Condos Breathe New Life into Old Offices

Historic office buildings are increasingly being reinvented as condominiums in CBDs (central business districts) across the country.

"Historic office buildings are a hot item these days â€" but not for office tenants. Urban housing shortages, low mortgage rates, and soft office leasing markets are resulting in a wave of condo conversions, as historic downtown office buildings find new life as luxury condos.

...The success of office conversions isn’t going unnoticed by the hotel industry. In San Francisco, both the Fairmont Hotel and the Palace Hotel are considering converting some of their rooms into condos. Located on Nob Hill, the Fairmont, built in 1906, is one of the city’s landmarks â€" although the rooms being considered for conversion are located in an undistinguished 29-story addition constructed in 1961."

Thanks to Kristen Richards

Full Story: INSIGHT: Condos Breathe New Life into Old Offices


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