Writing · Real Estate (general)

2025-01-07
These demolitions aren’t a failure—they’re evolution. The suburban office boom of the ’90s, driven by cheap land and corporate hubris, has come full circle. Buildings that catered to cubicles and conferences now find themselves outdated by hybrid work and lifestyle preferences. What’s left? Land that’s more valuable without them. Cities face a tough choice: cling to commercial dreams or embrace residential realities. Either way, developers have found the Achilles’ heel of suburbia—bad zoning and empty parking lots. “We’re selling office buildings at high-density residential land value. I never thought that would happen. It’s crazy, tearing down buildings that cost $400 per SF to rebuild,” said Transwestern Senior Managing Director Kevin Markwordt. “There’s a demand for the housing. If these counties and municipalities agreed to residential, you’d see a whole bunch get torn down. They wouldn't blink an eye. They’d tear the building down and put a townhouse farm on it.” https://lnkd.in/etqi2x-W
Real Estate (general)

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