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Last week, the New York City Council voted to approve an amended version of the Adams Administration's 'City of Yes' housing vision for 80,000 new homes over the next 15 years. This will require a $5 billion public investment and comes with several key inclusionary zoning (including ADUs... View full entry
Multiple Detroit news outlets are reporting about the controversy swirling around a potential demolition of the city’s downtown Renaissance Center five-tower block as General Motors looks to secure public funds needed for a renovation. The company is apparently pursuing an all-or-not approach to... View full entry
The New York Times recently outlined some of the facts underpinning NYC’s housing crisis ahead of an upcoming final City Council vote on Mayor Eric Adams’ amended ‘City of Yes’ zoning overhaul plan for 80,000 new residential units on December 5th. Among the interesting takeaways... View full entry
Today, the ideas Mr. Lombardi pioneered nearly 50 years ago are serving as a template for addressing twin problems: the city’s enormous office glut and its growing housing crisis. Mr. Lombardi, now 84 and still running a 16-person firm, is part of a wave of architects and developers now undertaking the mammoth work of converting financially distressed office buildings into multifamily housing. — The New York Times
A lengthy Times profile on the legendary New York conversion architect Joseph Pell Lombardi traces his early career efforts in SoHo and the Financial District to the contemporary challenges posed by office buildings and the impetus to remake them into housing in spite of the difficult... View full entry
New York City's recently launched Office Conversion Accelerator Program has drawn interest from 64 building owners in Manhattan as planning officials mull changes to help speed up the process intended to deliver 20,000 new units of housing by 2033. The market for conversion in Lower... View full entry
The balance of power in the market for residential conversion projects in the United States has shifted from offices to hotels for the first time, according to new statistics included in RentCafe’s latest market snapshot report for 2023. Per their analysis of Yardi Matrix data, 4,556 of the... View full entry
UCLA has purchased the former Westside Pavilion shopping mall near its campus, reports The Real Deal. The 580,000-square-foot office known as One Westside was formerly been leased to Google for a 14-year term, but was left vacant as the company’s staff reductions began in January of this... View full entry
MVRDV has completed work on a vibrant new conversion project in Berlin called HAUS 1 that reworked an aging office building from 1997 into a new hub for innovation and community. Other than the eye-catching canary color finish, the project is visually dominated by an extended grand external... View full entry
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... View full entry
The Biden Administration has announced a new initiative aimed at financing office conversions in an effort to combat the growing problem of high vacancy rates and housing affordability in markets large and small across the country. The announcement comes as vacancy rates have skyrocketed to... View full entry
The building’s future as housing began to take shape this week when the Brodsky Organization, a residential developer, bought a stake in the 22-story, triangular-shaped tower on Fifth Avenue. Brodsky will lead the conversion, carving out units — either for sale as condominiums or as rentals — from the notoriously awkward space.
The exact layout and the number of new residences have not been determined.
— The New York Times
The project will take about three years to complete once plans finally clear the lengthy approval process. Developers told the New York Times they are considering multiple schemes but have yet to determine the total number of residential units the conversion will create. The saga began with... View full entry
U.S. colleges are taking advantage of a post-pandemic increase in affordable, unused offices by purchasing such properties for educational use, according to reporting by The New York Times. Since 2018, numerous higher education institutions in the U.S. have been acquiring office buildings, with... View full entry
Snøhetta and Park Associati have published photographs showing progress on the refurbishment of the 1960s Pirelli 35 office block in Milan. When completed in 2024, the project seeks to “create a generous and publicly accessible building with a significantly reduced carbon footprint.”... View full entry
New York City officials announced plans on Thursday to ease the conversion of office buildings to housing and to open manufacturing areas south of Times Square to new residential development, as part of a broader push to reinvent the struggling business district in Midtown Manhattan and address the city’s housing crisis. — The New York Times
The news comes after the revelation last week that a total of zero new housing starts were approved in Manhattan in the month of July. The Adams administration previously announced its desire to create 40,000 new residential units through the adaptive reuse of office buildings. The rezoned area... View full entry
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... View full entry
