3 ms·
Good. Now all of that commercial real estate can be picked up on the cheap. With the multibillion dollar initiative from the government to convert single zoned
by xyst 3y ago
Good. Now all of that commercial real estate can be picked up on the cheap. With the multibillion dollar initiative from the government to convert single zoned commercial space into mixed use space, this is a perfect opportunity for developers.
[1] https://www.whitehouse.gov/cea/written-materials/2023/10/27/commercial-to-residential-conversion-addressing-office-vacancies/ https://www.whitehouse.gov/cea/written-materials/2023/10/27/...
- bequanna 3y agoThat's not what I'm hearing. I'm on some weekly calls with multifamily investors and there is a small group that has spent the past couple years looking into this and came to the conclusion that commercial -> residential multifamily almost never works. Even if the building was free, apparently the per unit conversion costs are higher than just constructing new multifamily.