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Offices Turn Into Homes
Paris La Défense plans to convert up to a fifth of its office buildings into housing as demand for office space has fallen since the pandemic and the rise of remote work. The district’s office vacancy rate is 14–15%, and developers face challenges including limited natural light, plumbing needs and regulatory requirements. Similar conversions are expanding in Washington, New York and London, where tax breaks and relaxed planning rules have helped projects proceed.
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