Monterey
Real Estate
How is Garden Road Transforming Offices into Homes?
Overview: Developers in Monterey are transforming vacant office buildings on Garden Road into residential units. Here are the main points: - Unused office spaces are being converted into homes. - Three projects are currently in progress on Garden Road, with a potential fourth depending on future conditions. - These projects aim to address the housing shortage and provide affordable living options. Details: Developer Brad Slama is leading the conversion of three office buildings into apartments. One site will offer about 64 apartments with community and laundry facilities included. These apartments are expected to be priced between $1,700 and $2,400 per month. Slama is also planning to demolish two other buildings on Garden Road to construct a new complex. This is part of a larger initiative in Monterey to encourage multifamily developments in the area, supported by recent changes in city zoning laws. Local authorities support these developments to help achieve housing goals. Affordable housing close to workplaces benefits the local economy. However, there are challenges, such as state water usage restrictions due to a cease-and-desist order against the local utility company. Despite these issues, Slama and other developers are pushing forward with efforts to increase Monterey's housing supply. For more detailed information, refer to the article [1].
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