Homer is most assuredly not crazy. Besides the largely empty PacWest center, which Allan shows in his piece, the new Ritz Carlton building is literally a vertical ghost town. Essentially none of the condos have sold. Excellent piece last year in the New Yorker magazine about efforts like this underway in New York City. (Subscription may be required) Can Turning Office Towers Into Apartments Save Downtowns?https://www.newyorker.com/magazine/2024/05/06/can-turning-office-towers-into-apartments-save-downtowns
Homer is most assuredly not crazy. Besides the largely empty PacWest center, which Allan shows in his piece, the new Ritz Carlton building is literally a vertical ghost town. Essentially none of the condos have sold. Excellent piece last year in the New Yorker magazine about efforts like this underway in New York City. (Subscription may be required) Can Turning Office Towers Into Apartments Save Downtowns?https://www.newyorker.com/magazine/2024/05/06/can-turning-office-towers-into-apartments-save-downtowns