CPE Poll: Office to Residential Conversions

Commercial Property Executive has just released a new reader poll! We want to know about the extent to which your firm is undertaking office to residential conversions, at a time when the nation is experiencing a shortage of nearly 4 million units, and cities such as New York have plans to convert unused office space to tens of thousands of multifamily units.

The viability of such projects depends on a multitude of factors, from the building’s age and equipment to floorplate sizes. Possible responses range from conversions already completed or in progress, to identifying them as not feasible at all.

In last month’s poll, we surveyed readers on the impacts that rising insurance costs are having on their businesses. 82 percent of respondents said that the inflated rates, at a time of increasingly frequent severe weather events and deflated property values, are taking a toll on some fundamental aspects of their businesses. The remainder, an even 9 percent split, stated that they are either looking to switch carriers at a time when many have exited the market, while others are continuing to adjust their investment and development strategies.

Click here to see CPE’s latest poll, and the results of previous surveys.