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Downtown Toronto faces a crush of rising office vacancies that could threaten building valuations
(www.theglobeandmail.com)
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this post was submitted on 06 May 2024
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Plumbing, apparently, is one issue—residential buildings typically need much more of it than office buildings do. Not an insurmountable problem, but costs $$ to overcome.
The 2 projects I witnessed had to re-do the plumbing, electrical, elevators, fire detection/sprinklers, HVAC, and exterior glass, in addition to gutting every interior wall and doing a full asbestos removal.
It was a lot of work, over several years, but they now have full residential occupancy, so it seems to have worked out.