A developer is mulling the feasibility of converting a former bank in downtown Pittsburgh into a boutique hotel. Chicago-based M&J Wilkow purchased the Federal Reserve Bank in July, and a representative from the company tells the Pittsburgh Post-Gazette that at least four international hotel operators have inquired about the 1931 building, made of white Georgia marble and trimmed in aluminum.
Existing amenities such as lower-level bank vaults, a three-story banking room, firing range, and rooftop deck could be converted into unique public spaces for a boutique hotel featuring 175 guestrooms. "Former bank buildings make great hotel conversions," M&J Wilkow’s Martin Sweeney said in an interview. "Most have really nice lobbies that convert to hotel lobbies."
Sweeney added that the hoteliers who have shown interest in the property may introduce a brand or concept that is new to Pittsburgh. The developer originally had considered repurposing the building as 140,000 square feet of office space, although that option is still on the table. M&J Wilkow will decide which route to take in 60 days, according to the Post-Gazette.