Converting unused office buildings into apartments or condos could ease the housing supply. But after a high-profile engineering failure, will people want to move in?
In New York, more than 12,000 new apartments are being created from office buildings that have struggled to recover since the pandemic.
Amid widespread office vacancies, developers say creating apartments could provide housing and help stave off declining values.
But adaptive reuse isn’t as simple as swapping out cubicles for beds. Developers often need to charge a lot to make conversions worthwhile.
