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The line is defined by profitability. And it's simply not profitable to do most of these conversions, as the conversions are extensive and costly and still don
by CydeWeys 3y ago
The line is defined by profitability. And it's simply not profitable to do most of these conversions, as the conversions are extensive and costly and still don't yield units that are as good as purpose-built residential apartments. I'm not sure what part of that is confusing.
- underlipton 3y ago>The line is defined by profitability. In what scope? Something that might not be profitable for a single company could be value-generating at a national level. > as the conversions are extensive and costly and still don't yield units that are as good as purpose-built residential apartments I understand that you've decided this. I'm saying that it's not a given, and asking you to free your mind a bit. How could the conversions be less costly? What compromises in design would people actually be willing to live with? What external conditions might lead to conversions making sense (including ones where potential profit is not the primary purpose of the build). I GET that the people investing in real estate right now don't want to build anything but what they want to build. We're not obligated to confine our imagination to their ideal balance sheet.