The State of CA is trying to get under control our lack of housing. What the state is doing is converting commercial office spaces into apartments. Currently, the State of CA has 14,000 units in different stages of development. Considering many commercial buildings are empty due to everything we underwent during COVID and the idea of converting them into living units is very smart. Los Angeles leads the nation with the most conversions underway right now. Hopefully, by doing this the State of CA can alleviate the pain Californians are experiencing right now with the shortage of housing.
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Source: Connect CRE
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