The Reagan White House moved to lower tax rates for developers in the 1980s and then years of low interest rates glutted downtowns with office buildings. Time's up.
Unfortunately, in most cities that is illegal. Zoning laws prevent turning commercial property into residential even when it is possible. It also prevents developers from building moderate, high, and even certain types of low density housing.
Be careful what you wish for. Houston is notorious for abolishing its zoning laws, which means that residential and commercial properties are haphazardly scattered rather than concentrated into distinct areas.
People never know when a CVS will pop up next door to their home. Now you know why they form HOAs.
For the millionth time it’s not that simple. Retrofitting commercial buildings is often impossible or more expensive than just demolishing and building new which is also ungodly expensive especially with how high interest rates are right now. Unless cities step in with millions of dollars per project it’s usually not financially possible.
I live on the North end of the SF Bay Area and literally every empty lot and a shit load of pasture land and open space is currently being developed into either low income apartments, high end apartments, town houses or track homes. It’s honestly kind of shocking. Everywhere you go, new residential development.
Sonoma County supervisors were supposed to vote on a housing development plan in January, but failed to do so until August, and in the meantime there was a special rule that allowed builders to go ahead without most of the red tape they usually face. They took the opportunity and ran with it.
Actually it’s not bullshit. Most office buildings are designed with large core space where the elevators and stairs etc go. That’s not at all how apartment buildings are designed. Changing that is extremely expensive.
Say you have an average size house, with a 2-car garage on the side. You decide to change that garage into a small apartment for renting. You need to add a wall or two, add insulation, build up a kitchen area (with proper water and power) and a bathroom.
Imagine how much that would cost you for that single apartment. Now multiply that by, say, 50, to convert a large office building into 50 residential rental units. Even with economies of scale, that’s still going to cost millions…
Dude… you’re arguing that it’s better to tear down, and build from scratch then it is to retro fit. This is obvious bullshit. In your example it would be more practical to retro fit the garage then to tear it down, and build a new building. Like fuck man.
if only there was a solution that wouldnt immediately destroy billions of dollars in commercial real estate.
you have to remember that office space cant be easily converted into residential space. most standard office floors dont have more than two or maybe 3 restrooms. cant imagine that many people would be willing to share a public bathroom with their neighbors. you also cant just add a bunch of walls to the interior of office buildings (for individual apartments), the existing architecture wont take the strain. apartment buildings that collapse = lawsuits.
you could try to retrofit existing commercial office space into residential space but you will fail.
Buildings not even built strong enough for multipurpose use. Ahh the “efficiency” of capitalism…
Also, no one said it has to be rennovated to be exactly like normal apartments. Some mixedly shared living spaces exist in some entire cultures for crying out loud.
entire cultures that arent American. if you read the article, you’d note that it’s referring to US cities. non-american cultures arent even part of the conversation.
yeah, they probably had really poorly designed cities early on as well. America is the most powerful country in the world but it’s also a very young nation.
most non-US culture’s cities were repeatedly burned down, pillaged, suffered natural catastrophes like volcanos, tidal waves, earthquakes, and/or had their populations systematically zeroed out by waves of plague/disease/war. they’ve had hundreds, if not thousands of years to figure out a good city plan without modern construction material science.
America is supposed to be a melting pot of different cultures, I think we can make it work and I’m sure those who are unhoused would much rather be able to live in a communal space with a roof and shower than nothing. Fuck corporate real estate profits and let the people live ffs
a certain percentage of the unhoused are in that position because they’re unwilling to follow the societal rules that the rest of us do. the human detritus festering on the streets of the Kensington neighborhood of Philadelphia is a most excellent example of what not to do.
This might come as a shock to you but, human dignity doesn’t give a fuck about commercial real state value. Because commercial real estate owners don’t give a fuck about human dignity. So reciprocating the same level of care is fine for most.
You’re a bad person. I’m glad that you recognize that. It puts my moral judgment at ease to know that you’re perfectly aware that you are a bad person.
We have a dramatic shortage of residential property. We have a dramatic oversupply of commercial property. IF ONLY THERE WAS A SOLUTION
Middle managers: I agree. From now on you’ll be required to be in office 4 days a week instead of 2!
Speaking of which:
You can ‘smell history’ in Tampa cigar factory becoming student housing
They’ll never get the smell out either. Not completely. I feel sorry for the students.
Unfortunately, in most cities that is illegal. Zoning laws prevent turning commercial property into residential even when it is possible. It also prevents developers from building moderate, high, and even certain types of low density housing.
In most US cities. Hmm, I wonder if we can spot a solution…
Oops, thanks
Be careful what you wish for. Houston is notorious for abolishing its zoning laws, which means that residential and commercial properties are haphazardly scattered rather than concentrated into distinct areas.
People never know when a CVS will pop up next door to their home. Now you know why they form HOAs.
