This is a double-sided top-mount marker of the type that were placed at state-affiliated colleges and other state institutions.
This particular one is an aluminum replacement, made by Lakeshore Industries of Erie PA, for the original cast iron marker that was once here. (See page for Thiel College to view an original.) It is mounted on the cast iron post that once held the original cast iron marker. The iron post is the type usually found with double-sided “Stream Name” markers.
A second identical markers stands at King St. and S. Fayette St. This second one is on a round aluminum post.