By Kirk Petersen
The Diocese of Pittsburgh has asked a commercial realty firm to explore the possibilities for monetizing a building next to historic Trinity Cathedral, which is nestled in a skyscraper-encrusted neighborhood on some of the most valuable real estate in Pittsburgh.
The 1872 cathedral itself is not on the block, but the diocese is exploring options for the adjacent, four-story Trinity House, which was built in 1906. The diocese is leaning toward leasing out the 20,000-square-foot building, but a partnership is not out of the question.
Colliers International, a real estate firm with offices throughout the country, will spend the next year or so exploring options, said Michelle Keane Domeisen, a Colliers vice president.
She was not able to provide any estimate of what kind of revenue the building could mean for the diocese, but said the real estate market in the central business district “is on fire” and the building is beautiful, with leaded stained-glass windows and classic stone construction.
“Whatever final decision is made about the Trinity House, it will be completely copacetic with the life of the cathedral,” she said.
The property is in the center of Pittsburgh’s “Golden Triangle,” bounded by Interstate 579 and the Allegheny and Monongahela rivers.
Diocesan spokesman Rich Creehan told TLC that the diocese is pursuing this from a position of financial strength. The diocese has run balanced budgets of up to $1.3 million for the past few years, and Trinity Cathedral has rebounded in terms of attendance and plate donations.