The Episcopal Diocese of Pittsburgh is pleased to announce a new partnership between the Trinity Cathedral Chapter and Colliers International, a leading commercial real estate brokerage and advisory services firm, to offer downtown property adjacent to the cathedral for lease or development.
The property, known as Trinity House, is located at 325 Oliver Avenue and currently houses offices for cathedral and diocesan staff, meeting space, and social services spread over approximately 20,000 square feet on four levels.
An advisory group formed by Bishop Dorsey McConnell, along with the diocesan Board of Trustees and the Cathedral Chapter, which is Trinity’s governing body, jointly determined the property is under-utilized and would be a greater asset to the cathedral if marketed for other uses, particularly in light of an extraordinary demand for downtown real estate.
Colliers International plans to offer the property in two ways simultaneously: as a mid- to long-term triple-net lease, or as a site to be redeveloped for commercial use by businesses seeking a unique urban property. Still to be investigated is whether air rights could be utilized for expansion of the existing space.
The diocese intends on retaining the Cathedral and its worshiping congregation, advancing its work, and maintaining operations through the use of the existing Cathedral building.
“It is our resolve that the Cathedral itself and its mission would not only be preserved, but prosper through this plan,” said Bishop McConnell.
In recent years, Trinity Cathedral has reversed a decline in attendance and finances and has moved forward in its vision of being “a cathedral for the city and the diocese, proclaiming the Gospel of Jesus Christ through the arts, education, and social empowerment.” The Cathedral Chapter and the newly appointed provost, the Reverend Aidan Smith, are further poised to respond to the growing residential population downtown and in the Strip District.
In the coming weeks, Colliers International will issue Requests for Proposals for the Trinity House site. The Colliers Pittsburgh team is headed by downtown real estate veterans Gregg Broujos and Michelle Keane Domeisen.
“After exploring other prospective partners, Colliers International emerged as the clear leader, both in their grasp of the importance of Trinity’s position in the city and the diocese, in their enthusiasm for its stated vision, and in their excellent reputation as brokers,” said Bishop McConnell.
About Colliers International: www2.colliers.com/en
About the Episcopal Diocese of Pittsburgh: www.episcopalpgh.org