Tommy Dobczyk explores converting a Spokane office building into 90 luxury apartments. He asks colleague Laura to research the local housing shortage and absorption rates to validate whether the conversion makes financial sense.
Were you in the deal room today? More team members to see all the things. Well, the other interesting factor is that, like, we just talked about this last week, but Laura found an ad where somebody is trying to convert office to residential. Right. Right. And in the Spokane market, that's probably a needed thing. Right. Right. So we can go back. Laura, if you want to go back. Are they short housing up there? Let's find out. Go, go back to chat. Yeah. And then in here, hit that button right there. I want to look at this opportunity. As, uh, the 90-unit luxury housing, luxury multifamily. Converting the office building into a multifamily is— seems to be a better target route. And so what does the current market look like in this area for housing? And give me the, uh, over-under on saturation and absorption rates.
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