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Re:Commercial property deals in the US are starting to pick ... by keiferski on Thursday February 15, 2024 @12:00AM (#39379293)
Only speaking from my personal travel experiences, not any hard data, but: I feel like this issue is nearly non-existent in places with mixed use zoning. If the office values go down in a place with equal amounts of housing, they are repurposed as new apartments. The problem is when the office architecture isn’t interchangeable with apartment architecture, which usually happens because certain areas are zoned as office-only.
Re:Commercial property deals in the US are starting to pick ... by makeitdouble on Thursday February 15, 2024 @12:10AM (#39379345)
There might be many issues with the gap in construction standards for offices and housings.

A very dumb one: windows are required for houses, where offices can get away with huge open spaces holding a central hub of indoor areas. It's still possible to convert to houses, but that makes for ridiculously small liveable areas compared to the whole floor surface.

Then plumbing, evacuation paths etc. can all be solved by throwing money at the problem, but that significantly raises the profitability line.

Re:Commercial property deals in the US are starting to pick ... by dboreham on Thursday February 15, 2024 @12:28AM (#39379437)
Charlie Munger enters the room (with no windows)..
Re:Commercial property deals in the US are starting to pick ... by marsissippi on Thursday February 15, 2024 @02:24AM (#39380004)
Re:Commercial property deals in the US are starting to pick ... by harha on Thursday February 15, 2024 @12:20AM (#39379391)
Or fixing the problem of bad regulation - you can always uplift living standards when money is cheap, right now there's a chance to operate more efficiently, rather than create more debt.

One idea would be to convert spaces to something competing with airbnb, with the added value of being near offices.

Re:Commercial property deals in the US are starting to pick ... by ugh123 on Thursday February 15, 2024 @12:41AM (#39379516)
Do you mean like capsule hotels in Tokyo?
Re:Commercial property deals in the US are starting to pick ... by keiferski on Thursday February 15, 2024 @01:17AM (#39379687)
It would be really interesting if capsule-style apartments were available in NYC/SF/etc. I would absolutely pay $300-$400 a month for a permanent (not nightly, like they are in Japan) capsule in Lower Manhattan.
Re:Commercial property deals in the US are starting to pick ... by andy_ppp on Thursday February 15, 2024 @02:20AM (#39379978)
Can you show me where you can get a capsule hotel for $10-13 per night? I have not seen this rate, you’d probably be looking as $25 per night minimum probably more. Most actually nice capsule hotels are a tourist attraction and are nearly as expensive as normal hotels.
Re:Commercial property deals in the US are starting to pick ... by keiferski on Thursday February 15, 2024 @02:26AM (#39380008)
I didn’t say it existed, I said it would be nice. I’m comparing it to current overinflated Manhattan housing prices, where a studio is approximately $2000-$3500 depending on the location. It doesn’t seem unreasonable to me that a minimal, efficient capsule residence could get down to $400 a month.

And monthly prices are always lower than hotel-style nightly rates, so that isn’t really relevant either.

Re:Commercial property deals in the US are starting to pick ... by csomar on Thursday February 15, 2024 @03:22AM (#39380305)
Not a capsule hotel but your very own room (also Osaka not Tokyo) $9/night: https://www.booking.com/Share-IONY8u
Re:Commercial property deals in the US are starting to pick ... by ugh123 on Thursday February 15, 2024 @03:57PM (#39388725)
Wow, those rooms are passable for that cheap, although clearly on the grimy side. I don't know how this place keeps from turning into a brothel.
Re:Commercial property deals in the US are starting to pick ... by nox101 on Thursday February 15, 2024 @12:59AM (#39379602)
How about just regular apartments in Tokyo/Seoul/HK? Much much smaller than USA apartments.... Also much much cheaper, at least than NYC/SF/LA.
Re:Commercial property deals in the US are starting to pick ... by andy_ppp on Thursday February 15, 2024 @02:15AM (#39379953)
I think having the option of really small low quality accommodation in big cities is good, but let’s not pretend Tokyo/Seoul/HK aren’t just as expensive per sqft as NYC/SF/LA.
Re:Commercial property deals in the US are starting to pick ... by nox101 on Thursday February 15, 2024 @03:53AM (#39380481)
Checking online, the average price of an apartment in Santa Monica is $55 per square meter. SF is about $53. NYC is $65. Tokyo is about $27, Seoul is $23

So no, Tokyo and Seoul are not "just as expensive". HK is at $52 though so that was a bad choice on my part.

Re:Commercial property deals in the US are starting to pick ... by csomar on Thursday February 15, 2024 @03:24AM (#39380322)
They aren't more expensive. But besides real-estate, they are practical. You don't need a car; and an affordable 24H 7/11 is always downstairs. Also you can stay at the cheapest neighborhood and don't get stabbed; can't guarantee the same in NYC/LA/SF.
Re:Commercial property deals in the US are starting to pick ... by keiferski on Thursday February 15, 2024 @02:27AM (#39380022)
They aren’t as expensive per square foot. Sure, Tokyo apartments tend to be smaller, but they aren’t that much smaller. It’s more an efficient use of space than anything.

Hong Kong also isn’t comparable to Tokyo, and is much more expensive.

I can’t comment on Seoul.

Re:Commercial property deals in the US are starting to pick ... by harha on Thursday February 15, 2024 @02:58AM (#39380199)
Sort of - I’m thinking like a college dorm, it’s probably easier to install shared showers and kitchen (they might even already be there) - rather than individually per unit, along with some other useful shared spaces like libraries.
Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @01:05AM (#39379625)
> It's still possible to convert to houses, but that makes for ridiculously small liveable areas compared to the whole floor surface.

This is only a problem if it's prohibited by zoning. Otherwise it just gets reflected in the price.

Houses in the suburbs often contain a large amount of space with no windows, i.e. a basement the size of the entire first floor, and no one objects because it can be used for storage or a media room that doesn't want windows because of glare. In a multi-tenant building you also have the option to put shared facilities there, or rent the interior section of the floor to small shops while still converting the exterior to housing. But only if you don't have bad laws prohibiting such things.

Re:Commercial property deals in the US are starting to pick ... by makeitdouble on Thursday February 15, 2024 @02:49AM (#39380140)
> Otherwise it just gets reflected in the price

This is one of my nightmares. What if we allowed people to live in basically confinment cells and they have no choice as they're broke af or the gov or their companies assigns them one in a relocation program.

My gut feeling is that the social consequences would be subtle and easily overlooked by officials but widespread and long lasting.

> Houses in the suburbs often contain a large amount of space with no windows

Yes, it's on top of the wide livable areas though.

Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @03:14AM (#39380266)
> What if we allowed people to live in basically confinment cells and they have no choice as they're broke af or the gov or their companies assigns them one in a relocation program.

But they'd still have the same choice they have now. Pay more for something better. Right now their choice is to pay more, potentially sacrificing something even worse, or to be homeless. Presumably the small living space is better than homelessness, right? And if it somehow wasn't, the latter would still be available, which is what happens now.

> My gut feeling is that the social consequences would be subtle and easily overlooked by officials but widespread and long lasting.

It has the potential to do the opposite. It makes low cost housing available (even if it sucks), which provides a backstop against high rents because people won't pay an extra $3000/month just for access to a window. But then the high rents go away and with them the incentive to constrain new construction, and then we can build more apartments that actually have windows.

Then the windowless space gets converted back into storage or something as long as better housing isn't forced into scarcity, but if it is then that space goes back into service suppressing high rents.

> Yes, it's on top of the wide livable areas though.

And so is the part of the office building on the exterior where there is a window.

Re:Commercial property deals in the US are starting to pick ... by rightbyte on Thursday February 15, 2024 @05:28AM (#39381053)
> But they'd still have the same choice they have now. Pay more for something better.

It doesn't work like that. With cheap cells the low wages will adjust since some people are prepared to live in those, underbidding people that want to be able to see the sun in a race to the bottom.

Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @12:37PM (#39385599)
> With cheap cells the low wages will adjust since some people are prepared to live in those, underbidding people that want to be able to see the sun in a race to the bottom.

That isn't how wages work. They're set by the local supply and demand of labor.

By your logic there would be no point in making housing more affordable at all because employers would just lower wages.

Re:Commercial property deals in the US are starting to pick ... by makeitdouble on Thursday February 15, 2024 @08:18AM (#39382318)
> Right now their choice is to pay more, potentially sacrificing something even worse, or to be homeless

That logic doesn't work when the resident isn't paying the house, or not in full. A locality mandating housing is one example: if they go for the bare and cheapest minimum to fullfil an obligation for a specified number of houses, allowing for basement closets will result in more basement closets, without anyone being less homeless than they were before.

An employer providing rooms for employees is another. And there's so many more cases.

I see it the same way as minimum wages. Putting the bar too high is penalizing for everyone, but lowering it to the ground only breeds a hellscape.

> It has the potential to do the opposite.

But it's only a potential. And the other side is not hypothetical, it's what we had before the regulations, and it was bad enough that people agreed to put rules in place.

Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @12:51PM (#39385852)
> A locality mandating housing is one example: if they go for the bare and cheapest minimum to fullfil an obligation for a specified number of houses, allowing for basement closets will result in more basement closets, without anyone being less homeless than they were before.

The root problem here is that you're trying to mandate housing rather than adopting policies that allow market rate housing to be affordable. When there is demand for housing and no law prohibiting it, people build housing. You shouldn't have to mandate it unless you're already screwing it up to begin with.

But even if you were to mandate some specific construction, you could set minimum requirements for that without prohibiting someone else who is under no obligation to build anything from building something inexpensive without those requirements.

> An employer providing rooms for employees is another.

Which doesn't even happen in urban environments unless it's some kind of tax dodge and then it's being supplied to affluent employees who aren't going to live in a closet.

Can you name a single company that actually does this for low wage employees in e.g. New York City?

> I see it the same way as minimum wages. Putting the bar too high is penalizing for everyone, but lowering it to the ground only breeds a hellscape.

I see it the same way as minimum wages. A worthless policy that doesn't even solve the problem it's supposed to solve, often makes it worse, and would have no purpose or effect in the event that we solved it properly.

It's also not really even that debatable that we've set the bar too high for housing. Never mind requirements for windows, we have requirements for parking and, in many areas lawns that consume the majority of the lot which in itself can only have a building of a low maximum height.

> But it's only a potential.

It's not a hypothetical, it's a thing that happens in particular circumstances -- namely the undersupply of housing. If you can fix that then it wouldn't happen but you wouldn't need it to.

> And the other side is not hypothetical, it's what we had before the regulations, and it was bad enough that people agreed to put rules in place.

People put the rules in place to price the "undesirables" out of the area, not to help them out.

If you were trying to help them out you wouldn't prohibit the only housing they can afford, you would adopt policies that result in the creation of lots of new housing that causes the market price of a quality unit with lots of natural light to fall to the price they can afford.

Re:Commercial property deals in the US are starting to pick ... by mschuster91 on Thursday February 15, 2024 @03:55AM (#39380499)
> My gut feeling is that the social consequences would be subtle and easily overlooked by officials but widespread and long lasting.

Easily overlooked? Hell no. That would be part of the plan from the start: punish the undesirables for being poor, remind them of their low status in society every single day.

The requirement that rooms designated for living need adequate access to sunlight came out of the desire to eliminate such discrimination.

Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @04:02AM (#39380544)
> That would be part of the plan from the start: punish the undesirables for being poor, remind them of their low status in society every single day.

As opposed to now, when they have to live under an overpass because they can't afford rent?

> The requirement that rooms designated for living need adequate access to sunlight came out of the desire to eliminate such discrimination.

It came out of a desire to force "undesirables" out of the area by preventing them from being able to afford any of the housing there, along with all of the other requirements that amount to "housing the poorest can afford is not allowed here."

Re:Commercial property deals in the US are starting to pick ... by mschuster91 on Thursday February 15, 2024 @06:38AM (#39381523)
The solution to homeless people is to give them affordable, quality housing. Not to just move them from a shitty situation into one that's just marginally better.
Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @12:18PM (#39385350)
Let's suppose that we hypothetically make affordable, quality housing available. Then we still don't need rules prohibiting lower quality housing because nobody will choose it when higher quality housing is affordable, right?

The exception would be people who don't care, e.g. someone who works nights and doesn't want daylight in the place where they sleep while they're trying to sleep, and then all you're doing is depriving them of an opportunity to save money through their own circumstances.

The only reason a poor person in ordinary circumstances would choose lower quality housing is if we fail to provide affordable, quality housing, which is currently happening, and in that case if we also prohibit lower quality housing they end up under the overpass. So there is never any reason to prohibit it. Because you can't improve peoples' lives by removing alternatives, you have to create them -- they can themselves eliminate bad options by choosing better ones, but only if they're allowed to exist.

Re:Commercial property deals in the US are starting to pick ... by mschuster91 on Thursday February 15, 2024 @03:00PM (#39387826)
> The exception would be people who don't care, e.g. someone who works nights and doesn't want daylight in the place where they sleep while they're trying to sleep, and then all you're doing is depriving them of an opportunity to save money through their own circumstances.

Roller shutters, nothing easier than that. These things are standard in Germany.

> The only reason a poor person in ordinary circumstances would choose lower quality housing is if we fail to provide affordable, quality housing, which is currently happening, and in that case if we also prohibit lower quality housing they end up under the overpass. So there is never any reason to prohibit it. Because you can't improve peoples' lives by removing alternatives, you have to create them -- they can themselves eliminate bad options by choosing better ones, but only if they're allowed to exist.

The problem is slumlords. Allowing usage of unfit rooms (i.e. no/small windows, basement rooms) for permanent living once makes it very hard to force landlords to upgrade these rooms or condemn them later on, and in 40 years society will still be dealing with that fallout. Rooms without windows to escape are deadly fire traps, and basement rooms can be just as deadly (or at least destructive) in floods.

Whatever we create now will most likely outlive us, so we better do it right now instead of just kicking the can down the road for the next decades!

Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @04:38PM (#39389324)
> Roller shutters, nothing easier than that. These things are standard in Germany.

The problem is not that they can't figure out how to cover the window, the problem is that you're forcing them to pay extra for the window they're only going to cover up.

> The problem is slumlords.

Slumlords exist because housing supply is constrained. If good housing was affordable, nobody would take a trivial discount to live in a slum.

> Allowing usage of unfit rooms (i.e. no/small windows, basement rooms) for permanent living once makes it very hard to force landlords to upgrade these rooms or condemn them later on

The key is to force them through competition rather than zoning. Nobody wants to live in a crappy apartment but they will if it's the only thing available to them. Make something better affordable and the owner of the crappy apartment would have to improve it to find a tenant.

> Rooms without windows to escape are deadly fire traps, and basement rooms can be just as deadly (or at least destructive) in floods.

Rooms don't have to have windows to have fire exits. "Floods can destroy your stuff" hasn't prevented every suburban homeowner from keeping stuff in their basement, and it's not obvious how that's even relevant to residential tenants keeping their stuff in the interior section of an above-ground floor of a formerly commercial building.

> Whatever we create now will most likely outlive us, so we better do it right now instead of just kicking the can down the road for the next decades!

Buildings last a long time. What you use them for can change in a week. If you turn a commercial building into low-cost apartments during a housing shortage and then you later resolve the housing shortage by building higher quality apartments, you can turn it back into a commercial building, or whatever else is needed at the time.

The problem is when you're prohibited from converting it to the use which is currently in demand, and then rents are high and people are screwed because you took away a bad option and only left a worse one.

Re:Commercial property deals in the US are starting to pick ... by vkou on Thursday February 15, 2024 @03:49AM (#39380460)
> This is one of my nightmares. What if we allowed people to live in basically confinment cells and they have no choice as they're broke af or the gov or their companies assigns them one in a relocation program.

> My gut feeling is that the social consequences would be subtle and easily overlooked by officials but widespread and long lasting.

The social consequences of getting rid of tenements have been people sleeping in tents by the overpass. 7,000 of them in my town of 730,000. (Up from 5,000 three years ago.)

Maybe we should give tenements a try again? It's not like the overpass option is going to go anywhere.

Re:Commercial property deals in the US are starting to pick ... by Macha on Thursday February 15, 2024 @07:14AM (#39381761)
There was plenty of homelessness in the era of tenements too.
Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @01:14PM (#39386170)
If you have 1000 homeless and 2000 in tenements and then you ban the tenements and kick their former residents into the street, you have not done either of them a favor.
Re:Commercial property deals in the US are starting to pick ... by Macha on Thursday February 15, 2024 @05:43PM (#39390271)
However, we're not talking about a situation where tenements are allowed and now disallowing them (which I agree would cause a shock in the market, but probably disagree about how long term it is).

People who's lives are otherwise OK apart from an inability to afford housing tend to have support networks which provide them a better fallback option than living on the street, be that living with family, couch surfing, etc. Consequently, they tend not to get included in official homeless figures. The people who do get included in official homeless figures are going to have issues providing landlord the reassurances they need to rent to them, such as prior references, proof of employment, etc. etc. This is going to be true no matter how substandard the housing on the market is.

Instead, allowing tenement-tier housing is likely to lead to a reduction in supply of what is now the bottom tier, as landlords of that tier of property reorganise existing properties to cram more people in, reducing standards of living.

Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Friday February 16, 2024 @04:07AM (#39394806)
> People who's lives are otherwise OK apart from an inability to afford housing tend to have support networks which provide them a better fallback option than living on the street, be that living with family, couch surfing, etc.

That just means the problem is bigger than the official numbers suggest. And mooching off your friends and family often creates resentment and friction, which leaves those people at risk of falling into the other group as soon as they have a falling out unless you can get them into their own stable housing.

> The people who do get included in official homeless figures are going to have issues providing landlord the reassurances they need to rent to them, such as prior references, proof of employment, etc. etc. This is going to be true no matter how substandard the housing on the market is.

That's not true at all. Lower cost units require less in the way of references because the landlord has less at risk when the value of the unit is lower, and has more trouble finding someone who wants to live in it.

You can also reduce the prevalence of these requirements by not making it arduous for landlords to evict non-paying tenants, which is the primary reason they care about any of those things now.

> Instead, allowing tenement-tier housing is likely to lead to a reduction in supply of what is now the bottom tier, as landlords of that tier of property reorganize existing properties to cram more people in, reducing standards of living.

This is not a reduction in standard of living for the people who were previously homeless or the people who choose to live in those new units in exchange for lower rent. Having a smaller apartment in exchange for lower rent is not inherently a reduction in standard of living, and generally wouldn't be what someone chooses unless it isn't.

The people who want to pay the existing rents for the type of units they're in now would be free to do so, if not get those units at a lower rent because the tenements have increased the number of available housing units and relieved some of the demand pressure on existing units.

Re:Commercial property deals in the US are starting to pick ... by vkou on Thursday February 15, 2024 @01:43PM (#39386601)
And without them, there could have always been more.
Re:Commercial property deals in the US are starting to pick ... by Terr_ on Thursday February 15, 2024 @04:33AM (#39380714)
> assigns them one in a relocation program.

"Welcome. Welcome, to City 17. You have chosen--or been chosen--to relocate to one of our finest remaining urban centers. I thought so much of City 17, that I elected to establish my administration, here, in the citadel, so thoughtfully provided by our benefactors. I am proud to call City 17 my home. And so, whether you are here to stay, or passing through to parts unknown, welcome, to City 17. It's safer here."

'Course, that particular dystopia was terrible for a whole bunch of reasons where population density was not one of them.

Re:Commercial property deals in the US are starting to pick ... by brandall10 on Thursday February 15, 2024 @05:59AM (#39381273)
I've seen a number of these types of conversions in CA and NYC. They're usually sizable lofts, some with considerably more window area than others. The smaller units tend to go more deep than wide but they still have access to natural light in some part.
Re:Commercial property deals in the US are starting to pick ... by maxerickson on Thursday February 15, 2024 @06:56AM (#39381638)
So is your argument that we have to have bad regulation because if we don't, we might have bad regulation?
Re:Commercial property deals in the US are starting to pick ... by makeitdouble on Thursday February 15, 2024 @08:23AM (#39382377)
My argument is those buildings should be primarily used for something else.

Have some housing in the "good" parts, but use the rest another way.

Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @01:38PM (#39386531)
> Have some housing in the "good" parts, but use the rest another way.

This is the road to hell. Anyone can always come up with an excuse for why something shouldn't be done and if you accept them all then nothing ever gets built and people can't afford to live.

Construction requirements should be for things that are profoundly dangerous and not obvious, like having circuit breakers on electrical circuits or constructing buildings that are structurally sound or having fire exits.

Anybody can see how many windows or bathrooms a place has and you don't die if you get your natural light from going outside or occasionally have to wait in line for the facilities.

Re:Commercial property deals in the US are starting to pick ... by PlunderBunny on Thursday February 15, 2024 @02:14PM (#39387095)
Try searching for pictures/articles about "cage homes" or "coffin cubicles" in Hong Kong. The way the rental prices rise as soon as old-age pensions increase must be one of the most heartless things I've ever heard of.
Re:Commercial property deals in the US are starting to pick ... by zer00eyz on Thursday February 15, 2024 @05:28AM (#39381052)
>> This is only a problem if it's prohibited by zoning. Otherwise it just gets reflected in the price.

Depending on HOW the building was constructed (read: a large majority of office space), you will be unable to deal with the plumbing issues.

Total volume of water to every floor + distribution of the bathrooms (where they need to be moved in an updated floor plan) makes these sorts of change overs prohibitively expensive.

We have seen these sorts of transitions before! Large industrial spaces became "artists lofts". These were large spaces with single bathrooms (repurposed from the original plumbing installs). When these neighborhoods gentrified the very expensive conversions came in and made them into more "acceptable" living spaces. There was profit associated with that cost.

Rezoning wont result in gentrified apartments, or affordable housing any time soon!

Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @12:26PM (#39385450)
> Total volume of water to every floor + distribution of the bathrooms (where they need to be moved in an updated floor plan) makes these sorts of change overs prohibitively expensive.

You say "prohibitively expensive" while ignoring both of the alternatives where it isn't.

The first is dorm-style housing with shared bathrooms, and then you put the bathrooms where they are right now.

The second is upscale housing, and then you invest in the conversion because you're targeting tenants who can pay.

Either of these at scale increases the housing supply and thereby lowers rents for everybody.

Re:Commercial property deals in the US are starting to pick ... by zer00eyz on Thursday February 15, 2024 @01:51PM (#39386728)
> The first is dorm-style housing with shared bathrooms, and then you put the bathrooms where they are right now.

No one wants to live like this.

> The second is upscale housing, and then you invest in the conversion because you're targeting tenants who can pay.

But they have to want to live there. Creating high end housing can be a challenge.

> Either of these at scale increases the housing supply and thereby lowers rents for everybody.

Supply isnt at issue. The demographics of Air BnB and empty investments in the US is appalling. We have more than enough housing for people its just empty or unlivable (see NYC real estate not getting updates due to rent control)

Re:Commercial property deals in the US are starting to pick ... by AnthonyMouse on Thursday February 15, 2024 @04:11PM (#39388934)
> No one wants to live like this.

There is generally not a law requiring college students to live in dorms. They can go and rent an apartment off campus. Why do they choose to do it?

> But they have to want to live there. Creating high end housing can be a challenge.

That doesn't require you to prohibit someone from trying.

> Supply isnt at issue.

The measure of whether supply is an issue is the size of rents. If rents are high, supply is low relative to demand.

> The demographics of Air BnB and empty investments in the US is appalling.

There is nothing wrong with Air BnB if you don't have artificial constrains on increasing supply. And the reason speculators hold empty units is the expectation that prices will increase, which is due to the expectation that supply will remain constrained as the population increases, which would be alleviated in short order through the adoption of policies that can reasonably be expected to relieve supply constraints by allowing new construction.

> see NYC real estate not getting updates due to rent control

In other words rent control is a terrible policy that constrains supply, which is one of the rare issues where there is broad consensus among economists.

Re:Commercial property deals in the US are starting to pick ... by xnx on Thursday February 15, 2024 @04:05PM (#39388840)
> No one wants to live like this.

People (often recent graduates) pay a lot of money to live like this in NYC. The right price makes up for a lot of other deficiencies.

Re:Commercial property deals in the US are starting to pick ... by sandworm101 on Thursday February 15, 2024 @06:58AM (#39381656)
Bedrooms must have windows. That isnt "very dumb". That is based on centuries of knowledge. It is fire code. It is for comfort. It is for health. Some think it anachronistic only because few alive today have ever lived without it. But forgetting the reasons behind a rule does not make that rule unnecessary. And a rule isnt dumb simply because it decreases profit margins. All rules do.
Re:Commercial property deals in the US are starting to pick ... by makeitdouble on Thursday February 15, 2024 @08:03AM (#39382159)
Sorry, I didn't mean "dumb" as meaningless but as plain and basic. I enjoy my windows very much and don't wish to anyone to spend their indoor time without windows days and nights.

On the sister comment about windows on the 33th floor, those will still have a ton of benefit from an health perspective as a source of natural light (full spectrum), open view (can focus to infinity instead of a few meters away) and overall mental relief if there's no fear of height.

There's actually the same debate on access to sun, where construction code usually prohibit a taller building from 100% occulting the sun from surrounding houses.

Those could be compensated by some artificial mechanism, but would not be guaranted to work. Windows FTW.

Re:Commercial property deals in the US are starting to pick ... by lostemptations5 on Thursday February 15, 2024 @08:15AM (#39382277)
Lots of long term rentals have no window in Asia. Sure they're small and cheap-- but no need for bedrooms to "must" have windows.

And I've lived in them and they're fine. Forever no. For a few weeks or months on a budget sure.

"Must" have windows is simply a preference people have.

Re:Commercial property deals in the US are starting to pick ... by Retric on Thursday February 15, 2024 @07:08AM (#39381729)
Fire codes require multiple exists not specifically windows that can be used as exists. Which is why people can live on the 30+ floor of buildings without fire escapes. Many people prefer sleeping in rooms without windows or block up existing windows.

Historically, these regulations were created to exclude the poor from areas. They do line up with most peoples preferences, but many would rather save in rent vs have a window.

Re:Commercial property deals in the US are starting to pick ... by sandworm101 on Thursday February 15, 2024 @10:28AM (#39383820)
A window on the 30th floor certainly isn't an escape route but the requirement does still enforce certain standards that in turn promote fire safety. A window means that every bedroom must be on an exterior wall. That simple rule means one cannot build huge warren-like buildings filled with tiny interior apartments, which would be an evacuation nightmare. The rule also forbids bedrooms deep underground.

Yes, this does make apartments more expensive but so does every rule that sets a minimum construction standard.

Re:Commercial property deals in the US are starting to pick ... by Larrikin on Thursday February 15, 2024 @12:02PM (#39385145)
This isn't a rule everywhere. I have the largest and most windows I've ever had in an apartment and my bedroom is in the interior. I actually find it nice, no need for black out curtains, I can easily nap during the day.

My apartment is fitted with multiple sprinklers, which I assume gets it up to code.

Re:Commercial property deals in the US are starting to pick ... by sandworm101 on Thursday February 15, 2024 @03:46PM (#39388543)
Nor are fire escapes and sprinklers mandatory everywhere. Each local has its own standards but nobody should ever argue for a race to the bottom, that because some area doesn't do X that another area should follow that example just to lower costs.
Re:Commercial property deals in the US are starting to pick ... by Retric on Thursday February 15, 2024 @05:10PM (#39389835)
As long as you maintain safety, more options aren’t a race to the bottom. People take cruise vacations on indoor cabins without windows demonstrating it isn’t a problem for a significant percentage of the population.
Re:Commercial property deals in the US are starting to pick ... by paulsutter on Thursday February 15, 2024 @07:17AM (#39381784)
If a bedroom on the 33rd floor has sealed windows, what’s the rescue benefit or health benefit? (asking as a person who has lived in such a bedroom and sometimes slept in the closet to avoid noise and light)
Re:Commercial property deals in the US are starting to pick ... by zbrozek on Thursday February 15, 2024 @12:06AM (#39379324)
Some local councils around here want to make it a condition of approval that the first floor of mixed-use must remain commercial. Developers want it to be flexible because they can't predict future need. Constraints cost! Euclidean zoning is an unspeakably expensive economic blunder.
Re:Commercial property deals in the US are starting to pick ... by epistasis on Thursday February 15, 2024 @12:07AM (#39379329)
Urban Planning has to be one of the worst professions in the existence of humanity. We were all better off without urban planners, and everything they advocate for and enforce makes the world worse.
Re:Commercial property deals in the US are starting to pick ... by screye on Thursday February 15, 2024 @12:21AM (#39379397)
Modern urban planners oppose most of the dystopian development seen in the US. What you see here is the stakeholders getting what they want. (Which might not be what they need)

Only in this case, the stakeholders are other residents in the neighborhood...not prospective buyers.

Re:Commercial property deals in the US are starting to pick ... by epistasis on Thursday February 15, 2024 @12:40AM (#39379509)
Despite what they might oppose, as part of their profession they must uphold the determinations of the stakeholders.

The purpose of a system is what it does. The supposed opposition of planners, a completely ineffectual and meaningless opposition that has zero effect on any policy outcome, does not change the fact that planning as a profession ends up being this means to an end.

Re:Commercial property deals in the US are starting to pick ... by chongli on Thursday February 15, 2024 @03:14AM (#39380262)
Urban planners are people, not systems. Firefighters oppose fires and try to put them out, yet fires still happen. Would you say that the purpose of firefighting is to burn down houses?
Re:Commercial property deals in the US are starting to pick ... by epistasis on Thursday February 15, 2024 @12:07PM (#39385190)
The proper analogy here would be that the firefighters, despite personally opposing more fires, go out and set houses on fire because their profession requires them to do so.

The entire system is set up to produce worse outcomes, and the planners are the ones constructing and enabling the system.

Re:Commercial property deals in the US are starting to pick ... by chongli on Thursday February 15, 2024 @03:57PM (#39388718)
planners are the ones constructing and enabling the system

No, they aren't. The worst outcomes would happen regardless of whether or not planners were involved. The ones to blame are the vested stakeholders (homeowners and developers), not the planners working for the city trying to fix things.

You can see the whole thing play out (comedically) on the show Parks and Rec. Real life is just a drier, more cynical version of that story.

Re:Commercial property deals in the US are starting to pick ... by CamperBob2 on Thursday February 15, 2024 @12:42AM (#39379519)
No, modern urban planners basically want us all (except for them, of course) living in a modern Kowloon.
Re:Commercial property deals in the US are starting to pick ... by tmnvix on Thursday February 15, 2024 @01:45AM (#39379817)
At least in the US I assumed the opposite. Enormous setbacks, parking minimums to meet the busiest day of the year, extra wide lanes with no dangerous things like tree trunks alongside, etc.

It all looks like some cheap developer got away with something when in fact they know that old-style main streets are highly desirable and would build like that if the regulations allowed.

Re:Commercial property deals in the US are starting to pick ... by epistasis on Thursday February 15, 2024 @12:44AM (#39379533)
I actually want to live in a modern Kowloon, but the planners will not allow that, whatever their wishes, because they are the prison guards to a prison system. They must enforce what they are told, and at the same time wish to not take responsibility for their actions.
Re:Commercial property deals in the US are starting to pick ... by adrianN on Thursday February 15, 2024 @12:52AM (#39379574)
No they don't.
Re:Commercial property deals in the US are starting to pick ... by hackerlight on Thursday February 15, 2024 @01:42AM (#39379807)
It's the opposite. Urban planners have a vested interest in zoning because their career relies on it.

Also, the existence of Kowloon is a good thing. The people who live there would have worse lives if Kowloon was never allowed to build like that. They would be forced to live further away from their work, subjecting them to an hour a day on a cramped train, for example.

The wrong question: "Is X bad?". The right question: "Is X worse than the alternative if X wasn't allowed?".

Re:Commercial property deals in the US are starting to pick ... by candiodari on Thursday February 15, 2024 @03:09AM (#39380247)
This can result in a race to the bottom, is the argument against it. If we allowed people to live in "capsule hotels" for example.
Re:Commercial property deals in the US are starting to pick ... by thereisnospork on Thursday February 15, 2024 @04:21AM (#39380643)
The problem with the argument is that capsule apartments aren't the bottom - living on the street is.

So as a society we've skipped right past bad to horrid while clapping ourselves on the back as if we're doing the 'undesirables' a favor. Abhorrent.

Re:Commercial property deals in the US are starting to pick ... by ryandrake on Thursday February 15, 2024 @06:00AM (#39381276)
If capsule housing or cramped tenements were allowed, economics would push already-housed people down into them, rather than raise unhoused people up into them. Everything is a race to the bottom.

For example, let’s say the worst homes in your area legally allowed to be occupied are currently renting for $500/mo. Now capsule housing suddenly becomes legal. They’re not going to magically cost less. Landlords already know the poorest people will at least pay $500/mo, so the capsules will cost that, and the previous worst housing would rise to $750/mo or something.

Re:Commercial property deals in the US are starting to pick ... by adrianN on Thursday February 15, 2024 @07:35AM (#39381932)
Presumably supply would rise and competition would lower rents instead of raising them.
Re:Commercial property deals in the US are starting to pick ... by hackerlight on Thursday February 15, 2024 @06:20AM (#39381407)
Your conclusion rests on a likely false assumption that things remain expensive in a world where more housing isn't illegal. If capsule (and indeed, all) housing is no longer illegal, the price of everything falls. Regular one-bedroom unit rental will become affordable for the majority of people, so there will be no desire to downgrade to a capsule home. This is not Hong Kong where land is so scarce that even building vertically is insufficient to keep rents low.

A small number of people who have the lowest incomes will probably downgrade to capsule homes, instead of the status quo of living far away from their work. So they'll make a conscious decision to trade-off living space for a shorter commute, and who are you to tell them that's not in their best interest? Forced hour-long commutes is bad for people's wellbeing, which is what's happening in the status quo.

This discussion is a bit of a tangent because most housing proponents don't care if capsule homes are illegal. All they want is for normal units to not be illegal. That will get you 95% of the way there, capsule homes is nothing more than a theoretical curiosity outside of extremely dense countries like HK.

Re:Commercial property deals in the US are starting to pick ... by candiodari on Thursday February 15, 2024 @06:53AM (#39381616)
Yeah, sorry, but this argument totally stops making sense when you consider:

1) safety: obviously people would not be safe in capsule hotels. This cannot be changed, and would fundamentally alter society if it became popular

2) It applies to other forms of safety. Collapse safety? Why? It's cheaper without (and the state will have to pay most damages anyway). Medical safety (e.g. anti-mold regulation)? Why?

Such a policy will not drop prices, except the sticker price and will cause untold misery in society. We can discuss individual measures, perhaps, but not that a lot of these price increasing really contribute to society.

Re:Commercial property deals in the US are starting to pick ... by hackerlight on Thursday February 15, 2024 @07:36AM (#39381940)
I was talking purely about the economics, challenging the idea that rent would remain unchanged, and so everyone would want to downgrade to a capsule dwelling. This is not true. Rents will go down, and a lot of people that can't currently afford a 1 bedroom unit will now be able to afford one.

As a matter of policy, I am in favor of safety regulations. If that makes capsule dwellings illegal then so be it. We can solve the housing crisis without resorting to capsule dwellings.

Re:Commercial property deals in the US are starting to pick ... by danaris on Thursday February 15, 2024 @09:47AM (#39383281)
> The wrong question: "Is X bad?". The right question: "Is X worse than the alternative if X wasn't allowed?".

While you're not wrong in many cases, you do have to be careful with making this sort of rubric your universal rule. It can trap you in a local maximum that is vastly inferior to what things could be if you acknowledged that and were willing and able to accept the temporary reduction in quality to move to what is, objectively a better situation.

Re:Commercial property deals in the US are starting to pick ... by breather on Thursday February 15, 2024 @12:39AM (#39379500)
Funny, I feel the same way about developers. Urban planners tend to hate them too.
Re:Commercial property deals in the US are starting to pick ... by epistasis on Thursday February 15, 2024 @12:43AM (#39379525)
Developers built everything, existed long before planners ever did, and despite their greed and avarice, actually produce things that people want, and live in.

Planners can claim none of this. They have complete control over the developers, but tend to make the outcomes worse both for the people buying homes. No matter the intention of the developer or the planner, the planner has made things worse and the developer better.

Re:Commercial property deals in the US are starting to pick ... by breather on Thursday February 15, 2024 @12:47AM (#39379551)
> Developers built everything,

Well, no, this is just straight-up not true, that's just a description of recent american history.

Re:Commercial property deals in the US are starting to pick ... by epistasis on Thursday February 15, 2024 @12:52AM (#39379577)
You must have some weird definition of "developer" then, something that's not compatible with what I'm talking about.

Who built all the brownstones in New York, for example? Today, they'd be called developers. What is your definition?

Re:Commercial property deals in the US are starting to pick ... by breather on Thursday February 15, 2024 @01:43AM (#39379813)
Again, american cities are a small fraction of the world.
Re:Commercial property deals in the US are starting to pick ... by chii on Thursday February 15, 2024 @06:51AM (#39381607)
So other than naturally formed caves, everything else is built by, you guessed it, developers. It's just an umberalla term - you might call it builders in some other parts of the world.
Re:Commercial property deals in the US are starting to pick ... by tgaj on Thursday February 15, 2024 @07:21AM (#39381815)
It could be a problem of a definition. In my country, a "developer" is someone who constructs buildings not for himself but to sell them to others. If I build a house for myself, then I am not a "developer". The difference is that "developers" only care about profit. For example, I wouldn't want to antagonize future neighbors, but the "developer" doesn't care about that.
Re:Commercial property deals in the US are starting to pick ... by SamBam on Thursday February 15, 2024 @08:31AM (#39382447)
Ok, but still by that definition every apartment building is built by a developer. So all the beautiful buildings in Paris or Rome or wherever. So they are hardly a modern American phenomenon.
Re:Commercial property deals in the US are starting to pick ... by epistasis on Thursday February 15, 2024 @10:22AM (#39383743)
You know who else only cares about profit? Farmers. Bakers. Grocers. Etc.

People needs homes. If somebody is "antagonized" because somebody else now has a home, the problem lies solely, fully, and 100% with the person that feels "antagonized." Its not an appropriate or socially acceptable response.

Re:Commercial property deals in the US are starting to pick ... by adrianN on Thursday February 15, 2024 @12:51AM (#39379570)
Who needs a canalization or public transport anyway?
Re:Commercial property deals in the US are starting to pick ... by refurb on Thursday February 15, 2024 @03:09AM (#39380248)
I mean go to a low income country and you can see the results.

No setbacks, sidewalk encroachment (building or parking), restaurants on the ground floor of houses (i remember going into one huge restaurant and seeing the family in a separate room watching TV). Bizarre road layout, etc,etc

Not all bad, but man is it chaotic.

Re:Commercial property deals in the US are starting to pick ... by Animats on Thursday February 15, 2024 @12:29AM (#39379439)
Using the first floor of mixed-use buildings being commercial is a huge flop in the SF bay area. Drive down El Camino on the SF peninsula. Look at all those ground floor vacancies, low-end tenants, and oversized "leasing offices" to fill up space.
Re:Commercial property deals in the US are starting to pick ... by electrondood on Thursday February 15, 2024 @01:30AM (#39379747)
I think the issue there is actually the cost to lease vs the amount of traffic. On El Camino there's usually not enough foot traffic to sustain a business in one of those locations.

If you go to similar shopping centers like San Antonio in MV, you can see those first floor units are pretty consistently occupied by businesses.

Re:Commercial property deals in the US are starting to pick ... by Animats on Thursday February 15, 2024 @02:12AM (#39379937)
That's because those places have more parking.
Re:Commercial property deals in the US are starting to pick ... by eastbound on Thursday February 15, 2024 @02:18AM (#39379970)
That’s a good point; An urban ecologist once told me the most environmental-friendly city is made of 6-floor buildings (like Paris):

- Ground floor: Shops,

- 1st and sometimes 2nd floor: Offices, lawyers, doctors, companies,

- 3-6th: Housing.

It was environmentally friendly because the density allows people to drop the car and go shopping and work with 15 minutes of their home.

Re:Commercial property deals in the US are starting to pick ... by doikor on Thursday February 15, 2024 @02:38AM (#39380087)
> - Ground floor: Shops,

Only the street facing side. A lot of the buildings in Paris have an inner yard where the ground floor has apartments.

Re:Commercial property deals in the US are starting to pick ... by thuuuomas on Thursday February 15, 2024 @09:27AM (#39383074)
I love to live within smelling distance of the urban slaughterhouse. I love not knowing what chemicals may be wafting out of tanks buried, forgotten beneath my brownfield luxury condo.
Re:Commercial property deals in the US are starting to pick ... by esoterica on Thursday February 15, 2024 @02:54AM (#39380180)
Big office buildings have very deep plates which make them very difficult to convert to sensible apartment layouts. You can have windowless conference rooms but you can't have windowless apartments.
Re:Commercial property deals in the US are starting to pick ... by Scoundreller on Thursday February 15, 2024 @02:56AM (#39380191)
I’m probably a weirdo, but a bedroom without windows feels like a great way to get the best sleep in an urban environment. Low noise, no light pollution. Kinda a dream really.
Re:Commercial property deals in the US are starting to pick ... by liampulles on Thursday February 15, 2024 @04:00AM (#39380532)
I grew up in a converted office-to-house in a bedroom with no windows. The one wall had a number of glass bricks put in to give some light.

A partially troglodyte nerd emerged, it worked out okay.

Re:Commercial property deals in the US are starting to pick ... by suzzer99 on Thursday February 15, 2024 @03:02AM (#39380214)
That's not bad. I do everything I can to darken my room while I sleep.

Just need an automatic light set to sunlight temperature that comes on when I want to get up.

Re:Commercial property deals in the US are starting to pick ... by fmobus on Thursday February 15, 2024 @04:35AM (#39380727)
Soundproof windows are the norm in Germany for modern buildings and are a ducking godsend. Mine are so good I can't even hear the rain unless it's a full-on storm.

Also, outside curtains are pretty good at blocking light. To the point I had to hack mine to open on sunset to ensure I wake up.

Re:Commercial property deals in the US are starting to pick ... by Scoundreller on Thursday February 15, 2024 @04:37PM (#39389311)
My beef is that windows are usually pretty good, but sliding doors to a balcony are garbage.
Re:Commercial property deals in the US are starting to pick ... by ginko on Thursday February 15, 2024 @05:00AM (#39380880)
Main concern would be ventilation, but that's usually oversized in office buildings anyways.
Re:Commercial property deals in the US are starting to pick ... by cpitman on Thursday February 15, 2024 @08:34AM (#39382486)
The window is required for emergency egress, not light.
Re:Commercial property deals in the US are starting to pick ... by impossiblefork on Thursday February 15, 2024 @03:06AM (#39380230)
I don't think it has anything to do with either that or with WFH.

Rather, the increase in interest rates necessitate a general reduction in price on both commercial and other property. WFH means that commercial property will be affected more, but it's something general.

Interest rates have gone from <1% to 5.5%, and if that's sustained there must either be such an increase in rents, which people would not be able to pay, or there must be a reduction in the price of commercial and rental property corresponding to the remainder.

Re:Commercial property deals in the US are starting to pick ... by j7ake on Thursday February 15, 2024 @04:34AM (#39380722)
In this case, are deep discounts in residential property next?
Re:Commercial property deals in the US are starting to pick ... by impossiblefork on Monday February 19, 2024 @03:36AM (#39427374)
I assume apartment buildings first. The people who actually own their homes aren't constrained in how irrational they can be.
Re:Commercial property deals in the US are starting to pick ... by chollida1 on Thursday February 15, 2024 @07:20AM (#39381805)
THis is a nice thought but rarely happens regardless of zoning.

Office buildings floor plates and residential floor plates aren't really compatable.

Office buildings have most of their floor plates not around windows, where are residential needs some light.

Also water, and sewer need to be retrofitted.

The one building that was a successful conversion that I know of cut out the center of the building to create a light corridor down the center of the building.

The Odd lots podcast had a recent episode on this and the guest said that converting office to residential is often more expensive than rebuilding.

So you've got a good though but its rarely practical in the larger city style office buildings.

Perhaps smaller density 6 story buildings would be easier to do?

Re:Commercial property deals in the US are starting to pick ... by danaris on Thursday February 15, 2024 @09:42AM (#39383217)
There is an actual solution, at least for buildings that are large enough:

Make the whole building mixed-use. Ring the outside with apartments, and keep the inside commercial. Make the whole thing a little community in itself.

Just fill the whole center of it with cafés, bodegas, computer repair shops—the kinds of small, locally-owned shops you get in a (healthy) small town or a pre-modern-zoning city area.

Re:Commercial property deals in the US are starting to pick ... by rsync on Thursday February 15, 2024 @11:39AM (#39384857)
Yes, that is an interesting idea and I suspect there are many other creative ways to do some thing like that.

The plumbing remains a major problem, however. Restrooms and other plumbing are very centrally located in an office tower and the newer and more modern that office tower is the more central and consolidated they are.

Anything is possible, of course, but solving the light issue is just one item… The plumbing issue is at least as complicated.

Re:Commercial property deals in the US are starting to pick ... by lumost on Thursday February 15, 2024 @10:14AM (#39383619)
Actually a really interesting idea. Not sure why we don't see this in major cities. Effectively this becomes a minimally with apartments. Do residents/businesses simply dislike this arrangement due to lack of foot traffic and noise?
Re:Commercial property deals in the US are starting to pick ... by packetlost on Thursday February 15, 2024 @10:17AM (#39383666)
I personally would love to live somewhere like that, but I don't see it working out in practice. For starters, discoverability for those interior businesses would be poor. Where would they put their names/signs?
Re:Commercial property deals in the US are starting to pick ... by Xirgil on Thursday February 15, 2024 @11:08AM (#39384415)
I would look to the signage in Tokyo for an example. The buildings have columns of signs listing the floor each one is on. Definitely not what we're used to which might hurt adoption at first, but it works for them.
Re:Commercial property deals in the US are starting to pick ... by devilbunny on Friday February 16, 2024 @12:45PM (#39400386)
In the lobby, by the elevators. Offices generally don’t rely on walk-in traffic the way that retail or food/drink do.

The biggest challenge I see is in how to segregate commercial and residential traffic. Residents will not mostly want to live somewhere that they encounter random strangers walking through their hallways all the time. A purpose-built residential tower can limit access per floor fairly easily. In low-rise buildings with living area above retail, you segregate at the door to the upper floors.

Re:Commercial property deals in the US are starting to pick ... by jdeibele on Thursday February 15, 2024 @03:03PM (#39387891)
Plumbing's been mentioned as an issue but I think ventilation would be an even bigger problem. The need to bring in fresh air and exhaust the cafe fumes from cooking, even with induction stoves, wasn't something that was probably planned for at all.
Re:Commercial property deals in the US are starting to pick ... by vdqtp3 on Thursday February 15, 2024 @03:04PM (#39387905)
> Just fill the whole center of it with cafés, bodegas, computer repair shops—the kinds of small, locally-owned shops you get in a (healthy) small town or a pre-modern-zoning city area.

Cyberpunk 2077, here we come!

Re:Commercial property deals in the US are starting to pick ... by mguerville on Thursday February 15, 2024 @11:58AM (#39385099)
In Europe a lot of old buildings do this conversion easily, it's really more a problem with modern construction (and hence most American buildings) where the entire design is extremely skewed towards one use case vs the other
Re:Commercial property deals in the US are starting to pick ... by xionplean on Thursday February 15, 2024 @05:50PM (#39390370)
In the US, the problem is we have built large offices around the idea of a central elevator shaft then the plumbing and bathrooms are running up and around the shaft. It makes perfect sense for a large multi story office.

You would have to design these weird apartments though that are like a thinly sliced pizza with no central area. Just a long hall of connecting rooms.

Or to retro fit all you have is the foundation and sides, everything else is basically wrong and cost wise you have less than nothing. It is just cheaper to start over and not have to undo all the wrong aspects.

We are mostly in denial in the US that there is going to be a ton of empty, useless buildings along with many regional banks going out of business.

Re:Commercial property deals in the US are starting to pick ... by Turing_Machine on Friday February 16, 2024 @10:18AM (#39398164)
> You would have to design these weird apartments though that are like a thinly sliced pizza with no central area.

Those used to be called "shotgun houses" (or, less euphemistically, "shotgun shacks") though they were rectangular, not pizza-shaped.

https://en.wikipedia.org/wiki/Shotgun_house

Of course, people did live in them because they were cheap.

In overpriced urban areas, the "pizza slice" configuration might be tolerable to some, if it were cheap enough.

Re:Commercial property deals in the US are starting to pick ... by Someone on Thursday February 15, 2024 @01:25PM (#39386312)
> Office buildings have most of their floor plates not around windows

That’s not the case everywhere. In ‘Europe’ (I don’t know what set of countries this applies to), workers must be able to get sufficient natural daylight.

https://www.kingspan.com/ie/en/knowledge-articles/what-is-en...:

“To comply with the minimum recommendations for indoor spaces lit with windows or curtain walling, over 50% of the space must achieve 300 lux for more than half the daylight hours in the year. In addition, to prevent particularly gloomy areas being created within a room, a backstop value of 100 lux has to be met across the entire space for the same period.

If rooflights are used to provide daylight into the space, then the requirements are more demanding with a value of 300 lux required for the whole of the relevant space for at least half of the daylight hours.”

Re:Commercial property deals in the US are starting to pick ... by reaperman on Friday February 16, 2024 @07:00AM (#39395787)
USA has no natural light requirements. Completely windowless offices can easily meet the standards here with no additional considerations.
Re:Commercial property deals in the US are starting to pick ... by Suppafly on Friday February 16, 2024 @04:00PM (#39402895)
Generally when 'USA' doesn't have requirements, it's because those things are handled at the state and local level, not because they don't exist at all. Building codes are generally hyperlocal. This isn't even a concept that would make sense to exist at the federal level with how the US is setup.
Re:Commercial property deals in the US are starting to pick ... by Suppafly on Friday February 16, 2024 @04:03PM (#39402935)
I think you're exaggerating how hard the retrofitting is to do. Office buildings tend to have tons of extra space for things like drop ceilings and utility chases that can be easily used to run plumbing and electrics. Natural lighting is a concern but these buildings also tend to have huge windows, that can light passively if the interior spaces that are being retrofitted in are designed correctly.
Re:Commercial property deals in the US are starting to pick ... by infecto on Thursday February 15, 2024 @07:42AM (#39381979)
I always keep hearing this but I have rarely seen it in practice. Yes I have seen a handful of examples where a mall was transformed into apartments on the second floor. Or maybe a historic building was turned into luxury lofts but I suspect for the vast majority of buildings, its cheaper to tear it down and repurpose it.

Now, I do have an appreciation for Japan's mixed use zoning but I suspect that has as much to do with the culture of honor/not being a dick as it does with mixed use zoning. I do think things can be relaxed in the US.

Re:Commercial property deals in the US are starting to pick ... by gedy on Thursday February 15, 2024 @07:52AM (#39382066)
> I suspect that has as much to do with the culture of honor/not being a dick as it does with mixed use zoning.

Yes true, and many people gloss over the issue of lawsuits - the US has a "lawsuit happy" culture that make many things very expensive.

Re:Commercial property deals in the US are starting to pick ... by infecto on Thursday February 15, 2024 @08:08AM (#39382218)
I think that takes too negative of a approach. It is simply a cultural difference. I think about China, most of the cities have pretty lax zoning...to be fair I don't know their exact regulations but its quite normal to have business in the first floor, your home above it. But people there do not generally care about personal space, same with Vietnam, nobody cares there is a welding shop right next to their house.

In the US there is generally a large desire to have a garage and some space away from your neighbors.

On top of cultural differences, I think itsj ust really hard to change existing cities without massive forces pushing it. You almost have to start fresh and even then you need a level of collaboration that is hard to get. I do think there is some change happening, I have seen new communities in Texas being build where there is central playgrounds and coffee shops being built as part of the development.

Re:Commercial property deals in the US are starting to pick ... by digdugdirk on Thursday February 15, 2024 @07:50AM (#39382047)
In that case, I'd like to introduce you to Houston, Texas.

The only city in the US without zoning laws, and historically known as a bastion of livability.

... If you're a car.

https://www.econlib.org/the-city-without-zoning-ready/

Re:Commercial property deals in the US are starting to pick ... by xenadu02 on Thursday February 15, 2024 @04:25PM (#39389144)
Conversions are only possible one way and tend to be permanent.

Industrial -> Commercial -> Residential.

Industrial equipment is heavy and needs much more reinforcement of the floor plates and columns. You can convert an old factory to lofts but not the other way around (lofts to factory is basically rebuilding the building inside the existing shell... much cheaper to knock it down and start over).

Commercial has vastly different plumbing, electrical, and ventilation requirements. Residential wants more natural light so you tend not to get the kind of profitable open floor plates you need in commercial. And generally commercial is over-supplied with electric but vastly under-supplied with water/sewer for residential needs. Once a commercial building is converted to apartments it doesn't go back - with the exception of very small commercial like a doctor's office taking over a house or similar.