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Our Industry
Colorado Real Estate Journal tapped Mike Hockett to share his insights on the challenges in transforming office spaces into residential retreats.
Mike Hockett (Executive Vice President of Client and Project Development) has been featured in the February issue of the Colorado Real Estate Journal. His insightful article, “Five Common Challenges with Office to Residential Conversions,” delves into the intricate process of converting high-rise office buildings into vibrant residential spaces.
As urban landscapes evolve, transforming office structures into livable homes is vital for revitalizing city centers. However, this challenging process requires meticulous planning and execution. Mike highlights five key challenges faced in these conversions:
Mike discusses the potential benefits of these conversions, such as reduced construction costs and possible tax incentives. However, he stresses the importance of selecting the right building and assembling an experienced team to navigate these challenges effectively.
Not every office building is suitable for conversion, but those that are can achieve rapid market entry and value-added outcomes that new construction projects often cannot match. We are proud to have Mike’s expert insights featured in the Colorado Real Estate Journal and look forward to continuing to share our knowledge and experience in transforming urban landscapes. Head over to the Colorado Real Estate Journal for more: link