Housing advocates worry that the affordable housing requirements could get watered down. “Our job is to make sure that we are getting more people downtown.”īut the conversion push has some skeptics. “We’re not going to have as many workers downtown as we had before the pandemic,” Bowser said earlier this year. But the city needs another 6 million square feet converted to meet her goal of 15,000 new downtown residents. READ MORE: Restaurants experiment with subscription models to keep revenue flowingīowser’s administration says about 1 million square feet of downtown real estate is already transitioning from commercial to residential. Her “ comeback plan” for the capital city, announced earlier this year, seeks to add 15,000 new residents to the downtown area, adding to the approximately 25,000 who already live here. In the nation’s capital, Mayor Muriel Bowser has made office-to-housing conversions a cornerstone of her plan to repopulate and revitalize the district’s downtown. And Seattle launched a competition in April for downtown building owners and design firms to come up with conversion ideas. In January, Pittsburgh announced it was accepting proposals to produce more affordable housing through the “conversion of fallow and underutilized office space.” Boston released a plan in October aimed at revitalizing downtown that included a push for more housing, some of which would come from office conversions. Multiple cities are offering serious tax breaks for developers to incentivize office-to-housing conversions - provided that a certain percentage of apartments are offered at affordable below-market prices. The conversion push is marked by an emphasis on affordability. “We’re taking a vacant building and pouring life not only into this building, but this entire neighborhood,” said Joey Chilelli, managing director of real estate firm Vanbarton Group, which is doing the conversion.Īcross the country, office-to-housing conversions are being pursued as a potential lifeline for struggling downtown business districts that emptied out during the coronavirus pandemic and may never fully recover. The building, empty since 2021, is being converted to 588 market-rate rental apartments that will house about 1,000 people. We are now able to talk to our vendors and residents in real-time.NEW YORK (AP) - On the 31st floor of what was once a towering office building in downtown Manhattan, construction workers lay down steel bracing for what will soon anchor a host of residential amenities: a catering station, lounge, fire pit and gas grills. Blais Case, Birdy Properties We've just switched our entire maintenance department over to Property Meld. My team is providing a better maintenance experience for all our clients. Thank you, Property Meld, for always listening to your clients! Garret Wong, President & Founder, Upper Edge Property Management Property Meld was the solution to all of our tenant requests, ticket times, vendor scheduling, job tracking, and much more. It also helps to be able to see the complete maintenance history – so if there is something that was repaired multiple times, it allows me to question the contractor for warranty issues. As a property owner myself, I can also appreciate the ease in which I can see messages I forgot to respond to or Melds waiting for my approval. Tim Wehner, Dodson Property Management The new Owner Hub is amazing. Our retention rate increased by 4% in 2017 saving us work and our client's money. " Greg Doering, GDAA Property Management We no longer have customers complaining about missed appointments or incomplete work which were our biggest complaints prior to implementing Property Meld. The improvement in communication, the transparency of the status of both make-readies and individual work orders allow owners to track progress and status on any issue regarding the maintenance of their properties. The reduction of calls and emails between the maintenance department and our owners was almost immediate.
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White and Company "The new Owner Hub is a real upgrade for our team and our owners.
This cuts down on uncomfortable conversations after the fact when the owner receives the invoice."Īndrew Coburn, Robert C. There is more transparency between the vendor, the tenant, and us - which has increased tenant satisfaction! Danielle Gallant, Guardian Realty “It is great to communicate with everyone in just one platform, and not have to be jumping around in other systems, which before was very frustrating.” Vanessa Rodriguez, Maintenance Manager / T-Square Properties “Owners now have the opportunity to raise their hand and say they want an estimate, or if they want more information about the repair. The vendors are more streamlined with communication.
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