From Obsolete to Opulent: The Triangle Building's Stunning Transformation into Ivy Residences
Downtown Pittsburgh is no stranger to transformation. The latest project to emerge is the revitalization of the formerly underused Triangle Building, spearheaded by Hullett Properties. Known for their work on properties like 2554 Smallman and Pimlico Row in the Strip District, Hullett has breathed new life into this historic landmark situated at the intersection of Liberty Avenue and Smithfield Street, converting it into 15 modern residences.
The newly christened Ivy Residences are now available for lease at ivyresidencespgh.com. The project has generated significant buzz in the development community since construction began in August 2022.
The six-story building, known for its unique flat-iron shape and listed on the National Register of Historic Places, now offers state-of-the-art amenities including high-tech access and security systems, a building bike share and moped service, in-suite laundry, and contemporary living spaces. Rent starts at $2,000, with discounted rates available for households earning 80% of the Area Median Income (AMI) or less.
Originally built in 1885 as a tailor shop, the Triangle Building has since housed a hotel, restaurant, publishing house, and daycare center, showcasing its versatility. This adaptability has allowed Hullett Properties to offer flexible leasing options at Ivy Residences, including fully furnished units for short-term and long-term stays. The ground floor will feature an upscale eatery by a New York restaurant group and an integrated flower shop.
"In today’s world, where many people have hybrid work schedules and are more mobile, the traditional unfurnished 12-month lease doesn’t always fit their needs," Walsh explained. "We aim to accommodate that with the Triangle Building."
Nationwide, successful office-to-residential conversion projects like the Triangle Building are crucial for the vitality of post-pandemic downtown areas, which are experiencing a decline in commercial real estate values due to empty office spaces and the rise of hybrid work models.
Although the Triangle Building is one of the first post-pandemic office-to-residential conversions ready for occupancy in downtown Pittsburgh, Hullett Properties has been working on this project for five years, illustrating the challenges such endeavors face in the city. Walsh notes that Pennsylvania’s building codes create significant obstacles, adding unnecessary costs and delays.
"A lot of outdated building codes make these conversions more difficult than necessary," said Walsh, highlighting that other states and Canadian provinces have modernized their codes to facilitate such projects. As a member of the Downtown Neighbors Alliance board, Walsh has worked with a land-use attorney, architect, and other developers to propose updates to these codes.
"Everyone talks about affordable housing, but what are you actually doing to make housing more affordable?" Walsh asked, pointing to technological advancements in fire suppression and sprinkler systems as opportunities to modernize the building code. "There are solutions we’re not utilizing that don’t require federal or state funding."
For leasing information at Ivy Residences, contact leasing@ivyresidencespgh.com or call 412-316-7991.
