"City of Dreams, City of Density: NYC's Office-to-Residence Experiment Hits a Snag As the nation's most populous city continues to grapple with a crippling housing shortage, New York City has taken a bold approach to address the issue: converting vacant office buildings into apartments. Since the pandemic forced companies to abandon their downtown high-rises, the city has seized the opportunity to repurpose these spaces into much-needed residences. But a new report suggests that this ambitious plan may be hitting a roadblock, with many office-to-residence conversions facing significant delays and cost overruns. Will NYC's innovative solution to its housing crisis be derailed by bureaucratic red tape and financial woes?"
Since the Covid-19 pandemic shuttered offices nationwide, New York City has bet heavily on converting empty office buildings into apartments to address its chronic housing shortage. Subscribe to read ...
