Converting office buildings to apartments is cheaper and greener than tearing down old office properties and building new residential buildings.
That may explain why several developers in some large cities have acquired office properties to convert to residential use. It’s a trend that could gain momentum in a post-pandemic environment where vacancies in office towers are on the rise and the prospects for leasing them are not good.
Office towers have advantages for residential conversions. Among them: adequate electricity and plumbing infrastructure, and comfortable ceiling heights for apartments.
Developers in cities including Dallas, Houston, New York, and Salt Lake City have announced office-to-apartment conversions. Most office properties can be converted for residential use, developers say.
Related Stories
| May 10, 2011
Google hires Ingenhoven Architects to design new Mountain View office
The current Googleplex is straining at the seams and yet the company is preparing its biggest hiring surge ever, so Google decided now’s the time to build its own office space—a first for the Internet giant. The company hired Ingenhoven Architects, a German firm that specializes in sustainable architecture, to create plans for what could be a 600,000-sf office.
| Apr 13, 2011
Office interaction was the critical element to Boston buildout
Margulies Perruzzi Architects, Boston, designed the new 11,460-sf offices for consultant Interaction Associates and its nonprofit sister organization, The Interaction Institute for Social Change, inside an old warehouse near Boston’s Seaport Center.
| Apr 13, 2011
Red Bull Canada HQ a mix of fluid spaces and high-energy design
The Toronto architecture firm Johnson Chou likes to put a twist on its pared-down interiors, and its work on the headquarters for Red Bull Canada is no exception. The energy drink maker occupies 12,300 sf on the top two floors of a three-story industrial building in Toronto, and the design strategy for its space called for leaving the base building virtually untouched while attention was turned to the interior architecture.
| Apr 13, 2011
Former department store gets new lease on life as MaineHealth HQ
The long-vacant Sears Roebuck building in Portland, Maine, was redeveloped into the corporate headquarters for MaineHealth. Consigli Construction and local firm Harriman Architects + Engineers handled the 14-month fast-track project, transforming the 89,000-sf, four-story facility for just $100/sf.
| Mar 29, 2011
Chicago’s Willis Tower to become a vertical solar farm
Chicago’s iconic Willis Tower (formerly the Sears Tower) is set to become a massive solar electric plant with the installation of a pilot solar electric glass project.
| Mar 29, 2011
Read up on Amazon.com's new green HQ
Phase IV of Amazon’s new headquarters in Seattle is nearly complete. The company has built 10 of the 11 buildings planned for its new campus in the South Lake Union neighborhood, and is on-track for a 2013 grand opening.
| Mar 11, 2011
Blockbuster remodel transforms Omaha video store into a bank
A former Hollywood Video store in Omaha, Neb., was renovated and repurposed as the SAC Federal Credit Union, Ames Branch. Architects at Leo A Daly transformed the outdated 5,000-sf retail space into a modern facility by wrapping the exterior in poplar siding and adding a new glass storefront that floods the interior with natural light.
| Mar 11, 2011
Chicago office building will serve tenants and historic church
The Alter Group is partnering with White Oak Realty Partners to develop a 490,000-sf high-performance office building in Chicago’s West Loop. The tower will be located on land owned by Old St. Patrick’s Church (a neighborhood landmark that survived the Chicago Fire of 1871) that’s currently being used as a parking lot.
| Mar 9, 2011
Hoping to win over a community, Facebook scraps its fortress architecture
Facebook is moving from its tony Palo Alto, Calif., locale to blue-collar Belle Haven, and the social network want to woo residents with community-oriented design.
| Feb 14, 2011
More companies willing to pay extra for green office space
New CoreNet Global/Jones Lang LaSalle survey shows real estate executives forging green strategies that balance environmental, financial and workforce issues.