
Seattle-Area Buildings Prime for Office-to-Housing Conversion
In a new working paper published recently by the National Bureau of Economic Research, researchers at New York University and Columbia University determined that 11% of office buildings in the U.S. are physically suitable for conversion to apartments. Converting offices into apartments is gaining popularity amid housing shortages in cities across the nation.
Dozens of aging office buildings across Seattle, Tacoma and Bellevue could be good candidates for conversion into thousands of new apartments, a possible solution to the housing shortage as empty offices go unused.
According to the Puget Sound Business Journal, the researchers compiled a list of 91 office properties in the Seattle metro area that would be prime candidates for conversion. The list includes notable downtown Seattle buildings like the Westin Building and Smith Tower. In total, these buildings add up to nearly six million square feet of space.