3 ms·
So then the options are: - Lower existing office rents until you get tenants. - Tear down and build housing. - Leave empty for decades.
by BurningFrog 4y ago
So then the options are:
- Lower existing office rents until you get tenants.
- Tear down and build housing.
- Leave empty for decades.
- ethagknight 4y agoPretty much, it's bleak. As a housing developer, part of the equation is to forget the existing high-rise altogether and buy something easier to demolish, like an old parking garage or lot. Why start $20mm-$50mm in the hole?