ADAPTIVE REUSE WHITEPAPER
Converting Offices to Multiresidential Family
Adaptive reuse of commercial office spaces to residential multifamily offers opportunities to ease some of the housing shortage in the US. These types of construction projects have many challenges, from zoning restrictions, financing, and also controlling construction costs.
- Supply and demand. It is one of the most basic economic principles. As supply goes down, demand increases, which means prices increase.
- The United States is looking for solutions to improve housing affordability in many areas and revitalize urban cores or downtown cities.
- One of the potential answers presented is adaptive reuse in converting offices to residentialmulti family occupancy. This idea has been amplified post pandemic as many professionals now work remotely (“work from home” or WFH), reducing the amount of office space needed. With transportation costs increasing, the desire to commute into the office has also declined, with many employees even being willing to switch jobs to retain the option to WFH.