Similar to how lower demand for hotel rooms at the beginning of the COVID era gave rise to the uptick in hotel-to-multifamily conversions, this article aptly points out how the continued lower demand for office space layered on top of the seemingly insatiable demand for multifamily housing units might make office-to-multifamily conversions more attractive to developers. But, as noted later in the article, similar does not mean the same. Converting office rather than hotel space to multifamily units often has steeper hurdles to overcome in terms of zoning and physical layout limitations, not to mention the competition from "office-lite" uses like shared workspaces. A good article for anyone interested in one potential future for the multifamily industry.
