Can you explain the "substantial expense" required to convert an office parking garage to a residential parking garage?
Typically, office building parking ratio is currently around 4 spots per 1,000 square feet (1). With two people sharing a 750 sqft 1BR apartment, there should be 50% extra parking spaces.
Typically, office building parking ratio is currently around 4 spots per 1,000 square feet (1). With two people sharing a 750 sqft 1BR apartment, there should be 50% extra parking spaces.
(1) https://www.commercialrealestate.loans/commercial-real-estat...