{"id":26126,"date":"2024-01-24T16:54:54","date_gmt":"2024-01-24T16:54:54","guid":{"rendered":"https:\/\/svn.com\/?p=26126"},"modified":"2025-12-17T14:32:40","modified_gmt":"2025-12-17T19:32:40","slug":"the-transforming-office","status":"publish","type":"post","link":"https:\/\/svn.com\/insights\/the-transforming-office\/","title":{"rendered":"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space"},"content":{"rendered":"\n<p><em>By Cameron Williams, Director of Research, SVN International Corp.<\/em><\/p>\n\n\n\n<p>Downtown office vacancies continue to climb, with a <strong>significant portion of the workforce operating remotely<\/strong>. The trend away from traditional office usage is reflected in a projection that office conversion projects are <strong>expected to more than double, driven by incentives from state and local governments<\/strong>.<\/p>\n\n\n\n<p>This shift comes as the conventional five-day office workweek is rendered obsolete, prompting a search for alternative uses for empty office spaces. While the White House has proposed a <strong>$35 billion initiative to transform these underutilized spaces into residential housing<\/strong>, aiming to create over 170,000 units, the question remains whether this approach is viable.<\/p>\n\n\n\n<p>Beyond residential conversion, <strong>innovative uses for this space are being considered, from multifamily housing to vertical farming and medical\/life science facilities<\/strong>, as we rethink how best to utilize the evolving urban fabric.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"888\" src=\"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/WEBISTE-TEASER-1-1024x888.png\" alt=\"\" class=\"wp-image-26128\" style=\"width:1024px;height:auto\" srcset=\"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/WEBISTE-TEASER-1-1024x888.png 1024w, https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/WEBISTE-TEASER-1-300x260.png 300w, https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/WEBISTE-TEASER-1-768x666.png 768w, https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/WEBISTE-TEASER-1.png 1080w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/Office-Conversion-Report-revert.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">DOWNLOAD THE FULL REPORT<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Cameron Williams, Director of Research, SVN International Corp. Downtown office vacancies continue to climb, with a significant portion of the workforce operating remotely. The trend away from traditional office usage is reflected in a projection that office conversion projects are expected to more than double, driven by incentives from state and local governments. This [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":26131,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[722,648,976],"tags":[19,33,36,133],"class_list":["post-26126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-outlook","category-office-industry-outlook","category-svn-research","tag-commercial-real-estate","tag-cre","tag-svn","tag-svnic"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space - SVN\u00ae Commercial Real Estate News &amp; Insights - Commercial Real Estate Advisors \u2014 SVN\u00ae International Public Benefit Corporation<\/title>\n<meta name=\"description\" content=\"Stay up-to-date with the latest commercial real estate news and insights from SVN\u00ae International. View our insight into The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space. See whats happening in CRE today.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/svn.com\/insights\/the-transforming-office\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space - SVN\u00ae Commercial Real Estate News &amp; Insights - Commercial Real Estate Advisors \u2014 SVN\u00ae International Public Benefit Corporation\" \/>\n<meta property=\"og:description\" content=\"Stay up-to-date with the latest commercial real estate news and insights from SVN\u00ae International. View our insight into The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space. See whats happening in CRE today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/svn.com\/insights\/the-transforming-office\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Real Estate Advisors \u2014 SVN\u00ae International Public Benefit Corporation\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SVNIC\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-24T16:54:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-17T19:32:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"SVN Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@svnic\" \/>\n<meta name=\"twitter:site\" content=\"@svnic\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"SVN Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/\"},\"author\":{\"name\":\"SVN Staff\",\"@id\":\"https:\/\/svn.com\/#\/schema\/person\/acc93e0b7ba4ce1e6e18acf9ec9c4248\"},\"headline\":\"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space\",\"datePublished\":\"2024-01-24T16:54:54+00:00\",\"dateModified\":\"2025-12-17T19:32:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/\"},\"wordCount\":156,\"publisher\":{\"@id\":\"https:\/\/svn.