What person, project, transaction, or market trend had the greatest impact on your industry this year? Hill West has noted an increase in the number of office-to-residential conversions being studied. Recently, I led a conference with AIA New York on the subject. Bringing together the city’s leaders, we explored this pivotal shift in New York real estate, discussing strategies to address housing shortages amid office vacancies. 

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2023? Gemma Gramercy marked our inaugural Passive House project. This residential building is a testament to our commitment to excellence and signifies a milestone in sustainable design. Following the highest standards of green living, Gemma Gramercy has set a new benchmark in the industry, reducing energy consumption by an impressive 85%. 

What emerging trends will drive investment and development in 2024? Our team is actively assessing our current projects in light of mayor Adams’ “City of Yes” zoning proposals. Working closely with city agencies, we are reviewing our project under this once-in-a-generation opportunity for zoning reform in New York City. The changes would overcome institutional hurdles to housing development in NYC.