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Golden opportunities in the Greater Horseshoe

Toronto region's resilient office fundamentals and demographic trends may underpin conversion feasibility
30 Duke St. West, Kitchener. An office building which was converted to residential use in 2024. (CoStar)
30 Duke St. West, Kitchener. An office building which was converted to residential use in 2024. (CoStar)
CoStar Analytics
November 21, 2024 | 9:17 P.M.

As excess capacity builds in the office market due to eroding office utilization rates, the housing shortage is growing. Population growth, particularly in urban areas, is driving significant housing demand amidst comparatively scarce supply. At the same time, the shift towards hybrid and remote work models has significantly reduced the requirement for traditional office environments.

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