Turning empty downtown offices into homes

Turning office buildings into homes offers both an opportunity and a challenge for downtown business districts, writes Alicia Underlee Nelson in a Rent.com blog post. So, why don’t developers take more unused offices and turn them into homes?

And combining commercial and residential properties can help build more diverse, resilient neighborhoods.

The most recent Cushman & Wakefield MarketBeat report revealed that 17.2 percent of U.S. office buildings were empty during the second quarter of 2021. This is the highest vacancy rate since it peaked at 17.3 percent in the third quarter of 2010.

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