Article
California’s Office Vacancy Is a New Housing Opportunity
Commercial Observer
by Sheri L. Bonstelle
Real Estate Partner and Chair of the Land Use & Development Practice, Sheri Bonstelle, authored "California’s Office Vacancy Is a New Housing Opportunity" in Commercial Observer. The piece examines how California's wave of post-COVID office vacancies has created a legislative opening to address the state's housing crisis through office-to-residential conversion.
Excerpt:
In the post-COVID era, California cities have debilitating office vacancies — more than 30 percent in San Francisco and 25 percent in Downtown Los Angeles. In response, the California legislature took decisive action to preserve these urban areas and address the state’s housing crisis at the same time.
