Endeavor Group Real Estate (EGRE),Office-to-Housing Conversions Urged by EGRE in CA a Wyoming-based real estate firm,has issued an urgent call to action in response to the housing crisis caused by the recent devastating fires in California. With estimates suggesting that over 50,000 people have been displaced—whether due to the destruction of their homes or the lingering uninhabitable conditions—EGRE is pushing for the immediate conversion of vacant office buildings into residential housing.
Richard Rubin, a Managing Partner at Endeavor and a longtime Los Angeles resident, has a proven track record in converting empty office spaces, malls, and hotels into affordable and workforce housing. Office-to-Housing Conversions Urged by EGRE in CA ,He has accomplished this without relying on federally funded programs like Low-Income Housing Tax Credits (LIHTC).
Now, he sees a crucial opportunity to aid displaced individuals while also addressing the skyrocketing rental prices that have seen landlords increasing rates by as much as 200% or more.
“Currently, there are empty office buildings all over Southern California that could be converted into housing,” said Rubin from his LA home. “Rents are also spiking to the north and south of LA. We have millions of square feet of empty space. If developers, landlords, housing organizations, and government agencies could all collaborate to convert this unused space, we could alleviate what is turning into the greatest housing shortage in recorded history. We could provide affordable housing and prevent price gouging in the wake of this disaster.”
For years, Rubin has advocated for adaptive reuse as a key strategy in tackling housing shortages. When he first arrived in Los Angeles a decade ago, he saw the immense potential in repurposing existing buildings to create much-needed housing. Now, with California facing a housing crisis of unprecedented proportions, he believes this approach is more critical than ever.
Beyond the urgent need created by the fires, the broader office space market has been struggling for years. Since the COVID-19 pandemic, demand for traditional office space has plummeted, leaving many buildings largely vacant. Vacancy rates have reached historic highs, and default rates among commercial landlords have risen sharply. These financial pressures have put many property owners in a difficult position, as they struggle to lease space in a market that no longer supports traditional office use. Converting these properties into residential housing could provide a mutually beneficial solution—helping landlords recover lost revenue while simultaneously addressing California’s deepening housing crisis.
“Typically, when we have worked with office buildings in the past, we were met with resistance due to concerns about parking or density,” Rubin explained. “But now, those issues simply don’t exist. It seems like an obvious and logical solution to begin immediately converting empty and unused spaces into housing for those who have been displaced by the fires and for the broader homeless population.”
Rubin’s experience with adaptive reuse spans multiple projects across the United States, where he has successfully transformed underutilized properties into affordable and workforce housing. Before working in the U.S., he led similar initiatives in his native South Africa, demonstrating a long-standing commitment to housing solutions through innovative real estate strategies.
Southern California already faces an acute housing shortage, with homelessness at record levels. The problem is only expected to worsen as the region prepares to host major international events, including the Olympics and the World Cup. These events will bring increased demand for housing and further strain an already overburdened market. Without immediate intervention, the crisis will deepen, leaving tens of thousands of residents struggling to find shelter.
EGRE is optimistic that developers, landlords, housing organizations, and government agencies can work together to implement large-scale office-to-housing conversions. By streamlining the regulatory process and providing incentives for property owners to repurpose their buildings, California could make significant strides in solving its housing crisis.
“We need action now,” Rubin emphasized. “We can’t afford to wait years for traditional new housing developments to be approved and built. We have the infrastructure in place—we just need the willingness to adapt and innovate.”
About Endeavor Group Real Estate (EGRE)
Endeavor Group Real Estate (EGRE) is an independent property developer specializing in non-federally funded, non-LIHTC (Low-Income Housing Tax Credit) commercial market solutions. The firm pioneers innovative approaches to workforce housing, affordable student housing, and 55-plus senior housing through adaptive reuse projects in communities across the United States. EGRE remains committed to delivering high-quality housing solutions without relying on government subsidies, ensuring scalable and sustainable development models that meet the evolving needs of urban populations.
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