So convert those buildings to giant dorms. Lots of younger people would be more than happy with such an option (as long as it's priced accordingly of course)
Can also combine with capsule hotels.
Can also combine with capsule hotels.
It's a bit like how suburban commercial areas are now in trouble because there are fewer companies interested in the big box anchors, and without them many a strip mall stops making economic sense. But there at least the anchor is just a big empty box, not an 8 or 9 digit investment.
This is weird regulation to me. Why it is not allowed for apartment, but it is OK for office? Both buildings are sheltering humans, just during different stage of being awake.
Even if that's solved the bigger problem is earthquake code. These older buildings aren't up to modern code and significant renovations would require structure changes.
Unless we are talking about super large appartment with tons of rooms, they need windows
If they can’t rent the interior for much, that’s going to make replacing it with a new building look better because it’s more efficient.