What it would take to turn all those empty office buildings into homes
Conceptual design of 1633 Broadway in Manhattan that would allow fresh air and light to the interior of the office building for residences / SGA

What it would take to turn all those empty office buildings into homes

CNN’s PM Plug-In is a weekday newsletter to catch you up on important news you may have missed during your busy day. Make sure to subscribe to stay in the know.

It sounds like dream solution to America’s housing crisis, but experts say converting "zombie towers" in increasingly deserted downtowns into homes could be a logistics nightmare. Still, cities like New York, Boston and Cleveland are embracing the idea of residential retrofitting and providing incentives to do so. The Biden administration is easing the way with federal programs and tax breaks. Local leaders are accelerating changes to zoning and construction restrictions.

Here's the urgent reason behind the push: More office space is sitting empty in the US than at any point since 1979, Moody's Analytics recently reported. It's all a hangover from the Covid-19 pandemic, when employees started working remotely and never came back in full force. Meanwhile, the US has lagged behind by about 5.5 million housing units over the past 20 years, according to the National Association of Realtors, as builders failed to keep up with housing needs.

Sometimes former office locations can be good places to live, especially in high-density cities and areas with soaring demand for residential housing like Manhattan. In other cities, though, there may be no nearby stores, schools, or public transit. Office space and homes are also two fundamentally different types of buildings, according to builders and architects. Problems include a lack of natural light, the need for individual controls for heating, and ceiling heights that make electrical and HVAC retrofits impossible.

There's no formula for turning an office into a home, according to a senior fellow at the Urban Institute. "Every project has to reinvent the wheel," he says, calling it "much harder than building from scratch."

??? Read the full story from CNN's Anna Bahney for two other reasons why it's so hard to convert office space to livable and likeable housing.


Stories people are clicking on today

Interest rates: Today the Federal Reserve left its benchmark interest rate alone for the fourth straight time, a decision Wall Street widely expected. One thing investors were looking for is a hint as to when the central bank may bring rates down, something it hasn't done in nearly four years. Follow live coverage

Grilled billionaire: US senators spent the day accusing the CEOs of Meta, TikTok, Snap, Discord and X (formerly Twitter) of not doing enough to protect young users on their lucrative platforms. Mark Zuckerberg stood and apologized during the hearing, but a youth advocate who was there says it'd be better if Meta got out of the way of new social media regulations. Takeaways from the hearing

Gruesome timeliness: Today's tech CEO hearing was made especially relevant after a Pennsylvania man posted a YouTube video of himself holding what he claimed was his father’s decapitated head. Authorities arrested him, but the video was viewed thousands of times before the Google-owned platform took it down. Full story


?? Stay plugged in

We're excited to bring you this PM newsletter Mondays through Thursdays right here on LinkedIn. Don't miss the next edition. Subscribe now — and share with colleagues, friends and family.

What did you think of today’s newsletter? Drop a comment below or send thoughts and feedback to [email protected].

Absolutely, transforming empty #officespaces into homes can be a brilliant reuse of space! As Henry David Thoreau once said, “What is the use of a house if you haven't got a tolerable planet to put it on?” Speaking of making the planet more tolerable, we're excited about a chance to be part of the Guinness World Record for Tree Planting. ???? Find out more here and how you can get involved: https://bit.ly/TreeGuinnessWorldRecord

回复
Wendy Avelino Merchant

Construction Assistant

9 个月

Why leave perfectly useable space vacant when the housing shortage is still a major factor in the U.S. Let people live in these facilities and be warm, dry, and safe. I support this movement.

回复
Fabio Ferlito

Branded Content - Relaciones Públicas - International Business Development y Ventas (B2B) - Ex-Amazon - Peque?o Inversor

9 个月

Absolutely yes! Cities like Barcelona where finding a property to rent or buy is complicated, with a chronic deficit of flats and properties (many owners prefer renting it to tourists), and with the complicity of useless local politicians, require a drastic change and new ideas (perhaps not so new). Accommodations are needed, and office space if properly refurbished would be a great alternative.

回复
Ronaldo Scheer

owner of my own nose

10 个月

What about, if it transforms those offices buildings, in a home office?! For example: Anyone could sleep at night and during the day, just work?!

回复
Derrick Pare

???????? | ?????? | ?????? ??????????????????y | ?????????????? ?????????????????? ???????????????????? | ?????????????? ???????????????? | ???????????????????????? | ???????????? ?????????? ?????????????? ??????????????

10 个月
回复

要查看或添加评论,请登录

CNN的更多文章

社区洞察

其他会员也浏览了