Roy confirmed today that it has signed a lease with SMWNPF Holdings, Inc., represented by Gold & Company Inc., to become the anchor tenant in 601 Grant Street, formerly known as the Porter Building.
 The old Porter Building identity won't last for long. Roy said, "We will be putting the Federal Home Loan Bank's identity on 601 Grant Street. We are committed to the city and wanted to be an integral part of the downtown community." While a precise name for the building is still to be worked out, the building will be renamed for the bank, which will occupy 98,000 square feet or the top 10 floors of the 18-story building.
 "We are delighted with our selection of this building. It is a unique opportunity to move into the equivalent of a brand new facility without having to build it ourselves," said Roy. "We will be able to customize the space to fit our operations precisely and provide our employees with an attractive, functional and comfortable work environment." The former Porter Building was vacated in 1991 and completely renovated and redesigned. This building offers state-of-the-art electrical and heating and cooling systems and a new lobby. The design work was headed by Sylvester Damianos, FAIA, of Damianos Brown Andrews, Inc.
 The bank has been represented by real estate agent The Galbreath Company. Galbreath's executive vice president Gerry Dudley said, "The bank was presented with many options for its Pittsburgh offices and made its final decision after considering more than 15 different locations in the downtown vicinity. This building and location are superb for the bank." Moving from the One Riverfront Center at First and Stanwix streets, where it has been for the past eight years, puts the $11 billion wholesale bank in the heart of the business district, and provides excellent accessibility for customers, employees and vendors.
 The Federal Home Loan Bank plans to move into its new headquarters in late spring or summer of 1994. Gold & Company President Sanford B. Gold said, "We are extremely proud of 601 Grant Street building and are enthusiastic to be working with the Federal Home Loan Bank in creating an identity and home for its headquarters operations." Burt Hill Kosar Rittelman Associates, an architectural design firm, also will be working with the bank on interior space design and signage.
 The Federal Home Loan Bank of Pittsburgh is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The bank's economical funding, operating and advisory services are available to commercial banks, savings institutions, insurance companies and credit unions. The Pittsburgh bank has financial institution customers in Delaware, Pennsylvania and West Virginia. The bank also maintains offices in Philadelphia and Charleston, W.Va.
 -0- 7/12/93
 /CONTACT: Rosemary A. Abendroth of Federal Home Loan Bank of Pittsburgh, 412-288-2830; or Sanford B. Gold of Gold & Company, 412-471-4455/


CO: Federal Home Loan Bank of Pittsburgh; SMWNPF Holdings, Inc.;
 Gold & Company Inc. ST: Pennsylvania IN: FIN SU:


KC-CD -- PG003 -- 0499 07/12/93 14:30 EDT
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Publication:PR Newswire
Date:Jul 12, 1993
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