5 ms·
> Can't be done. It can be done and has been done, but what the article fails to recognize is that it is spectacularly expensive—the original build-out, of cou
by mortenjorck 4y ago
> Can't be done.
It can be done and has been done, but what the article fails to recognize is that it is spectacularly expensive—the original build-out, of course, but also the maintenance (I’ve seen this firsthand in the stratospheric HOA fees in the one class-A office-to-residence conversion I toured in my condo search).
Office to residential will happen, but it will be at the top end of the market. It is fundamentally incompatible with affordable housing.
- Ancalagon 4y agoHow much were the HOA fees in that building? Just curious.
- mortenjorck 4y agoFor a ~$400k 1BR+den, about $1k/ month. This building also has $1-2m 3BRs where the HOAs start at $2k and go up north of $3k.
- Ancalagon 4y agowow that IS pure insanity
- deltarholamda 4y ago> It can be done and has been done, but what the article fails to recognize is that it is spectacularly expensive I mean, of course it can be done. We can also solve the homeless problem by moving them all to the Moon and building Moon bases. The point is that it is not practically possible for the reasons I stated as it is fantastically expensive. There are simply not enough rich people to buy into a converted office building. You will get a handful of them in name brand cities, but the ability to secure financing for these things will very quickly vanish.