A study finds that dorm-style housing could be an efficient path to convert vacant office space.
The study comes as office vacancies rise and housing supply remains constrained.
The report comes as companies reevaluate their need for office space in the wake of the COVID-19 pandemic.
The national office vacancy rate is set to rise to around 20% by the end of this year, according to commercial real estate firm CBRE.
The report comes as the number of office spaces set for residential conversions is on the rise, up to 55,000 this year.
Persons:
—, Wes LeBlanc, Alex Horowitz
Organizations:
Service, Pew
Locations:
Denver, Minneapolis, Seattle