Hi:Hab Concludes Its First Conversion from Office to Co-living

hi:hab completes its first office conversion into affordable residential spaces.
SiiLA reports increasing office availability rates in major cities like Mexico City.

hi:hab transforms offices into affordable housing to tackle real estate challenges. Photo: Rabkina de Pixabay

07/28/2021

hi:hab has successfully completed its first office-to-residential conversion project in Guadalajara, Mexico. The transformed building now offers affordable housing in a prime location, providing a solution to the challenges of the current real estate market. The company plans to open over 2,500 rooms in Mexico City, Monterrey, and Guadalajara within the next year.

Fernando Terrazas, the owner of the converted building, expressed satisfaction with the project, highlighting the quick turnaround time and the positive response from young professionals and entrepreneurs.

Meanwhile, SiiLA's data reveals a rising availability rate in Mexico City's office market, emphasizing the need for innovative approaches such as office space conversions. This trend reflects the evolving dynamics of the office sector, which is seeking creative solutions to address the growing number of vacant spaces. The conversion of office spaces into alternative uses unlocks new potential for these assets, offering opportunities for revitalization and adaptation in the current market conditions.

Read the full article (in Spanish).

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