Free is affordable to me, but I’d have to have at least one off-street parking spot.
The headline should read: “taxpayers get raped again”
And so close to the job market.
Oh wait...
If there are no businesses, there are no jobs, thus no need for apartments.
Having done some commercial real estate I can tell you conversion of office space to residential would cost a bundle to bring to code for plumbing alone.
This is BS. Office buildings do not have the number of bathrooms, showers, kitchens, etc to be converted to apartments. They simply do not have the plumbing and exhaust ventilation to be converted to apartments. Yes, in theory it can be done, but at a hell of a cost.
Not new.
Grand Rapids was turning derelict furniture factories into apartments and condos of varying “affordability” 20 years ago.
Repurposing commercial real estate into housing (not to say “warehousing”, though I see that possibility, depending on whether government or the private profit-driven owners are driving the boat) is a sensible reaction to changing economic conditions.
Such a moronic headline. “Affordable” to the renters, but not to the landlords or builders, who will go bankrupt leading to more homelessness.