What Would It Take to Turn More Offices Into Housing?
Aerial shot of Downtown Gilbert, Arizona on a clear sunny day Authorization was obtained from the FAA for this operation in restricted airspace.
Downtown office space—about 998 million square feet nationwide—is sitting empty, and meanwhile, the U.S. needs about 3 million homes. But it’s not an easy cut-and-paste solution. Office space typically has been more pricey than residential. It’s not configured the same. And a conversion can be more expensive than building from the ground up. One study says only 3 percent of available office space could viably be converted. However, city and business leaders are trying to find the sweet spot, particularly because adding more housing in quiet downtowns could help bring back their busy city centers and tax bases.
