Transforming Offices Into Residential and Lodging Properties
The transformation of an office building into a vibrant hotel isn’t anything new. Many of these spaces have been reimagined to offer modern amenities while preserving their architectural heritages. Join Brad Wellstead, a senior lecturer at Cornell’s SC Johnson College of Business, for a deeper dive into this phenomenon.
Cornell Keynotes · Brad Wellstead, Chris Wofford
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Show Notes
The trend of converting office buildings into hotels has become more popular as companies ditch their office spaces in favor of remote work. Places like New York City, Washington D.C. and Calgary are even offering incentive programs to draw more interest. A perfect example is the former headquarters of the New York Daily News in Manhattan’s Financial District; in the U.S.’s largest conversion, it now houses 1,300 luxury condos.
Brad Wellstead, a senior lecturer at Cornell’s SC Johnson College of Business, helps us understand the process of turning these old buildings into new real estate as well as some of the main pitfalls that developers face.
What You'll Learn
- The incentives behind renovating office spaces into hotel and luxury spaces
- Why there are so many available offices spaces and who is buying them
- The cities that are being affected most by these types of renovations
- Why these office spaces are the perfect places to renovate into hotel rooms
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