If you read the article carefully, you'll see clues to why this developer can make it work in spite of conventional wisdom:
1. He picks his buildings carefully. His projects are "market rate", so he has to work out the conversion cost, inventory yield, and rental rates to find good candidates.
2. He includes rooms without windows and labels them as storage, work-from-home offices, or something else that does not need a window to be legal. But (wink-wink) he fully expects that these will be counted as bedrooms by potential renters.
1. He picks his buildings carefully. His projects are "market rate", so he has to work out the conversion cost, inventory yield, and rental rates to find good candidates.
2. He includes rooms without windows and labels them as storage, work-from-home offices, or something else that does not need a window to be legal. But (wink-wink) he fully expects that these will be counted as bedrooms by potential renters.