Working from home could wipe $800 billion from office values globally
cnn.com
McKinsey said cities could adapt to the declining demand for office space by “taking a hybrid approach themselves,” developing multi-use office and retail space and constructing buildings that can be easily adapted to serve different purposes.
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I would imagine there are a lot of challenges around converting high rise commercial buildings into housing. Many buildings only have a handful of toilets per floor, maybe a few sinks, and no showers. I'm also sure there are no gas lines in many of them (electric heating and cooking might suffice). But for sure, water delivery will be one of the biggest challenges.
Then there are even lame laws regarding parking requirements for a building with so many residents.
I imagine these would end up more like condos that tenements. Maybe 3-5 large units per floor. I dont think the plumbing retrofit would be a huge deal...nor the parking since an office that large would likely have had parking already. Mixes use zoning could lead to some pretty cool buildings potentially. Imagine living in a condo that had a grocery store and maybe some bars or restaurants on the lower floors.
That'd be pretty cool.
Live on the 10th. Coffee shop on the 5th and groceries on the 12th. A bar on the 15th and a 24h gym (open to anyone gym) on the 3rd.
I wonder how many floors you'd need to convert to residential to support the remaining commercial.
If they can split old churches into apartments, I'm pretty sure they can do the same to abandoned office buildings.
It would easily suffice. All these buildings have heating already so that's no issue, and electric cooking is safer anyways