https://fortune.com/2024/02/25/office-commercial-real-estate-crisis-doom-loop-conversion-housing-subsidies-demolition/
“At the end of the day, I think the problem is that we have too much office relative to our future needs, and a lot of places have too little housing. So I think one way or another, we’re going to have to turn some of that office space into apartments,” said Van Nieuwerburgh. “That might have to partially happen through demolition. But it would be nice if we could have at least some of it through conversion. It’s sort of the environmentally friendly way to go.”
Is it maybe possible to just use the buildings and turn them in to something useful like housing? As long as it functions adequately
Well, that doesn't sound very profitable. We're just gonna have to tear them down. Sure, that costs more, but we'll just claim bankruptcy and make the taxpayers pay for it.
Issue with that is they tend to be giant glass monstrosities that have horrendous air conditioning costs that would make rent or the price of ac exorbitantly high