Photo: Ryland West/ALM Strawberries on Lex: Considerations for Financing an Office Building to Vertical Farming Conversion
While the potential advantages of converting office buildings into residential spaces are widely acknowledged, such conversions can be financially burdensome and present structural difficulties, often requiring a complete overhaul of existing floor plans and resulting in awkward layouts. As a result, another trend gaining traction in cities nationwide is repurposing office buildings for agricultural use and creating farms in urban centers.
November 14, 2023 at 11:48 AM
6 minute read
Real Estate
In the post-pandemic world, significant attention and discussions within the real estate industry have revolved around finding solutions to the looming crisis of rising office vacancy rates. Currently, the predominant focus has been on repurposing vacant office spaces for residential use, particularly in high demand locations like New York City.
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