How an Algorithm is Boosting Office-to-Residential Conversion as Demand for Housing Rises
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Gensler's proprietary algorithm, developed to assess office properties for conversion potential, is helping developers like RXR Realty identify high-value candidates for turning underused office buildings into residential units. As commercial properties in cities like New York face rising vacancies and declining value, this tool evaluates factors such as transit access, walkability, and layout to rate properties' suitability for conversion. RXR has already redeveloped millions of square feet and continues to explore conversions in multiple cities, using the algorithm to address both housing shortages and office market challenges. The momentum for office-to-residential conversions is growing, with cities and local officials increasingly supporting these projects as a solution for urban housing needs.
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