No Cap by CRE Daily Is Converting Old Offices into Apartments THE BEST Solution to Housing Shortages?
Feb 9, 2025
In this conversation, Anoop Dave, co-founder of Victrix Investment, shares his expertise in transforming old office spaces into vibrant residential communities. He discusses the rising trend of adaptive reuse as a solution to housing shortages, shedding light on the civic support needed and the federal government's role. Anoop also addresses the challenges of converting offices in urban areas like NYC, highlighting success stories and the financial hurdles developers face, all while emphasizing the long-term benefits of such projects for communities.
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Early Adaptive Reuse Projects
- Victrix Investment co-founders Anoop Dave and Tim Gordon's first adaptive reuse projects were in Maryland and Kansas City.
- At the time, adaptive reuse was a niche strategy, not a widely recognized term.
Adaptive Reuse vs. Ground-Up Development
- Adaptive reuse is more complex than ground-up development, requiring flexibility and experience.
- Every project is unique, with varying building conditions and systems, demanding a non-linear approach.
Gaining Civic Support
- Secure civic support for adaptive reuse projects, as cities play a crucial role in their success.
- Align your projects with community goals, addressing housing shortages and revitalizing downtowns.