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
Downtown Pittsburgh Set to Gain 1,300 New Housing Units
Pittsburgh’s office buildings, many of which date back to the early 20th century, are prime candidates for conversion to housing.
Over 71K Office-to-Apartment Units in the Pipeline for 2025
Adaptive reuse projects are continuing to bring thousands of new housing units onto the market as demand for office space remains low.
Minnesota Seeks State Support for Office Conversions
The 30% “CUB credit” would support the conversion of buildings 15 years or older into any use that “will return that vacant area to an income-producing, habitable condition.”
Trump Administration Could Effectively End Housing Voucher Program
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Congress Moves to End Reconnecting Communities and Related Grants
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