Converting offices to microapartments with shared kitchens and bathrooms could cost about 25% to 35% less than converting to traditional apartments, Pew and Gensler researchers said.
Researchers have proposed yet another way for cities to use the glut of office buildings left vacant amid the shift to remote and hybrid work: Turn them into dorm-style, co-living residences with private sleeping areas and communal kitchens, bathrooms, living rooms and laundry facilities for each floor.
“This is a real opportunity for downtown revitalization and to replenish the low-cost housing stock” relatively quickly, said Alex Horowitz, The Pew Charitable Trusts’ housing policy initiative project director, on a Monday webinar. The webinar highlighted the findings of a report released today by Pew and Gensler, a global architecture, design and planning firm, on the potential of converting offices to co-living spaces.
...more“This is a real opportunity for downtown revitalization and to replenish the low-cost housing stock” relatively quickly, said Alex Horowitz, The Pew Charitable Trusts’ housing policy initiative project director, on a Monday webinar. The webinar highlighted the findings of a report released today by Pew and Gensler, a global architecture, design and planning firm, on the potential of converting offices to co-living spaces.
RSK: Oooh....I see a whole host of problems with this. will take special tenants to get along with each other. Also, unless there are certain subsidies in taxes, loans and permitted uses an investor could be looking at low rates of return with higher risk. That said, it does have potential.
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- - Volume: 24 - WEEK: 44 Date: 10/29/2024 1:32:21 PM -