Despite the name, this is not on Penn street downtown, but Pennsylvania in the Med district in Near South.
The proposed structure is designed by Huitt-Zolars with Hasen Build and Development doing some work on it as well. It's proposed to be 5 or 6 floors of medical office, but I believe there may be some residences included. The rendering shows "PPG", but I'm pretty sure this is not related to the paint company.