The owner of Pittsburgh’s Gulf Tower (left) is seeking financing to convert the 1930s skyscraper into a residential tower.
Photo courtesy of Rugby Realty
Why a White House Plan to Fund Office-to-Housing Conversions Isn’t Working Yet
Citing lengthy delays and red tape, developers have been slow to tap a Biden administration program designed to finance office conversions near transit.
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Pittsburgh’s Gulf Tower is a 44-story Art Deco office building that once served as the headquarters of the Gulf Oil Company. Completed in 1932, the handsomely appointed skyscraper is a distinctive feature on the Steel City’s skyline; its stepped crown, modeled after the ancient Mausoleum of Halicarnassas, lights up with colors that can deliver a weather forecast to onlookers from miles around.