Ready for Reinvention: 2023 Trend Report, made with support from CBRE, is for all parties involved in the real estate ecosystem and urban place management, including but not limited to investors, property owners, tenants, consumers, and the public and non-profit sectors.
We are living through a dynamic moment in time. The ways in which we have occupied the spaces where we work, shop, play, and live are changing before our very eyes, part of a rapid evolution in how consumers spend and value both their time and money. As large-scale downtown office anchors downsize, former office and retail spaces are poised to be repurposed for alternative uses. The question we must now ask ourselves is this: if not retail or office, then what?
Multifamily residential assets in urban and mixed-use places continue to fit the bill in areas with a decreased demand for office and retail as consumers continue to express interest in housing close to city centers. Interest in office-to-residential conversions, in light of the growth of hybrid work, is growing. Dive into Ready for Reinvention to learn how cities are removing regulatory barriers to give property owners more flexibility to pivot to uses for which there is demonstrated market demand.
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The Place Consulting team works to identify, analyze, and solve real estate and place-based challenges from the perspectives of key stakeholders in the real estate ecosystem, including investors, property owners, tenants, and consumers. We take pride in our award-winning diagnostic methodology, one that begins with uncompromising research: identifying unmet potential and diagnosing the hurdles in the way to meeting it. Our diagnostic ensures we have defined and fully understood the challenges, while also educating our clients and setting us up for highly executable solutions and recommendations that support return on investment— however it is measured.