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Challenges in Converting Empty Offices into Apartments
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Overview
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Converting empty office buildings into apartments is becoming increasingly challenging in cities like New York. Financing issues, stagnating rental markets, and obstacles make these conversions less attractive to investors. However, the White House is updating guidance and seeking the conversion of government-owned properties into housing.
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How can cities overcome the financing issues and stagnating rental markets in converting office buildings?
What are the potential benefits of converting empty office buildings into apartments?
What impact could the conversion of government-owned properties into housing have on the housing market?
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