London is adding 1,500 new residencies where offices once existed. As the nature of how we work changes, London adapted.
New research from Accenture, CIPD, the Office for National Statistics, and PwC has confirmed hybrid working is here to stay.
As a result, the City of London will convert empty offices into housing. They intend to refurbishment old office buildings and add new residential properties of which 35% will be affordable.
London is also incorporating “The 15 Minute” city provision into the planning of its real estate. This theory, developed by Professor Carlos Moreno of the Sorbonne, is now gaining traction worldwide. The idea is to locate home, work, and leisure activities within a 15-minute commute.
The uses of real estate will pivot. Contact GE Grace with your real estate development ideas for New York. We have the space, and fortune will favor those who pioneer in the development for new uses. Call George at 646 312 6800 or email Grace@GEGrace.com.