For the millionth time it’s not that simple. Retrofitting commercial buildings is often impossible or more expensive than just demolishing and building new which is also ungodly expensive especially with how high interest rates are right now. Unless cities step in with millions of dollars per project it’s usually not financially possible.
I live on the North end of the SF Bay Area and literally every empty lot and a shit load of pasture land and open space is currently being developed into either low income apartments, high end apartments, town houses or track homes. It’s honestly kind of shocking. Everywhere you go, new residential development.
Sonoma County supervisors were supposed to vote on a housing development plan in January, but failed to do so until August, and in the meantime there was a special rule that allowed builders to go ahead without most of the red tape they usually face. They took the opportunity and ran with it.
That sounds like a “them” problem.
They can watch their investments dry up and lose billions, or pivot to the new market. Not our fault they’re stuck in the 80s.
This is such bullshit. It doesn’t cost millions of dollars to add new plumbing, HVAC, and interior walls.
Actually it’s not bullshit. Most office buildings are designed with large core space where the elevators and stairs etc go. That’s not at all how apartment buildings are designed. Changing that is extremely expensive.
Say you have an average size house, with a 2-car garage on the side. You decide to change that garage into a small apartment for renting. You need to add a wall or two, add insulation, build up a kitchen area (with proper water and power) and a bathroom.
Imagine how much that would cost you for that single apartment. Now multiply that by, say, 50, to convert a large office building into 50 residential rental units. Even with economies of scale, that’s still going to cost millions…
Dude… you’re arguing that it’s better to tear down, and build from scratch then it is to retro fit. This is obvious bullshit. In your example it would be more practical to retro fit the garage then to tear it down, and build a new building. Like fuck man.
https://www.nbcnews.com/business/real-estate/why-empty-offices-aren-t-being-turned-housing-despite-lengthy-n1274810
“ In parts of the country where land is relatively cheap, it’s far less expensive to build housing from scratch than to convert old offices.”
if only there was a solution that wouldnt immediately destroy billions of dollars in commercial real estate.
you have to remember that office space cant be easily converted into residential space. most standard office floors dont have more than two or maybe 3 restrooms. cant imagine that many people would be willing to share a public bathroom with their neighbors. you also cant just add a bunch of walls to the interior of office buildings (for individual apartments), the existing architecture wont take the strain. apartment buildings that collapse = lawsuits.
you could try to retrofit existing commercial office space into residential space but you will fail.
Buildings not even built strong enough for multipurpose use. Ahh the “efficiency” of capitalism…
Also, no one said it has to be rennovated to be exactly like normal apartments. Some mixedly shared living spaces exist in some entire cultures for crying out loud.
entire cultures that arent American. if you read the article, you’d note that it’s referring to US cities. non-american cultures arent even part of the conversation.
Because most non-US cultures didn’t decide to build their cities in the stupidest way possible.
yeah, they probably had really poorly designed cities early on as well. America is the most powerful country in the world but it’s also a very young nation.
most non-US culture’s cities were repeatedly burned down, pillaged, suffered natural catastrophes like volcanos, tidal waves, earthquakes, and/or had their populations systematically zeroed out by waves of plague/disease/war. they’ve had hundreds, if not thousands of years to figure out a good city plan without modern construction material science.
Brazil is as young as the US and, despite interference from the former, still managed just fine to build walkable cities. Japan too.
America is supposed to be a melting pot of different cultures, I think we can make it work and I’m sure those who are unhoused would much rather be able to live in a communal space with a roof and shower than nothing. Fuck corporate real estate profits and let the people live ffs
a certain percentage of the unhoused are in that position because they’re unwilling to follow the societal rules that the rest of us do. the human detritus festering on the streets of the Kensington neighborhood of Philadelphia is a most excellent example of what not to do.
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I’ll take an entire floor for the cost of one bachelor unit.
If you think that’s not fair to the building owner, I agree, they made a bad investment.
That’s what I’m saying, convert them to ridiculously high end massive floor plan condos, we don’t need whole buildings of studios and 1br
This might come as a shock to you but, human dignity doesn’t give a fuck about commercial real state value. Because commercial real estate owners don’t give a fuck about human dignity. So reciprocating the same level of care is fine for most.
love it or hate it, we exist in a capitalistic society. willfully ignoring that just borderline stupidity. “human dignity”? no one cares.
You’re a bad person. I’m glad that you recognize that. It puts my moral judgment at ease to know that you’re perfectly aware that you are a bad person.
Please. Will somebody think of the poor poor investors?
i suppose if you’re just arguing on the internet just to pass the time, then probably no one will.
You may be correct but we need to think of solutions. Not just rely on conventional wisdom thats says it’s not possible by current standards
Oh no! Too bad they don’t sell common plumbing supplies at the Home Goddamned Depot.