California Is Showing The Potential Of Strip Mall-To-Housing Conversions
State and local jurisdictions are desperately looking for new ways to speed up affordable housing development as the supply of homes falls short of demand nearly everywhere in the U.S. This fall, the Biden-Harris administration announced new resources to support commercial conversions to create affordable housing.
While much of the focus is on office conversions, an idea that swept the nation as millions of Americans transitioned to remote work, relatively few office buildings are physically suitable for conversion. The costs can be incredibly high and the surrounding neighborhoods, often in business districts, are not necessarily conducive to new housing and the needs of residents.