Unfortunately only like 10% of them are viable for conversion. Office buildings and residential buildings have very different needs and it’s expensive as fuck to add all the extra shit needed for residences.
But only around 10%-15% of office buildings nationwide can realistically be transformed to housing, according to economist Stijn Van Nieuwerburgh, a professor of real estate at New York’s Columbia Business School.
Buildings cost money. The whole point is that it isn’t economically viable to convert most buildings. My source is perfectly validly for the number I quoted. And if you need further convincing, watch the 60 minutes interview with the same guy. Not going to argue further with someone who clearly is arguing in bad faith.
No building will be renovated if it isn’t financially viable. I never said you can’t convert any building with infinite money. The 10-15% number is the actual relevant one for getting the conversions done in reality, not the fantasy world you seem to be living in.
Unfortunately only like 10% of them are viable for conversion. Office buildings and residential buildings have very different needs and it’s expensive as fuck to add all the extra shit needed for residences.
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I come with receipts: https://www.cbsnews.com/news/converting-vacant-office-buildings-into-apartments-60-minutes/
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I mean, you’re welcome to provide a source refuting mine from an engineer or an architect. I provided my source, where’s yours?
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Buildings cost money. The whole point is that it isn’t economically viable to convert most buildings. My source is perfectly validly for the number I quoted. And if you need further convincing, watch the 60 minutes interview with the same guy. Not going to argue further with someone who clearly is arguing in bad faith.
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No building will be renovated if it isn’t financially viable. I never said you can’t convert any building with infinite money. The 10-15% number is the actual relevant one for getting the conversions done in reality, not the fantasy world you seem to be living in.