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Converting a commercial space into residential (assuming it’s zoned that way to begin with) isn’t trivial. We’re talking massive plumbing and HVAC system change
by SamoyedFurFluff 4y ago
Converting a commercial space into residential (assuming it’s zoned that way to begin with) isn’t trivial. We’re talking massive plumbing and HVAC system changes, for example. I do agree if empty commercial buildings can be gutted and renovated as residential it is one way to introduce more housing into the market; I don’t think it’ll be much faster or cheaper than building from scratch though.
- pclmulqdq 4y agoI agree, but the way those mortgages are handled, they incentivize buildings to have a lot of long-term (5- and 10-year) vacancies, which means that it doesn't have to be particularly fast to convert them.