Frank Lloyd Wright’s only skyscraper, Price Tower, located in Bartlesville, Oklahoma, is set to go up for auction in October. The architectural landmark and one of only three buildings Wright completed in Oklahoma, has been at the centre of ongoing controversy, including issues related to the illicit sale of its specially designed furniture and the collapse of a cryptocurrency venture.
The auction will be held between October 7 and 9 via the online real estate platform Ten-X, with a starting bid of $600,000.
History and Ownership
Price Tower is a 19-story copper-and-concrete structure, designed by Wright in 1952 and completed in 1956 as the headquarters for the H.C. Price Company, a firm specialising in building oil pipelines. Inspired by nature, Wright envisioned the building as a “tree that escaped the crowded forest.” It originally included apartments, shops, and office space. The building was listed on the National Register of Historic Places in 1974 and was later declared a National Historic Landmark in 2007.
In March 2023, the building was purchased by local entrepreneurs Cynthia and Anthem Blanchard for $10, along with its estimated $600,000 in debt. The Blanchards, through their company Copper Tree, had ambitious plans to pay down the debt, invest $10 million into the building, and transform it into a tech hub. The project also received $88,000 in public tax incentives.
Mounting Controversies
However, less than a year later, the couple’s plans have largely unravelled. Their attempt to open two restaurants within the building failed. Furthermore, their blockchain anti-ransomware and gold-backed cryptocurrency ventures collapsed. In an effort to manage their financial troubles, the Blanchards began selling off parts of the building, including furniture that Wright had specifically designed for it. This move sparked outrage from the Frank Lloyd Wright Building Conservancy, which holds an easement on the building and has warned that it will seek legal recourse against any purchasers of these items.
The situation took a dramatic turn in April when local journalist Andy Dossett, who has been covering the Price Tower saga for over a year, encountered Cynthia Blanchard and her associates loading pieces of a gate designed by architect Bruce Goff, a friend of Wright, into a truck. When confronted, Blanchard reportedly responded angrily, defending the sale as a necessary measure to “save” the gate and claiming that the community should be grateful.
Financial Troubles and Auction
The financial situation surrounding Price Tower has continued to deteriorate, with its debt now quadrupling to $2 million since the Blanchards took over. Despite the escalating issues, the couple remains determined to proceed with the auction. Dossett estimates that the tower could sell for as much as $4 million, which would result in a $2 million profit for the Blanchards after accounting for the debt.
Interest in the property has already emerged, with the owners of the historic Mayo Hotel in Tulsa expressing a desire to purchase and restore the Price Tower. The Mayo Hotel, which was vacant for nearly 30 years before undergoing a major restoration, could serve as a model for the potential revival of Price Tower.
Preservation Concerns
The upcoming auction has reignited concerns about the preservation of this iconic piece of architectural history. The Frank Lloyd Wright Building Conservancy continues to monitor the situation closely, emphasising the importance of safeguarding the building’s integrity. As the auction date approaches, the future of Price Tower hangs in the balance, with the potential for new ownership to either restore or further endanger Wright’s historic skyscraper.