The city is seeing rapid growth in residential development in its downtown core, signaling a shift to accommodate a reduced need for office space and a renewed interest in mixed-use, transit-oriented neighborhoods.
An article in the Pittsburgh Post-Gazette assesses the recent movement to convert downtown Pittsburgh’s increasingly vacant office buildings to housing. According to the article, more than 3,300 units have already been created via adaptive reuse, with 1,500 more in the planning stages.
While no one sees residential supplanting office Downtown as the dominant driver, experts say there is a need for a better mix, particularly in light of changing work habits caused by the pandemic.
The article lists several important buildings slated to be converted to apartments, condos, and hotel rooms, such as the Gulf Tower and the former GNC headquarters. The population is growing fast, with the occupancy rate at 93 percent. “Colliers reported that the average rent for a studio apartment is $1,384; for a one-bedroom, $1,522; for a two-bedroom, $2,188; and for a three-bedroom, a whopping $4,879.”
FULL STORY: From skyscrapers to studios: How the residential boom is transforming Downtown Pittsburgh
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