Now the algorithm he spearheaded collapses the survey process — which must be conducted to determine whether a commercial building can be turned into apartments — from months to hours. His work will help these conversions to be enacted on a mass scale. which is important given the urgency created by America's rising office-vacancy rates due to the pandemic's reshuffling of where and how we work. It could help bring people back to downtowns across North America as renters or homeowners — Business Insider
Gensler estimates that only 3 out of 10 office buildings are eligible for conversion. The pitfalls of mass-scale conversions remain impediments even as architecture firms are earning more from renovations than new buildings for the first time. In the last two years alone, office conversions have jumped by 25%, with an estimated 77,000 apartments currently under construction, according to November data from RentCafe.
"If we can find the perfect buildings for conversion, you start to be able to correct the market, you start to be able to bring people back to neighborhoods," Paynter said to Business Insider. "And then, actually, the demand for the remaining office buildings goes up, because you're creating scarcity by taking some out of the market."
7 Comments
how much would the rent need to be to be comparable to an office ? Do we have a metric on that ?
basically
thank s
Interesting. Google was working on a similar project called Flux a few years back - also a blackbox that takes various inputs to pump out design scenarios. Since then, more startups have presented similar plugins and platforms. I wonder what software is he using? A combo of Excel, Gh, and C#/Python?
LMAO I knew it. Gensler is not exactly a hotbed of software innovation. The developers can pretty much do most of this themselves - they have far more elaborate models.
'Algorithms' getting thrown around all the time like some magic buzzword.
On a related, less PR-shilling note (Face it, that article was a de facto press release for Gensler): https://www.nyc.gov/site/plann...
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