General Petroleum Building (Pegasus Apartments)
The General Petroleum Building, which is now known as the Pegasus Apartments, was constructed in 1947 in the Modern architecture style. Walter Wurdeman & Welton Becket were the building's architects and P.J. Walker Co. was the general contractor. The offices were occupied from its opening, in February 1949, until it was eventually vacated in 1994. The building was vacated in 1994 and converted into 322 apartments in 2003 by developers Kennedy Wilson and the KOR Realty Group. Since then it has been used as an apartment block and it was added to the National Register of Historic Places in 2004 based on architectural criteria.
Backstory and Context
Before it had been completed, the building was sold off the New York Life Insurance Co. who would then lease it back to General Petroleum Corporation. The purchase price was reported by the LA Times as $11,750,000. The building was dedicated on April 1, 1949. At the time it was the largest office building in Southern California. A six-story parking garage made up a section of the building, with enough space for 466 cars.
Riachrdson, Eric. Sixty Years Ago Today: Petroleum Building Dedicated at 6th and Flower. Blog Downtown. April 01, 2009. Accessed July 16, 2017. http://blogdowntown.com/2009/04/4179-sixty-years-ago-today-petroleum-building.
Pegasus Apartments. LA Conservancy. Accessed July 16, 2017. https://www.laconservancy.org/locations/pegasus-apartments.