Revitalizing Main Street and Urban Corridors: Exploring the Potential of Commercial to Residential Conversion Projects
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This report delves into the transformative trend of converting commercial properties, including high-rise office buildings and various smaller commercial structures, into residential dwellings. This practice has gained momentum, especially after reduced commercial property occupancy due to the pandemic and the ongoing housing affordability challenge. Highlighting the complex economic, regulatory and infrastructural considerations such as remodeling, safety compliance and zoning laws, the report underscores the intricate process behind making commercial-to-residential conversions feasible and successful. Moreover, it illustrates how these conversions, despite the obstacles, offer substantial benefits to communities, developers and local authorities by rejuvenating vacant properties into vibrant living spaces. The report further explores the role of creative policy-making in facilitating such transformations, thereby contributing to the enhancement of housing supply and affordability, as well as the revitalization of urban and rural environments.
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Advancing Local Housing Affordability: NACo Housing Task Force Final Report
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