Randstad Engineering US’ Post

I hear all of the so called experts in this space. From those that understand the industry and how buildings are built, this is not impossible, but at what cost? The cost-benefit analysis would be so far in the negative. Thank god for common sense. #building #construction #housing #affordability #policy. https://lnkd.in/gsFi6cxJ

Konrad Putzier covers the 1 billion square feet of vacant office space in the US. What's making it hard to convert into residential units? The mounting concerns of regional banks' funding of construction lending and historically interest rates. Conversions aren't happening and the housing shortage continues. Architects and designers are chomping at the bit to tackle this issue but the financing needs to be made available. What can local government do to make this happen more quickly? #interiordesign #architecture #cityplanning #cityscape #commercialoffice #adaptivereuse https://lnkd.in/e_YJiWEJ

Offices Into Housing…Easier Said Than Done   Christopher Thornberg, founding partner and economist wit Beacon Economics, said at a recent presentation fo San Jose State ““How do you make housing more affordable? You build more housing… “You need to start taking down these office buildings and putting up apartments, However, Thornberg said he prefers “adaptive reuse” of existing office buildings rather than projects that bulldoze office structures. Too much demolition could create “dead zones” in urban areas”. In my previous blogs I have mentioned repeatedly that over time office buildings that are physically or economically obsolete will be demolished and replaced with housing. There will be very few that are transitioned into housing due to the constraints most buildings have with central restrooms, air conditioning, too-large floor plates to allow residential conversion with window access, and a host of other issues which makes most office buildings non-conversion candidates. Demolishing means the value of the office building goes down to less-than land value as you have to deal with the cost of demolition and disposing of the rubble. #OfficeConversion;#OfficeBuildings;#Housing; #SIOR

https://lnkd.in/dZRV-GY3 Thanks for sharing David Koren. Seems there is a need for more residential space in major cities however it seems multi use should be addressed as part of a synergy between remote work and office presence. change is inevitable for both design, rennovation and construction as part of a total overhaul of City Living

There’s a paradox facing major cities in the US: office buildings are sitting empty while housing is in short-supply. While conversions are possible, real estate developers face a host of physical, regulatory and financial constraints that may slow them down. https://lnkd.in/gicWvEeZ #buildings #realestate #investment #apartments #landmark #structural #complexity #conversion #executivesearchfirm #executivesearch #executiverecruiter #executiverecruitment #architecture #design #architectureanddesign #interiordesign #landscapearchitecture

There's a paradox facing major cities in the US: office buildings are sitting empty while housing is in short-supply. While conversions are possible, real estate developers face a host of physical, regulatory and financial constraints that may slow them down. https://lnkd.in/gFGZ5qez #buildings #realestate #investment #apartments #landmark #structural #complexity #conversion #executivesearchfirm #executivesearch #executiverecruiter #executiverecruitment #architecture #design #architectureanddesign #interiordesign #landscapearchitecture

Check out this Boston Globe article that quotes Suffolk Chairman & CEO John Fish about the state of Boston’s real estate market and the challenges facing residential and commercial construction in the region. The backlog of projects that are permitted but haven’t yet started are complicating efforts to address the region’s housing shortage and to build office space better suited for the post-lockdown world.

Check out this Boston Globe article that quotes Suffolk Chairman & CEO John Fish about the state of Boston’s real estate market and the challenges facing residential and commercial construction in the region. The backlog of projects that are permitted but haven’t yet started are complicating efforts to address the region’s housing shortage and to build office space better suited for the post-lockdown world.

I love a insightful economic paper; especially one that relates to Architecture and Commercial Real Estate. The findings from "Converting Brown Office Buildings to Green Apartments" by Gupta, Martinez, & Nieuwerburgh will get some press of the highlights; below is a link to a PDF of the study. High Level Findings: - Portland/Vancouver has 98 candidates per their model, representing 6.6 M SF (Estimated at 11% of assets nationally) - Initial assessment (Page 30) assumes a starting price of $113/SF for an office asset, disposed of at $47/SF (41% of initial value, ouch) with an average conversion price of $286/SF chasing new rents of $3.73/SF - Inclusionary zoning (affordable housing component) hurts the revenue side and the overall payback for conversion. Government subsidies through property tax abatement or subsidized debt can help push these projects pencil - Conversions are most likely in New York, San Francisco, San Jose, Boston, Washington DC & Denver where apartment rents are high enough to overcome the purchase cost and conversion cost of office assets. - Local government can help accelerate conversions by bending building codes to allow more existing conditions to stay in place - e.g. window requirements, outdoor spaces - and through subsidies/tax holidays. Copyright credit to the authors and to the National Bureau of Economic Research that published the article. Source link here: https://lnkd.in/g4FWnCw6

In an article for Building Magazine, Directors Steve Watts and John Lione compare and contrast the factors involved in the construction of tall buildings in Toronto and London, two influential cities whose skylines have seen vast change over the last 20 years.   The need for building vertically has increased in recent times due to urbanisation and globalisation meaning more significant numbers of people have migrated to established cities.   The article delves into the components which have necessitated vertical densification in each location, their trends in design and procurement, and corresponding cost drivers. Summary cost models for a high-rise commercial office tower in both cities have been included to illustrate the points addressed.   The article looks to the future of tall buildings – how can cities like Toronto and London adapt and thrive in the face of existential threats like COVID-19, climate change and geopolitics, which have the ability to alter the way they function?   There is an opportunity for design teams to reimagine how tall buildings are conceptualised as we strive for more futureproof, sustainable, healthy, and viable vertical spaces.   Thanks to the following who contributed to the article:   Turner & Townsend (Toronto): Darren Cash MRICS, PQS, Ken Orphanides, Chelvan Ramalingam New London Architecture (NLA) : Peter Murray OBE City of Toronto: James Parakh   Read more: bit.ly/3uKcoMv #BuildingMagazine #TallBuildings #BuildingVertical #Urbanisation