How Mixed-Use Housing Transforms City Landscapes

The "City of Yes" initiative in #NewYorkCity which will be voted on by NYC Council today is part of a broader effort to address the city's housing crisis, promote economic growth, and create more livable spaces for residents. One of the key components of this initiative is to **facilitate office-to-residential conversions**—transforming underutilized office buildings into new housing units. This is particularly relevant as remote work and changing work habits have left many office spaces vacant or underused. 🏢 ➡️ 🏠How "#CityofYes" Will Impact #OfficetoResidential Conversions: 1. **Easing Zoning and Regulatory Barriers**: New zoning changes will make it easier to convert office buildings into residential spaces by relaxing certain regulations, such as parking requirements or height restrictions. This flexibility encourages developers to repurpose existing structures rather than build entirely new ones, helping to meet the demand for housing more quickly. 2. **Affordable Housing Incentives**: By supporting office-to-residential conversions, the "City of Yes" aims to create more affordable housing options. The initiative includes provisions that may offer developers financial incentives—like tax breaks or bonuses—for incorporating affordable units into these converted spaces. 3. **Revitalizing Vacant Office Buildings**: Many office buildings, especially in central business districts, have experienced decreased demand due to the rise of remote and hybrid work models. Converting these vacant or underused properties into residential units can breathe new life into urban areas, contributing to neighborhood revitalization and reducing the city's surplus of empty commercial real estate. 4. **Sustainability and Environmental Benefits**: Repurposing existing buildings is also a more sustainable option compared to new construction, as it reduces the need for demolition and the environmental costs associated with building from scratch. The "City of Yes" emphasizes environmentally friendly development, and these conversions can contribute to greener, more sustainable urban growth. 5. **Improved Urban Design and Mixed-Use Spaces**: The conversion of office buildings into residential units could help create more dynamic, mixed-use neighborhoods. People living in these converted spaces could be closer to workplaces, retail, and transportation, reducing reliance on commuting and fostering more walkable, vibrant areas. The "City of Yes" initiative is a key step in addressing NYC's housing needs by making it easier to convert empty office buildings into affordable and sustainable homes. By doing so, it not only tackles the housing crisis but also revitalizes urban spaces and encourages smarter, more sustainable growth in the city.

Could this be a blueprint for aging malls everywhere? What happens when an old shopping mall meets bold urban vision? In #Montreal’s east end, the iconic Place Versailles—once a cornerstone retail destination—is set for a $2.2 billion transformation. Over the next 25 years, the plan will replace the old mall with more than 5,000 housing units, including social housing, alongside new commercial spaces, a hotel, a school, and expansive parks. Sustainability is at the heart of the project, with green rooftops, ecological corridors, and rainwater management. This isn’t just about revitalizing a shopping center—it’s about reimagining urban landscapes for community, sustainability, and modern needs. Place Versailles could become a playbook for cities everywhere looking to repurpose aging retail spaces into vibrant, mixed-use #neighborhoods. https://lnkd.in/gYUjdvUx #UrbanDevelopment #SustainableCities #Montreal #RealEstate #MixedUse #AdaptiveReuse #Policy #CommunityPlanning #GreenInfrastructure #Cities #econdev

According to StreetEasy, a Zillow subsidiary, reports "U.S. Rents Soar 1.5 Times Faster Than Wages in Major Cities Over the Last Four Years, Straining Budgets". Why? This trend is driven by a dramatic demographic shift: North America's housing market is dominated by singles and couples without kids who strongly prefer to live (and work) in urban, mixed-use, and walkable environments. Think the downtowns and surrounding cores of major cities. And this dynamic will dominate housing markets for at least two more decades. Failing to respond to this dynamic is not just making life too expensive for millions of North Americans, it is also exacting another cost. A failure to attract and retain the increasingly scarce educated "talent" who in turn attract good jobs and investment--and spur economic opportunity for folks across the skills spectrum. Every city that lacks the housing in mixed-use, walkable places, that attract and retain this talent is underachieving in reaching its potential to enhance economic opportunity and slowing income growth for everyone. We need to build a new generation of mixed-income housing in our downtowns and close in urban neighborhoods. One more dividend? A boom in lively, walkalbe, urban Main Streets supported by nearby housing.

Malls have shifted from busy shopping centers to multifamily housing and community spaces. Remember hanging out at the food court or scouring the shelves at your favorite mall store? Now imagine that same space as your living room. Developers are transforming shopping malls into mixed-use communities that combine housing, retail, and lifestyle amenities. With retail habits shifting and the demand for affordable housing growing, malls are becoming prime locations for creative redevelopment. By integrating apartments and homes into these spaces, developers are revitalizing underused properties and catering to a new generation of residents looking for convenience and connection. The future of real estate is about more than just where we shop- it's about where we live, work, and play. Link to the article in comments.

🏙️ Did You Know? Suburban malls are being reborn—as walkable, livable, social hubs. Gone are the days of just anchor stores and food courts. From Paramus to Long Island, malls are adding: 🏘️ Housing & senior living 🏥 Medical offices 🎭 Outdoor town greens 🍽️ Dining, grocery & entertainment 🛍️ Open-air, lifestyle retail 💡 Case in point: Garden State Plaza is transforming into a full mixed-use district with 1,400+ apartments, senior housing, and a hotel—plus a transit center and public market space. This isn’t just a facelift—it's a fundamental rethinking of suburban space for how people live, shop, and connect. 📉 4.3M SF of retail space being removed 🏗️ 1.3M SF of new housing coming 💰 Malls slated for redevelopment are trading for as little as $104/SF Developers are leveraging large land parcels + community support to create modern town centers where people don’t just visit—they belong. #CRE #RetailTrends #MixedUse #Malls #SuburbanDevelopment #UrbanPlanning #ExperienceEconomy