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- A study finds that dorm-style housing could be an efficient path to convert vacant office space.
- Conversions to apartments are often costly and can face regulatory barriers.
- The study comes as office vacancies rise and housing supply remains constrained.
Conversion to housing is often touted as a solution to the problems facing the office sector, and a new study points to a more efficient way to pull off such overhauls, which are usually costly and difficult.
“Flexible co-living,” or dormitory-style apartments where residents share kitchen, bathroom, laundry and living spaces, could be a more efficient path to converting unused space, according to a study published Tuesday by the Pew Charitable Trusts and design firm Gensler
It’s “an innovative approach to the office-to-residential conversion market—one that is scalable and poised to facilitate meaningful, long-term transformation in these cities and the lives of its residents,” said Wes LeBlanc, Principal and Strategy Director at Gensler.