Converting office buildings to apartments is cheaper and greener than tearing down old office properties and building new residential buildings.
That may explain why several developers in some large cities have acquired office properties to convert to residential use. It’s a trend that could gain momentum in a post-pandemic environment where vacancies in office towers are on the rise and the prospects for leasing them are not good.
Office towers have advantages for residential conversions. Among them: adequate electricity and plumbing infrastructure, and comfortable ceiling heights for apartments.
Developers in cities including Dallas, Houston, New York, and Salt Lake City have announced office-to-apartment conversions. Most office properties can be converted for residential use, developers say.
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Arup, SOM top BD+C's ranking of the country's largest mixed-use design firms
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10% of world's skyscraper construction on hold
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Structure Tone, Turner among the nation's busiest reconstruction contractors, according to BD+C's Giants 300 report
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IFMA workplace study: Average space per employee up 40 sf since 2007, likely due to corporate layoffs
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| Aug 11, 2010
'Too cold' and 'too hot' most common complaints among office workers, says IFMA study
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Best AEC Firms of 2011/12
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Manitoba Hydro Place, Tornado Tower among world's 'best tall buildings,' according to the Council on Tall Buildings and Urban Habitat
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