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With unprecedented, exponential growth re-shaping the city center of CLEVELAND, residential and property management companies are converting vacant skyscrapers and former office buildings into luxury, market rate apartments and condos.
Downtown Cleveland's residential occupancy rate is at 97% - with waiting lists for existing properties that are years long.
I think Philly and Baltimore have had some of the most commercial to residential conversions of any city. It's one of the driving factors that has made Center City one of the most highly populated downtown's in the nation. It is also making Baltimore another city with a very high downtown population. The equilibrium can be thrown off though because the daytime population may fall and continue to fall without office construction but the city is livelier at night though.
I thought about this one. Are any of these buildings being converted from occupied office space to residential? The Omaha examples were all vacant for at least a decade so losing their office space really didn't change the daytime population. I would assume the same holds true for most cities, there isn't a reason to rehab a building if it is being used. I suppose it may hurt future office prospects with less ready to go office space though.
I thought about this one. Are any of these buildings being converted from occupied office space to residential? The Omaha examples were all vacant for at least a decade so losing their office space really didn't change the daytime population. I would assume the same holds true for most cities, there isn't a reason to rehab a building if it is being used. I suppose it may hurt future office prospects with less ready to go office space though.
Most (if not all) of the office conversions in Atlanta were empty for several years prior to converting to residential...if they were occupied there wouldn't really be any reason to convert them.
Great thread! good to see we're moving more people into our downtowns
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