If landlords can’t pay back loans on office buildings, the lenders will suffer. Some banks are trying to avoid that fate.
Hard times are likely ahead for a lot of people. Mind your expenses and plan to save where possible just in case. Apologies for having a doomer outlook; I’m very cynical about capitalism, especially in the USA.
That’s expensive and time consuming.
I’ve seen it done a couple of times and it took way longer than just bulldozing and rebuilding. But that would have been even more expensive.