Report: NYC's Office-to-Residential Conversions to Create 17,000+ New Homes
By
geox
A baker's-dozen of insight crammed into one ring.
Summary
New York City's first wave of office-to-residential conversions could result in over 17,000 new homes, addressing the city's housing shortage. A report by City Comptroller Brad Lander highlights the potential impact of 44 office conversions initiated post-pandemic.
Key quotes
· 2 pulledNew York City’s first wave of office-to-residential conversions could yield over 17,000 new apartments, highlighting the potential for such projects to help ease the city’s housing shortage, according to a new report.
The report finds that 44 office conversions initiated after the pandemic could transform 15.2 million square feet of office space into as many as 17,400 homes.
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