Real estate
10:30 10 December 2023
Post by: WBJ

How to unlock the potential of underutilized commercial real estate

How to unlock the potential of underutilized commercial real estate
Source: ULI

In the face of the housing crisis, the possibility of repurposing existing commercial buildings for residential use is receiving increasing attention. The question is: Can this approach solve the housing shortage in appropriate locations, and can it be profitable for developers? 

According to Urban Land Institute (ULI) experts, changing trends in the office, retail, and hotel markets are making commercial adaptive reuse not just an option, but often a necessity. In a comprehensive report, “Behind the Façade”, they analyze the cases of 30 conversions that have taken place in the U.S. in recent years. Their market observations suggest that such conversions have the potential to impact the use of real estate significantly. This is especially true for older B/C office buildings that are becoming functionally obsolete. The pandemic has accelerated this trend, driven by changing work patterns and the fact that overall post-pandemic demand for office space is lower than in the past and more concentrated in newer facilities.

(WBJ)


real estate
uli

More News

lifestyle

LifeStyle
1 month ago

'We work hard, we achieved what we have on our own, we are strong women, and we have our voice': Joanna Krupa

LifeStyle
1 month ago

Magdalena Lamparska: 'Viewers have come to enjoy watching movies at home'

LifeStyle
1 month ago

8th edition of the 4 Design Days in Katowice 25–28 January Everlasting design. Timeless architecture.

LifeStyle
1 month ago

Children's birth completely changed my perception of the world: actress Zuzanna Grabowska

Book of Lists

Book of Lists
3 years ago

The largest Polish companies under the Book of Lists microscope! Book of Lists 2020/2021 certificates have been awarded.

Book of Lists
3 years ago

25th jubilee edition of Book of Lists – project start