Seattle, Boston, and San Francisco, which have the highest share of remote friendly jobs in the nation, have levels of demand down 39, 43 and 46% from their 2018-2019 average.

The company is in advanced negotiations to construct build-to-rent communities of 2,500 units throughout the US.

While there are barriers to adaptive reuse projects, such as zoning restrictions, issues with building envelopes, governmental regulations and hazardous material abatement, Hancock thinks the positives outweigh the negatives with these products.