Quote Originally Posted by mikeg19 View Post
I still don't see where the massive need to new office space is being generated from. Between Monroe Blocks and District Detroit [[yes I know, believe it when we see it), I can't see where developers can justify the cost for tens of thousands of feet of new office space. Seems like residential demand for downtown living is still at a decent rate and with hopefully softening interest rates that demand should only increase.
What we'll probably see is a shuffling of tenants moving from outdated spaces to newer ones. Then it will be up to the building owners whether or not they want to try to attract new office tenants, or pivot to residential. It's probably a bit wasteful, but those old office buildings can't all be in great condition, so maybe it's better for them to get a renovation to residential.

I bet we'll also see a little bit of movement from the suburbs downtown as businesses want to show that they are in the newest and nicest offices.