An article by BISNOW'S Maddy McCarty explains how Houston has a high office vacancy rate but has been slow in converting aging buildings into other uses. Only 11 office-to-other-use conversion projects have been tracked by CBRE since 2017, while the city has led the nation in new real estate construction. To encourage building owners to pursue adaptive reuse, incentives are needed, according to industry analysts.

Central Houston has commissioned a feasibility study to understand the costs and viability of converting office buildings to residential or hospitality use. Houston has a high office vacancy rate compared to the national average, with most vacant buildings concentrated in older properties. Financing is a major hurdle for conversion projects, and incentives such as tax credits and private funding could make conversions more economically viable. While conversions have gained traction nationally, Houston's abundance of land and the preference for ground-up development have hindered the conversion trend in the city. The feasibility study aims to identify potential conversion candidates and inform the design of an incentive program. Reusing buildings is considered more sustainable and would increase the city's vitality.