The repurposing of old office buildings into apartment buildings is a new strategy that may help Washington gain more affordable housing. There are drawbacks, though, that include a fully leased office building can yield a higher return on investment than an apartment building. There are also many costs in converting an aging office building into a residential building like gutting, removing asbestos, redoing mechanical and plumbing systems, and more. Even so, the costs may be worth it in the effort to help the affordable-housing problem. [WaPo]
Filed under: