With rapidly falling office property valuations that, according to one study, could lead to $800 billion in lost value by 2030, concern about what to do in the sector is understandable.
One of the potential strategies is to convert office buildings to housing. There have been questions about how effective this could be, given issues of building layout and the number of adjustments necessary to enable habitability.
A new National Bureau of Economic Research working paper (meaning not yet peer reviewed) from researchers at New York University and Columbia Business School, with support from the Brookings Institution, suggests "a set of criteria to identify commercial office properties that are physically suitable for conversion, yielding about 11% of all office buildings across the U.S." The conversion specifically was to "green apartments."
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