Despite efforts on the part of many employers to bring workers back to the office, office buildings are now the most distressed segment of the commercial real estate market.
Move over, dead malls: there’s a new troubled kid in town. “According to a new report by MSCI Real Assets analyzing the commercial real-estate sector, around $24.8 billion of office buildings in the U.S. were in financial distress by the end of the second quarter — surpassing both retail (which includes malls) and hotels,” explains Clio Chang in Curbed.
“As remote work continues to force companies to cut back their real-estate footprints, the MSCI report showed that the measure of offices in distress was up by 36 percent since the first quarter. Meanwhile, the country’s overall office-vacancy rate is at 20 percent.”
While housing advocates tout office vacancies as an opportunity to convert these centrally located buildings to housing, it remains to be seen if that idea can overcome the costs and logistical challenges of adaptive reuse.
FULL STORY: Offices Are the New Malls
How the Post-Covid Reality Is Reshaping Central Business Districts and Urban Centers
U.S. cities are working to redefine their downtowns in response to the “donut effect:” people and businesses abandoning city centers and flocking to suburban areas and beyond.
California Law Would Streamline Adaptive Reuse Process
A bill passed by the state senate would ease the permitting process for office conversions in central city neighborhoods.
Office Vacancies Drag Down Property Taxes
Downtown office buildings around the country are selling for much lower prices than before the pandemic, prompting questions about the future of central business districts.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.
Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.
LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions