Our building analysis tool can quickly determine if an underused office building is a candidate for residential conversion.
CONTACT US FOR DETAILS
Underused office buildings everywhere are on the verge of default.
About 60% of office inventory today is categorized as Class B, and much of this inventory is being left stranded as tenants seek out modern fully-amenitized Class A buildings. As demand for office space continues to lag, owners of these older assets are faced with difficult choices. What if they could be rescued and turned into valuable in-demand housing?
Conversions+ by Gensler helps developers determine if buildings are viable for residential conversion.
The tool examines site context, building form, floor plate, building envelope, and servicing to create quick, actionable conclusions about the viability of a building for conversion.
10%
Site Context
30%
Building Form
30%
Floor Plate
10%
Envelope
20%
Servicing
- Scoring takes a matter of days.
- We’ve analyzed more than 1,300 buildings in 130 cities.
- 30% of buildings will be suitable for conversion.
- The construction period for conversions is 50% less than equivalent ground-up buildings.
Our 3-step building conversion process is designed to be quick, efficient, and cost-effective.
STEP
1
Building Analysis
Conversion+ by Gensler unlocks new potential for stranded assets of all types.
STEP
2
Yield Studies
Buildings with a high algorithm score are developed further to provide sufficient information for a business case.
STEP
3
Development
The best opportunities are taken into full development to create incredible new housing.
FAQs
CASE STUDIES
Pearl House (160 Water Street)
New York, New York
Vanbarton Group engaged Gensler to convert its downtown office building into a premier residential building to introduce new housing to New York City.
April 30, 2024
The Residences at Rivermark
Baton Rouge, Louisiana
The Residences at Rivermark is a transformative project in the beating heart of downtown Baton Rouge’s growing and dynamic cultural scene.
October 01, 2023
1 St. Clair West
Toronto, Ontario
After determining that demolishing 1 St. Clair West was not viable, Slate Asset Management enlisted Gensler to reposition it as a mixed-use development.
December 31, 2026
Franklin Tower
Philadelphia, Pennsylvania
PMC Property Group transformed a vacant, outdated office building in Logan Square into an amenity-rich residential building with ample outdoor and retail space.
September 14, 2020
LEADERSHIP
Steven Paynter
Building Transformation & Adaptive Reuse Leader, Principal
Embodying the philosophy that diversity fosters innovation, Steven is widely recognized as an industry leader and an invaluable resource for market expertise to developers...
Robert Fuller
Residential Leader, Studio Director, Principal
Robert is a global leader of Gensler’s Residential practice area. With a background in architectural design, as well as city and regional planning, Robert leads a studio in the...
Harry Cliffe-Roberts
Studio Director, Practice Area Community Leader, Principal
Harry is an architect with a vision for design and innovation at all scales — a drive that he applies in his role as Studio Director in Gensler’s London office and Practice Area...
Duanne Render
Building Transformation & Adaptive Reuse Leader, Design Manager
Duanne’s leadership has been instrumental in establishing Gensler’s expertise in office-to-residential conversions. He has driven the analysis of hundreds of buildings for...
John Badman
Residential Leader
John is a Residential Leader for Gensler’s Europe region, who is driven by a passion for making the home an integrated part of wider mixed-use neighbourhoods throughout our towns...
RESOURCES
HUD Awarded Gensler Funding To Study the Impact of Office Conversions at Scale
HUD announced it awarded Gensler funding to study six major cities to understand the impact of office conversions at scale, including how they can address the housing crisis and create vibrancy in our cities.
U.S. Department of Housing and Urban Development
February 23, 2024
Forbes Explored Ideas To Deliver Much Needed Housing in Urban Areas, From Office Conversions to Co-Living Concepts
The article featured Gensler’s Conversions+ solution and noted the firm is currently transforming over 3.7 million square feet of real estate in New York City to add more than 4,800 housing units.
Forbes
November 04, 2024
The Real Deal Profiled Gensler’s Office-to-Residential Conversions and Building Analysis Tool
The feature highlights Pearl House, Franklin Tower, the upcoming conversion of Pfizer’s former headquarters, and Gensler’s scorecard developed during a study for the City of Calgary.
The Real Deal
September 03, 2024
Pfizer’s Former Headquarters Redevelopment Will Be New York’s Largest Office-to-Residential Project
CoStar highlighted office conversion activity, including Gensler-led conversions. Gensler is the architect for the redevelopment of Pfizer’s former headquarters near Grand Central Terminal.
