NICHE TO MAINSTREAM
With over 5.2 million multi-unit properties and 5.9 million commercial buildings in the United States, the potential for condo conversions is vast. San Francisco, our flagship city, pioneered condo conversions in 1979 and introduced co-ownership and TICs (Tenants-in-Common) in the mid-1980s. Over the past four decades, San Francisco has seen the establishment of some 10,000 TICs and the conversion of more than 6,000 properties. Condo conversion serves as a strategic response to the demand for flexible, diverse, and market-affordable housing options.
As urban areas continue to evolve and adapt to changing demographics and lifestyle trends, the demand for diverse housing options will only increase. Condo conversions offer a practical solution to meet this demand while revitalizing existing properties and creating vibrant, inclusive communities. Therefore, urban cities nationwide present promising opportunities for implementing these real estate strategies, particularly in alignment with the evolving paradigm of urban living and working.
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