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I have no idea whether it will be converted. My point was that your list may be optimistic. A property owner deciding that an office building is worth more by marketing it as residential doesn't necessarily make it an active conversion.
True, they can also hand the keys back to their lender if a deal doesn't happen so a redevelopment makes more sense financially. That's what happened here. Keys were handed back last year.
That building is now being converted to residential (announced on 9/11/2023).
Quote:
Originally Posted by MDAllstar
Checked in to see how many downtown DC office-to-residential conversions had been added since I last posted about it. There are 17 active projects right now in various stages of development from design to construction. I also listed another development that isn't a conversion for a total of 18 projects.
Running Tally of Office-to-Residential Conversions in Downtown DC
Manhattan
Chicago
San Francisco
Washington
Philadelphia
Boston
San Diego
Brooklyn
Seattle
Portland Or
shoutouts to Miami, Detroit and Savannah though.
This list seems reasonable.
Although I have a tough time ranking Downtown DC above Philly, Boston and probably even Seattle. They just seem to have a lot more architectural character and street level activity than downtown DC. It's harder to compare against smaller cities like SD and Portland. But, at least in SDs case they seem to have more mixed use downtown. Hard to say with Portland given it's troubles in recent years.
This list seems reasonable.
Although I have a tough time ranking Downtown DC above Philly, Boston and probably even Seattle. They just seem to have a lot more architectural character and street level activity than downtown DC. It's harder to compare against smaller cities like SD and Portland. But, at least in SDs case they seem to have more mixed use downtown. Hard to say with Portland given it's troubles in recent years.
Over the summer I spent a lot of time in Philly and DC, so I had to think hard on that one. Thinking about it now, you're right because I'm associating a lot of areas with downtown DC that are NOT downtown after a second thought. I'm talking the ballpark and Wharf areas of the city. Those are entirely new/repurposed districts. Downtown Philly has always been impressive, and I finally got to hit up that giant market and checkout their waterfront. That city is legendary.
I was hoping that the socioeconomic meltdown of Portland didn't affect downtown too much, but I've heard that it isn't getting any better. Shame, because that is one beautiful city.
People don’t really understand the degree of drop off between say Seattle or maybe LA and everyone else. It’s massive.
SF can crash and burn to a small fraction of what is was, and it’s drop to maybe 7 or 8.
Most likely it wouldn’t drop below 6. As there is a pretty big gap between DC and Seattle.
NY, Chi, SF/Bos/Philly/DC Seattle LA are the top 8 and the only ones really capable of being dislodged by one another are SF/Philly/Bos/DC at least in the next ~decade. Seattle is growing at a bonkers rate
LA has tremendous potential it’s more about the state than the physical density of infrastructure imo.
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