{"id":58641,"date":"2025-03-06T09:42:59","date_gmt":"2025-03-06T14:42:59","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=58641"},"modified":"2025-03-06T09:42:59","modified_gmt":"2025-03-06T14:42:59","slug":"a-logical-trend","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=58641","title":{"rendered":"A Logical Trend"},"content":{"rendered":"

On Tuesday, The Epoch Times<\/a> reported that a record number of office spaces in American cities are being renovated and turned into housing units. This is a great way to help with the housing shortage, but I am not sure what will happen if companies ask their employees to begin actually coming into the office to work.<\/p>\n

The article reports:<\/p>\n

While the U.S. housing market is still falling short by 4\u20135 million properties, the office-to-apartment conversion industry is making a little headway to help alleviate the problem. This year alone, a record-breaking 70,700 apartments are expected to be created from vacant office space nationwide.<\/strong><\/p>\n

A new report<\/a> from RentCafe indicates that office conversions now comprise almost 42 percent of some 169,000 apartments in adaptive reuse projects.<\/strong><\/div>\n

Not surprisingly, the New York metropolitan area leads the nation in office-to-apartment conversions in the pipeline for 2025, with 8,310 units planned. Washington, D.C., which held the top spot last year, has 6,533 conversions planned, and Los Angeles has 4,388 units. Chicago and Dallas round out the top five, with 3,606 and 2,725, respectively.<\/strong><\/p>\n

Since the pandemic, a significant share of the nation\u2019s office space remains empty, as workplaces shifted to remote options. According to Yardi Matrix, a real estate data-acquisition firm associated with RentCafe, the national office vacancy rate soared<\/a> to almost 20 percent by the end of December 2024.<\/strong><\/p>\n

The article notes:<\/p>\n

The RentCafe report indicates the bulk of today\u2019s commercial conversions (42 percent) are office buildings, followed by hotels (22 percent), factories (11 percent), and warehouses (6 percent).<\/strong><\/p>\n

The article concludes:<\/p>\n

\u201cA lot of younger people fresh out of college are leaving home for the first time and have a different mindset,\u201d he said. \u201cThey like a lot of modern amenities like smart homes, gyms, pools, community rooms, rooftop decks, and social engagement. Plus, they value proximity to transportation and convenience retail.\u201d<\/strong><\/p>\n

As for affordable rental options, the report indicates most of the planned conversion developments will be offering a percentage of affordable units for those who qualify financially. \u201cThere is also a large amount of supply coming, so developers have to be competitive to be able to retain renters,\u201d he said.<\/strong><\/p>\n

If you are younger and don’t plan on marrying or having children for a while, living in a former business building or hotel converted to private residences would be a great experience. There is no lawn to take care of, and the amenities could be very nice.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, The Epoch Times reported that a record number of office spaces in American cities are being renovated and turned into housing units. This is a great way to help with the housing shortage, but I am not sure … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[17781,17778,17782,17780,12407,17779],"class_list":["post-58641","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-apartment-buildings","tag-office-space","tag-office-to-apartment-conversions","tag-rentcafe","tag-the-epoch-times","tag-u-s-housing-market"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/58641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58641"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/58641\/revisions"}],"predecessor-version":[{"id":58642,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/58641\/revisions\/58642"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}