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png\",\"keywords\":[\"commercial real estate\",\"CRE\",\"svn\",\"SVNIC\"],\"articleSection\":[\"Industry Outlook\",\"Office\",\"SVN Research\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/\",\"url\":\"https:\/\/svn.com\/insights\/the-transforming-office\/\",\"name\":\"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space - SVN\u00ae Commercial Real Estate News & Insights - Commercial Real Estate Advisors \u2014 SVN\u00ae International Public Benefit Corporation\",\"isPartOf\":{\"@id\":\"https:\/\/svn.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png\",\"datePublished\":\"2024-01-24T16:54:54+00:00\",\"dateModified\":\"2025-12-17T19:32:40+00:00\",\"description\":\"Stay up-to-date with the latest commercial real estate news and insights from SVN\u00ae International. View our insight into The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space. See whats happening in CRE today.\",\"breadcrumb\":{\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/svn.com\/insights\/the-transforming-office\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/#primaryimage\",\"url\":\"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png\",\"contentUrl\":\"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png\",\"width\":1200,\"height\":630},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/svn.com\/insights\/the-transforming-office\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/svn.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/svn.com\/#website\",\"url\":\"https:\/\/svn.com\/\",\"name\":\"SVN\u00ae International Public Benefit Corporation\",\"description\":\"Commercial Real Estate Advisors\",\"publisher\":{\"@id\":\"https:\/\/svn.com\/#organization\"},\"alternateName\":\"Commercial Real Estate Advisors\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/svn.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/svn.com\/#organization\",\"name\":\"SVN International\",\"alternateName\":\"Commercial Real Estate Advisors\",\"url\":\"https:\/\/svn.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/svn.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/svn.com\/wp-content\/uploads\/2021\/10\/SVNLogo_Signatures-300x127-1.png\",\"contentUrl\":\"https:\/\/svn.com\/wp-content\/uploads\/2021\/10\/SVNLogo_Signatures-300x127-1.png\",\"width\":300,\"height\":127,\"caption\":\"SVN International\"},\"image\":{\"@id\":\"https:\/\/svn.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/SVNIC\",\"https:\/\/x.com\/svnic\",\"https:\/\/www.instagram.com\/svninternationalcorp\/\",\"https:\/\/www.linkedin.com\/company\/svnic\/\",\"https:\/\/www.youtube.com\/user\/SVNICorp\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/svn.com\/#\/schema\/person\/acc93e0b7ba4ce1e6e18acf9ec9c4248\",\"name\":\"SVN Staff\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/svn.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/8995499ff0e55355bb5779f7bb3b3edd4dd611395550fe85d129371a4609c0ae?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/8995499ff0e55355bb5779f7bb3b3edd4dd611395550fe85d129371a4609c0ae?s=96&d=mm&r=g\",\"caption\":\"SVN Staff\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space - SVN\u00ae Commercial Real Estate News & Insights - Commercial Real Estate Advisors \u2014 SVN\u00ae International Public Benefit Corporation","description":"Stay up-to-date with the latest commercial real estate news and insights from SVN\u00ae International. View our insight into The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space. See whats happening in CRE today.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/svn.com\/insights\/the-transforming-office\/","og_locale":"en_US","og_type":"article","og_title":"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space - SVN\u00ae Commercial Real Estate News & Insights - Commercial Real Estate Advisors \u2014 SVN\u00ae International Public Benefit Corporation","og_description":"Stay up-to-date with the latest commercial real estate news and insights from SVN\u00ae International. View our insight into The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space. See whats happening in CRE today.","og_url":"https:\/\/svn.com\/insights\/the-transforming-office\/","og_site_name":"Commercial Real Estate Advisors \u2014 SVN\u00ae International Public Benefit Corporation","article_publisher":"https:\/\/www.facebook.com\/SVNIC","article_published_time":"2024-01-24T16:54:54+00:00","article_modified_time":"2025-12-17T19:32:40+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png","type":"image\/png"}],"author":"SVN Staff","twitter_card":"summary_large_image","twitter_creator":"@svnic","twitter_site":"@svnic","twitter_misc":{"Written by":"SVN