https://fortune.com/2024/02/25/office-commercial-real-estate-crisis-doom-loop-conversion-housing-subsidies-demolition/

“At the end of the day, I think the problem is that we have too much office relative to our future needs, and a lot of places have too little housing. So I think one way or another, we’re going to have to turn some of that office space into apartments,” said Van Nieuwerburgh. “That might have to partially happen through demolition. But it would be nice if we could have at least some of it through conversion. It’s sort of the environmentally friendly way to go.”

12 points
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Sometimes it’s even too expensive to turn them into apartments, could just build a whole ass other tower for the cost. Who would have thought that having a giant tower of glass with no areas for recreation and balconies was going to be an overheated waste of space

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8 points

30% of office buildings should be transformed into esoteric art collectives

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14 points

they’re going to be turned into parking lots, aren’t they

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2 points

If you mean surface lots, yeah, probably. Those things are strong enough to be multi-level parking.

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9 points

Joni Mitchell will have to update her lyrics

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In the downtown cores, where demolition costs are highest, there are lots of businesses that would be willing to re-locate once rents reset. Suburban office parks are the ones that should be torn down and redeveloped.

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7 points

Is it maybe possible to just use the buildings and turn them in to something useful like housing? As long as it functions adequately

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5 points

Issue with that is they tend to be giant glass monstrosities that have horrendous air conditioning costs that would make rent or the price of ac exorbitantly high

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9 points

Well, that doesn’t sound very profitable. We’re just gonna have to tear them down. Sure, that costs more, but we’ll just claim bankruptcy and make the taxpayers pay for it.

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