CoStar
August 23, 2024
i+s Featured a Video Tour of Gensler’s Office-to-Residential Conversion of Pearl House
The project “offers a realized example of how to transform an underutilized office building into a thriving residential community that positively impacts its surrounding neighborhood” in New York City's Financial District.
i+s
July 11, 2024
Pearl House: Explore the Transformation of New York’s Largest Office-to-Residential Conversion to Date
Gensler and Vanbarton Group detail how they partnered to convert a 1970s office tower into a thriving residential community in New York’s Financial District.
June 12, 2024
|
What We’ve Learned by Assessing More Than 1,300 Potential Office-to-Residential Conversions
We’ve developed a process for evaluating existing office buildings to determine if they are candidates for multifamily residential conversions.
October 23, 2023
|
Gensler, One of Fast Company’s Most Innovative Companies of 2024, Devised an Office-to-Residential Conversion Algorithm
Building Transformation Leader Steven Paynter explained how the algorithm enables the firm to evaluate 150 aspects of a building’s layout and design to expedite the assessment process.
Fast Company
March 19, 2024
Office-to-Residential Conversion: A New Value Proposition for the German Market
This adaptive reuse strategy represents a value proposition that could help the country meet housing demand and achieve decarbonisation goals.
July 02, 2024
|
Gensler’s Analysis Found Nearly Half of Federal Government Office Spaces Are Suitable for Conversion
Gensler Building Transformation Leader Steven Paynter explained why converting into housing is the best option for federal buildings.
The Globe and Mail
June 03, 2024
Gensler Transformed a 1970s Office Building Into Pearl House, a “Hip New Rental” Property in Lower Manhattan
Working with developer Vanbarton Group, Gensler created a design that respects “the bones of the building” while infusing amenities, bedrooms, and living spaces with “more of a residential hospitality feel.”
The New York Times
May 03, 2024
Office-to-Residential Conversions: Mandates, Myths, and Possibilities
Experts weigh the opportunities, myths, and challenges of converting increasingly vacant office buildings into much needed housing.
September 12, 2023
Pearl House Marks the Largest Office-to-Residential Conversion in NYC
Spectrum News NY1 spotlighted Pearl House, featuring interviews with Gensler Principal Robert Fuller and Richard Coles, Founder of the Vanbarton Group. Watch the video.
Spectrum News NY1
January 30, 2024
Unlocking Hidden Value: How Cities and Developers Are Partnering to Turn Vacant Offices into Residential
Vacant office spaces are a burden for cities and developers. Here’s how to convert vacant office buildings into new housing.
January 31, 2023
|
The Challenges Developers Face in Converting Empty Offices Into Apartments
The Wall Street Journal quoted Gensler Building Transformation & Adaptive Reuse Leader Steven Paynter about challenges such as higher interest rates and long approval times for permits.
The Wall Street Journal
November 06, 2023
How U.S. Cities Are Converting Underperforming Office Buildings To Address Housing Shortages
Steven Paynter discussed how Gensler is assessing building conversions and our work at 160 Water Street, which will add nearly 600 apartments in Manhattan.
PBS NewsHour
August 08, 2023
From Pilots to Policy: Exploring Office-to-Residential Conversions in Boston
There are clear steps that can be taken to address the housing shortage, and we believe there is huge opportunity in office-to-residential conversion.
July 19, 2023
|
How Office-to-Residential Conversions Could Revitalize Downtown San Francisco
One of the easiest ways to create diversity in office-centric downtowns is to convert existing office buildings to other uses. Residential is an obvious choice.
February 16, 2023
|
The Latest Developments in Office-to-Residential Conversions in Boston
Gensler Principal Todd Dundon shared how Boston’s pilot program offers tax breaks for conversion projects and why it’s “a step in making office conversions economically viable.”
The Boston Globe
November 06, 2023
The Benefits of Converting Class C Office Into First Class Residential
In order to future-proof older buildings, clients need to make buildings more energy efficient, more resilient, and more vibrant to attract and retain tenants and talent.
June 14, 2021
|
Factors Impacting the Profitability of Office-to-Residential Conversions
As Houston considers tax incentives to spur office conversions, Senior Living Leader Brooks Howell and Residential Leader Kelly Farrell discussed how developers need to balance project costs with expected revenue.
Houston Chronicle
February 19, 2024
Interested in office-to-residential conversion?