For years, the corner of Wood Street and Fifth Avenue has been a big part of the Downtown retail corridor. But it soon could become lawyers' row.

Two law firms -- Cohen & Grigsby and Jones Day -- are considering moves to Piatt Place, the former Lazarus-Macy's department store being converted into office, retail and residential space.

One or both could be relocating near the Reed Smith law firm in the heart of the Downtown commercial district, bringing renewed life to a corridor that has fallen on hard times during the past decade.

Reed Smith will be taking nearly half of the 11 floors of office space to be available in Three PNC Plaza, the 23-story skyscraper under construction on Fifth Avenue, Downtown. It's expected to open next year.

At Piatt Place, located about half a block from the PNC site, there are plans for 180,000 square feet of office space as part of a $65 million redevelopment. The building also will feature 50,000 square feet of retail space and 65 condominiums.

Allan Tedesco, Cohen & Grigsby chief operating officer, said yesterday Piatt Place is one of a "large group of buildings" Downtown the law firm is considering for a possible relocation. It is seeking 70,000 to 80,000 square feet.

"We're looking at just about every major office building in the Golden Triangle," he said.

The firm, with 230 full-time equivalent employees, hopes to decide by the end of March whether to relocate or to stay in the old Westinghouse Building at 11 Stanwix St., where it occupies three floors. Its lease will expire Aug. 31, 2008.

Mr. Tedesco said Cohen & Grigsby wants to remain Downtown. He said the firm had looked at the North Shore, where another office building is being planned, but decided against it.

"We rely very heavily on mass transit for our employees. The Golden Triangle location is optimal," he said.

Millcraft Industries, the developer of Piatt Place, is represented by Cohen & Grigsby. Asked if that could give Millcraft an advantage, Mr. Tedesco replied, "It doesn't hurt."

The Jones Day law firm, with offices in One Mellon Center, also is looking for space Downtown.

Roy Powell, a partner in the firm, said Piatt Place is among the spots Jones Day is considering, along with a number of other "high-quality office possibilities." It has not ruled out staying at One Mellon Center, where its lease expires at the end of October 2008.

The firm is looking for about 70,000 square feet of space initially, with options for expansion. It employs about 110 people. Mr. Powell said the firm hopes to make a decision in two weeks to a month. It plans to stay in the Golden Triangle.

"We believe strongly in the Downtown Pittsburgh area," Mr. Powell said.

Lucas Piatt, vice president of real estate for Millcraft, said the interest bodes well for Piatt Place.

"We're pretty optimistic that we will get the building filled up quickly and give a shot in the arm to the Fifth and Forbes area," he said. "We're just moving forward and waiting for decisions at this point."

Millcraft recently landed the McCormick & Schmick Seafood restaurant for the ground floor. It will be adjacent to another restaurant, the Capital Grille, to open this summer. A European style market also could be in the mix, although it may end up being moved to the old G.C. Murphy's building also being redeveloped by Millcraft.