Staff","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/svn.com\/insights\/the-transforming-office\/#article","isPartOf":{"@id":"https:\/\/svn.com\/insights\/the-transforming-office\/"},"author":{"name":"SVN Staff","@id":"https:\/\/svn.com\/#\/schema\/person\/acc93e0b7ba4ce1e6e18acf9ec9c4248"},"headline":"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space","datePublished":"2024-01-24T16:54:54+00:00","dateModified":"2025-12-17T19:32:40+00:00","mainEntityOfPage":{"@id":"https:\/\/svn.com\/insights\/the-transforming-office\/"},"wordCount":156,"publisher":{"@id":"https:\/\/svn.com\/#organization"},"image":{"@id":"https:\/\/svn.com\/insights\/the-transforming-office\/#primaryimage"},"thumbnailUrl":"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png","keywords":["commercial real estate","CRE","svn","SVNIC"],"articleSection":["Industry Outlook","Office","SVN Research"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/svn.com\/insights\/the-transforming-office\/","url":"https:\/\/svn.com\/insights\/the-transforming-office\/","name":"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space - SVN\u00ae Commercial Real Estate News & Insights - Commercial Real Estate Advisors \u2014 SVN\u00ae International Public Benefit Corporation","isPartOf":{"@id":"https:\/\/svn.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/svn.com\/insights\/the-transforming-office\/#primaryimage"},"image":{"@id":"https:\/\/svn.com\/insights\/the-transforming-office\/#primaryimage"},"thumbnailUrl":"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png","datePublished":"2024-01-24T16:54:54+00:00","dateModified":"2025-12-17T19:32:40+00:00","description":"Stay up-to-date with the latest commercial real estate news and insights from SVN\u00ae International. View our insight into The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space. See whats happening in CRE today.","breadcrumb":{"@id":"https:\/\/svn.com\/insights\/the-transforming-office\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/svn.com\/insights\/the-transforming-office\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/svn.com\/insights\/the-transforming-office\/#primaryimage","url":"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png","contentUrl":"https:\/\/svn.com\/wp-content\/uploads\/2024\/01\/FB-WEBSITE-HEADER-1.png","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/svn.com\/insights\/the-transforming-office\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/svn.com\/"},{"@type":"ListItem","position":2,"name":"The Transforming Office | Rethinking Vacant Downtown Offices: A Creative Approach to Repurposing Space"}]},{"@type":"WebSite","@id":"https:\/\/svn.com\/#website","url":"https:\/\/svn.com\/","name":"SVN\u00ae International Public Benefit Corporation","description":"Commercial Real Estate Advisors","publisher":{"@id":"https:\/\/svn.com\/#organization"},"alternateName":"Commercial Real Estate Advisors","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/svn.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/svn.com\/#organization","name":"SVN International","alternateName":"Commercial Real Estate Advisors","url":"https:\/\/svn.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/svn.com\/#\/schema\/logo\/image\/","url":"https:\/\/svn.com\/wp-content\/uploads\/2021\/10\/SVNLogo_Signatures-300x127-1.png","contentUrl":"https:\/\/svn.com\/wp-content\/uploads\/2021\/10\/SVNLogo_Signatures-300x127-1.png","width":300,"height":127,"caption":"SVN International"},"image":{"@id":"https:\/\/svn.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/SVNIC","https:\/\/x.com\/svnic","https:\/\/www.instagram.com\/svninternationalcorp\/","https:\/\/www.linkedin.com\/company\/svnic\/","https:\/\/www.youtube.com\/user\/SVNICorp"]},{"@type":"Person","@id":"https:\/\/svn.com\/#\/schema\/person\/acc93e0b7ba4ce1e6e18acf9ec9c4248","name":"SVN Staff","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/svn.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/8995499ff0e55355bb5779f7bb3b3edd4dd611395550fe85d129371a4609c0ae?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8995499ff0e55355bb5779f7bb3b3edd4dd611395550fe85d129371a4609c0ae?s=96&d=mm&r=g","caption":"SVN Staff"}}]}},"_links":{"self":[{"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/posts\/26126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/comments?post=26126"}],"version-history":[{"count":2,"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/posts\/26126\/revisions"}],"predecessor-version":[{"id":27163,"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/posts\/26126\/revisions\/27163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/media\/26131"}],"wp:attachment":[{"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/media?parent=26126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/categories?post=26126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/svn.com\/wp-json\/wp\/v2\/tags?post=26126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}