Webster Hall
A historic Oakland landmark revitalized for modern living, learning, and work.
Webster Hall is a 197,00 square foot multifamily and mixed-use property located in the heart of Oakland, steps from the University of Pittsburgh, Carnegie Mellon University, UPMC, and the Craig Street business district. Originally built in 1924, the 12-story building includes 172 apartment units—studio, one-bedroom, two-bedroom, and three-bedroom layouts—alongside office and retail suites on the lower levels and a seven-story, 220-space parking garage. Elmhurst is repositioning the first floor to include an updated lobby, study areas, and a modern fitness center tailored to students, researchers, and professionals. Additional office space is available in the adjoining Bellefield Office Building, creating a cohesive, walkable, amenity-rich environment within Pittsburgh’s most dynamic academic and innovation district.
Impact in Numbers
At-a-glance metrics for this property, including total square feet, year completed, and Elmhurst’s ownership period.
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Year Completed
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Strengthening Oakland’s Academic and Innovation Ecosystem Through Thoughtful Reinvestment
Webster Hall sits at the geographic and cultural center of Oakland—Pittsburgh’s hub for higher education, healthcare, and research. By reinvesting in this historic building, Elmhurst supports a community defined by university life, medical innovation, and a high concentration of students and early-career professionals. The property’s improvements, including enhanced study spaces, modernized amenities, and refreshed common areas, are designed to complement the rhythms of academic life while preserving the architectural character that anchors the neighborhood’s identity.
The building also contributes to the local business community by supporting retail and office users on its lower levels and by serving as a residential base within walking distance of Pitt, CMU, and UPMC. Its central location reinforces Oakland’s appeal as a live-learn-work district and strengthens the connective tissue between housing, research, and commerce—key drivers of Pittsburgh’s long-term economic vitality.
A High-Conviction Re-Entry into Multifamily in an Irreplaceable Urban Location
Webster Hall marks Elmhurst’s return to the multifamily sector through a highly strategic, value-add acquisition. Demand for well-located housing in Oakland has remained structurally strong due to persistent university enrollment, sustained hiring within UPMC, and limited opportunities for large-scale new construction in the neighborhood. The building’s historic character, infill site, and adjacency to world-class institutions create an investment profile defined by long-term stability, constrained supply, and diverse tenant demand.
Elmhurst’s repositioning strategy focuses on targeted capital improvements—modernizing amenities, enhancing resident experience, and upgrading common areas—while maintaining the integrity of the 1924 structure. These enhancements increase competitiveness within the student- and professional-housing market, improve operational efficiency, and unlock value in the building’s underutilized retail and office components. The result is a diversified, income-producing asset with strong upside potential in one of Pittsburgh’s most enduring and supply-restricted submarkets.
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