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Big non-residential buildings are hard to just convert to residential. They tend to stay as commercial. At least that's my observation in my 'hood. The Lucky s
by AlbertCory 4y ago
Big non-residential buildings are hard to just convert to residential. They tend to stay as commercial. At least that's my observation in my 'hood.
The Lucky supermarket is becoming a Whole Foods. The Orchard Supply Hardware was a Goodwill for a while, and now it's going to be a Costco. The Rite Aid became a dim sum palace. A Chinese restaurant became a Sprouts grocery store.
None of them became homes. Why not? I can only guess, not being in that business.
- robertlagrant 4y agoThey're zoned as commercial, no doubt.
- bell-cot 4y agoArticle is "Office Landlord...", your examples seem all to be "large retail". Though obviously a stand-alone grocery store or such would be easier to knock down and replace with residential, vs. a (say) 5+ story office. (And the article clearly focuses on much taller office towers.)
- AlbertCory 4y agoYou're right, but there aren't any tall office towers near me. The office buildings that I'm aware of have not been converted to anything. Do you know of some?
- nradov 4y agoMost commercial buildings just aren't suitable for residential use. The plumbing, electrical, and interior walls are all wrong for code compliance and to make separate units where people actually want to live. Exterior windows and doors might also be missing. So developers have to completely gut the structure and rebuild. In high cost areas, most of the cost comes from land acquisition, permitting, and various impact fees or mandates (like requirements for BMR units). The construction cost is a relatively small fraction. Might as well demolish the existing structure and rebuild from scratch.
- kevin_thibedeau 4y agoConverting dead malls to apartments is now a popular thing so there is a pathway for doing this.
- AlbertCory 4y agoI gave examples. Do you have some as well?
- jeffwask 4y agoMy MIL just moved into a 55+ living community in a converted Hilton.
- AlbertCory 4y agoA Hilton is already built for residents, albeit short-term ones. Do you have any idea what the "conversion" entailed there?