Behind the Facade: The Feasibility of Converting Commercial Real Estate to Multifamily

Webinar Summary: High housing demand, along with a surplus of obsolete commercial property, has led to interest in the possibility of commercial to multifamily conversions. To what extent are such conversions feasible? And how can they be accomplished? ULI and NMHC's Research Foundation investigated this question by interviewing developers who have recently completed conversions, providing detailed profiles of successful conversions across the United States to either for-rent or for-sale residential: What obstacles did the developers encounter, and how were they overcome? What design and engineering solutions were employed? How did the deals pencil out? What were their lessons learned? Would they take on more conversion projects? Can cities encourage more conversions? How? Hear directly from developers about their experiences, challenges and successes, and hear from a city’s perspective about their experience with multiple conversions in their jurisdiction.