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Story at a glance From city halls to the White House, officials across the U.S. are pushing to turn commercial real estate into housing in an effort to solve two national problems: the rising need ...
Washington, D.C., announced a $2.5 million, 20-year tax abatement program for owners who added at least 10 housing units, and California set aside $400 million in incentives for office-to-resi ...
Nearly 70 million square feet of office space, making up around 1.7% of the total U.S. supply, has been undergoing conversion projects to create residential-use spaces, or spaces for other uses.
Office/residential – multi-family residential units within office building(s) Shopping mall conversion – residential and/or office units added (adjacent) to an existing standalone shopping mall Retail district retrofit – retrofitting of a suburban retail area to a more village-like appearance and mix of uses
Office-to-residential conversions can be costly and take longer than new construction. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to ...
Office/Residential [2] [7] Previously known as RBC Plaza; was the U.S. headquarters of RBC Bank. Tallest building in North Carolina outside of Charlotte. Tallest building built in Raleigh in the 2000s. With 276,000 square feet (25,600 m 2) of leasable space it is the thirteenth largest office building in the triangle area. [8] 2 Two Hannover Square
Plans were made to add 10 more floors to the existing 22, and to replace the red-brown brick exterior of the structure, or repaint it a light beige. The plan included about 1,300 apartments for the redeveloped building, which would make it the largest office-to-residential conversion in the country. Preparatory work began in mid-2023. [26] [8]
Between 2016 and 2021, only about 30 office-to-residential projects came online each year, according to a July 2023 Deloitte study. And as of the time of the study, there were only 217 such ...