![]() The fund's former sustainability director, Patrice Frey, said reusing an existing building can reduce emissions dramatically. It can take up to 80 years for a new, energy-efficient building to offset its own carbon emissions, according to a study by the National Historic Preservation Fund's Preservation Green Lab. ![]() "They actually are pretty complex and expensive projects to execute, so would have disincentivized the creation of more housing downtown." Turning offices into homes would be better for the environment than starting from scratchīuilding construction produces 11% of global carbon emissions, according to the World Green Building Council. "The economics of these projects, they're not slam dunks," said Guilherme Almeida, the firm's director of high performance design. Alderman said approval also requires support from politicians, who often add requirements for affordable housing a developer may be unable to afford. Rezoning a property for residential use can be timely and costly. In New York, strict zoning rules already impact which buildings - and in some cases, how many floors - can be converted into housing. But politics may be a greater factor in a project's success.Įven as cities try to entice developers to turn office buildings into apartments, they've also put up obstacles. A lot of buildings don't - they're too wide, or have the wrong kind of windows, which makes conversion more expensive. Too many rules, not enough incentivesĬonverting an office building into a residential space can be difficult, and that's when the building already has the right structure to work with. Alderman said the company is actively bidding on properties. Spoiler: They're loving itĪs demand for other office buildings decreases, Hines is considering office-to-apartment conversion projects. ![]() Business Airbnb let its workers live and work anywhere.
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