California is witnessing a significant trend in converting unused office spaces into dwelling units, but San Francisco remains an exception. With major buildings like the Wells Fargo headquarters and federal office towers up for sale, potential for repurposing exists. Despite companies urging employees back to offices, many workers prefer remote home setups, contributing to high levels of resignation and forcing executives to adopt more flexible policies. Nationwide, apartment conversions are surging, with record numbers indicating strong demand for such housing alternatives.
"Conversions of millions of square feet of unused office space to dwelling units are starting to take off all around California, except in San Francisco, where it’s likely to change soon."
"The office space conversion bandwagon appears to be gaining speed nationally, with a record of 70,700 apartments converted last year, up significantly from 20,000 the previous year."
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