Are the next luxury apartments… offices?
Are the next luxury apartments… offices? |
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Hines, a global real estate investment and development firm, has big plans for one of Salt Lake City’s downtown landmarks. The firm intends to convert the South Temple Tower, a 24-story office building, into 255 luxury apartments. While this project is Hines’ first venture into office-to-residence conversions, projects like this have been popping up across the country for months.
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Our take |
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People are always going to look for creative ways to make money. In times like these when the market is shifting, they get even more creative. You can bet every city in the world will have their eyes on this project. If it goes well, we could be seeing a huge wave of new downtown converted residences hitting the market in the coming years.
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