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[Given enough political motivation and building/zoning permits] Can't these be taken down and rebuild into residential? Given a long enough projected decline in
by empty_buildings 3y ago
[Given enough political motivation and building/zoning permits] Can't these be taken down and rebuild into residential? Given a long enough projected decline in needed office space there must be a ROI to rebuild at some point.
- marcinzm 3y agoTearing down a building in a downtown area is expensive and if demand for residential units also drops (ie: why would you want to live in an empty office building wasteland). So might be better to invest in buildings in further out areas that have not been built up as offices yet. Removing the daily need for commuting to work can change a lot of the dynamics around where people want to live even if they stay in the same metro areas.
- ghaff 3y agoEven if I wanted to live in San Francisco I sure wouldn't choose to live in the general downtown area if I weren't commuting to a job there every day.