2024 Fall Issue of Urban Land - 90

Downtown
Office-toResidential
Conversions
Obsolete
buildings will
constitute up to 50
percent of all new
housing in cities
RICHARD PEISER, EVAN KINDLER, AND
STEVEN PAYNTER
Remote woRk's impact on demand
for office space is still working its way
through the system. Technology companies
such as Google have led the way in
requiring workers to return to the office,
with expectations that employees are
there three to five days a week.
Employees get the message that
career advancement may depend on
their showing up regularly in the office,
as companies believe that face-to-face
contact there helps promote productivity
and their work culture. Nonetheless, the
cumulative effect of fallout from Covid-19
is causing many office buildings-most
notably ones of B and C quality-to suffer
potentially fatal levels of vacancy. Ironically,
Class C is doing better than Class
B because it is cheap. Class B and lesser
Class A are suffering the most because
they are neither good nor cheap.
Buildings that are considered the
" worst " office buildings-typically Class
B-often are the best candidates for conversion
to residential uses. The smaller
floor plates and high floor-to-floor ceilings
lend themselves to residential conversion.
Office building HVAC ducts and
electrical wiring reduce 11-foot (3.3 m)
floor-to-floor stories to about 8 feet (2.4
m) in height. Such ducts and cabling
can be stripped back for residential uses,
leaving 10-foot (3 m) ceilings that feel
spacious and luxurious to residents.
Gensler developed scoring criteria for
Built in 1968, the 12-story St Clair West in Toronto is being redeveloped by Slate Asset
Management from office to mixed-use residential. It's slated for completion in 2024.
evaluating the suitability of buildings to
conversion from office to residential. The
criteria shown in Figure 1 consider the
site context, building form, floor plate
90
URBAN LAND
FALL 202 4
GENSLER AND SL A TE AS SET MANA GEMENT

2024 Fall Issue of Urban Land

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