nostr:npub1k4uz82vjsjyv55w5aqh8ta7kdmhpzsa5xadm08aepgclpv33979q7p0yfm 

If it is profitable, it will happen without calling it out. My guess is that red tape combined with high risk are the main obstacles, making developers cautious (no offices downtown will reduce demand for housing).

And large cities in USA (NYC is probably not even the worst example) have a tougher stock than cities in Europe that once (1970s-1980s) converted housing into offices in downtown areas.