“Over 55,000 residential units are in the pipeline, concentrated in major metros.”
Why this is important: Supply chain disruptions are not the only lingering effect of the COVID-19 pandemic. Many in the workforce that were forced to work remotely during the pandemic chose to, or were allowed to, continue remote work once businesses resumed in-person operations. Remote work, in turn, led to extensive vacancies in office buildings throughout the United States. Rather than see these vacant office buildings as unusable space, potentially subject to demolition, some developers, design professionals and contractors began converting the vacant office space into residential units, with more than 55,000 units in the process of conversion at this time. This article highlights five of the largest office conversions in progress: (1) 25 Water Street in New York, NY; (2) Ames Center in Arlington, VA; (3) The Centennial in Cleveland, OH; (4) 135 South LaSalle St. in Chicago, IL; and (5) Kierland Sky in Scottsdale, AZ. These projects can repurpose older, existing buildings and/or parking areas into residential and mixed use space, which helps keep the metro area intact and vibrant. In some instances, developers plan to add new green space (e.g., Kierland), amenities (which include a museum at Centennial), and retail outlets for residents, and/or create affordable housing within the development (e.g., LaSalle).
--- Stephanie U. Eaton
Security in Building Design Falls Short and Adds Costs, Study Finds