Why are industrial lofts and warehouses often converted for residential or commercial uses?

• A. Because of city ordinances requiring a certain number of converted properties
• B. Because the investor is looking to take a reduction in income to save on investment earnings taxes
• C. Because they are located in high-rent areas or can be more profitable as a converted property than as its former industrial use
• D. For the fun and enjoyment of reusing something old

Answer: (C)