CRE MarketBeat’s Post

"Denver Office to Housing Conversion: Planning by a Dynamic Duo" Read the full article below..

Developers are converting vacant offices into apartments due to shortage of housing. However, not all buildings can be repurposed, despite 1 billion sq ft of empty office space in the US. Best candidates? Pre-war building conversions. #realestate #housing #apartments #commercialrealestate

In this survey of California developers UCLA and law firm Allen Matkins found 21% are eyeing office conversion projects in 2024. This is a topic I know well; I'll be in LA to present 'Bad Office Buildnigs Make Good Housing' at a confernce in May. It will be a how-to guide to converting 20th Century offices into 21st Century housing. https://lnkd.in/g4DW7ktp

It’s a complex challenge to convert empty offices into housing. Bureaucracy, restrictive zoning, location suitability, building design differences, and occupancy issues pose significant hurdles. While some cities are exploring residential retrofitting, the process is often slow and costly due to various factors, making it a complex solution to both the office vacancy and housing shortage issues. #OfficeConversionChallenge #HousingRevitalization #UrbanRenewal #ZoningDilemma #AdaptiveReuse #CityPlanning #RealEstateStruggles #BuildingTransformation #HousingCrisis #OfficeSpaceRevamp

Converting offices into homes could be a game-changer for Atlanta, but it's not a one-size-fits-all solution. A recent study sheds light on the potential benefits and public costs of repurposing downtown office buildings into much-needed housing. Learn more here https://lnkd.in/e4yvyHNp #AtlantaDevelopment #HousingCrisis #UrbanRenewal

#wfh means more empty office buildings. New York City has come up with a bold plan to use them to ease the housing inventory crisis. #housingmarketupdates #realestate #officebuildings #housinginventory https://lnkd.in/exwNcFC3

This week, I contributed a piece to The Hill Times on the federal government’s push to offload, and eventually convert, it’s vacant office space in Ottawa. For those who don’t subscribe, the general takeaway is that the federal government cannot afford to simply dispose of these properties before providing office building owners with the analysis to determine if their building can actually be converted into residential housing. By doing so, and by beginning the process with its leased properties first, the government can make a sizeable dent in Canada’s affordable housing crisis—to the tune of 50,000 homes, or 100 large condo towers. Without this support, the feds risk leaving property owners holding the bag, or worse, ushering the downfall of Ottawa's office market.

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Developers in New York want to turn more unused offices into housing, so what's stopping them? Read more about it here!

@amprog report: adaptive reuse of office buildings for residential conversions, with government support, can help cities address housing goals