New York City is having an office-to-housing conversion boom. Could Chicago be next?
AI Article Summary
New York City is experiencing an increase in office-to-housing conversions, and some believe Chicago might follow suit due to higher downtown office vacancy rates. These conversions are seen as a potential solution to the affordable housing shortage in Chicago. Housing advocates are emphasizing the repurposing of vacant office buildings to help address housing needs.
What This Means for Canadian Contractors
This trend illustrates how cities can utilize existing commercial infrastructure to address housing shortages. For Canadian builders, this means opportunities for contracts related to conversions are likely to increase, impacting project timelines and potentially lowering costs with prefabrication strategies. Engaging with city planning departments early could enhance permit acquisition processes.
