Lessard is a key player in the specialty design niche of office space to residential conversions in the Washington, D.C., Maryland, and Virginia, market and beyond. Today the firm shares with us their valuable insight into that process.
Real estate development is always about the market. What happens when a once-prized office building suffers from 20 percent vacancy, becoming a liability rather than an asset? You turn it into an opportunity through creative design and careful planning.
Office-to-multifamily residential (MFR) conversions have become a defining trend across the nation. The Washington, D.C., region ranks second in the country for these conversions, after New York City, with approximately 6,300 units in the pipeline for 2025.