In the 1980s boom, Mellon Bank intended to build a whole clot of skyscrapers around One Mellon Center on Grant Street. This open lot was reserved for that expansion, but it never happened. Having given up on those grandiose plans, the current owners have turned it into a pleasant urban oasis with a fountain in the middle.
The Ross Street exit of the Steel Plaza subway station is right at the corner of Mellon Green.