Home Real Estate Converting commercial real estate into residential units could benefit cities and counties

Converting commercial real estate into residential units could benefit cities and counties

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Even before the COVID-19 pandemic emptied out cities and counties from Maine to California, America’s office environment was being redefined as employers increasingly offered telework opportunities. 

With the rise of the tech industry, in-person work requirements have become somewhat obsolete (in some sectors). These days, employees can punch into the same digital time clocks from different time zones; meetings can be held via video conferencing platforms; and cross-platform collaboration offers more immediacy than working in adjacent cubicles. 

It’s a trend that was solidified by the pandemic. When hospitals filled up and stay-at-home orders were issued, office spaces were hurriedly vacated—many for good.  

Between the end of 2019 and 2021, office vacancy rates across all sectors and regions jumped from 9 to 16.4 percent, based on data published by Statista Research Department. Fundamentally, the pandemic…

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