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An updated study led by Gensler tracks progress of office-to-residential conversion data

2023-12-04T10:15:00-05:00

Gensler Principal Steven Paynter shares an update announcing important statistical findings related to his firm’s work surrounding the adaptive reuse and conversion of office buildings worldwide.

The data report has been updated to reflect changes in office conversions. The firm shares that an estimate of only 25% of buildings (from Gensler's original assessment) are suitable for conversion. This is a decrease from the 33% figure that was reported in January as Gensler began marketing its proprietary metric of office conversions.

The new study was expanded to cover some 1,000 buildings, an increase from their previous analysis of 300 buildings. Paynter and his team now report that conversion is "an unprecedented opportunity to create new residential stock quickly, sustainably, and at a 30% lower cost than new construction."

Previously on Archinect: Gensler Principal Steven Paynter further details office conversion algorithm in podcast sit-down

The assessment also provided some intere...

Gensler Principal Steven Paynter further details office conversion algorithm in podcast sit-down

2023-08-17T14:37:00-04:00

Gensler Principal and Studio Director Steven Paynter sat down recently with financial news service Marketplace.org to detail his firm’s year-old proprietary office conversion metric, a unique tool that has become indispensable as the industry looks to position itself for the mass-scale nationwide surge in the conversion market expected for the coming decade.

Paynter had previously revealed the metric’s surprising findings that only about 30% of commercial buildings have the ideal structural prerequisites (e.g., window depth, floor plates, and ceiling heights), essentially doubling down on his original claims with added details as to the so-called “Goldilocks” zones architects look for when looking at structures for a residential conversion.

“[If] you took a typical floor plate, for example, in those the average unit size for your location or your city, it would divide that unit size by the quarter window depth, so very quickly say, OK, your unit ends up being 25 feet wide and 30 fe...