A think tank has come up with a come up with a new housing model to address New York City’s housing crisis, including the lack of housing inventory and skyrocketing housing costs.

It puts a new spin on a previously proposed idea, but New Yorkers seem to be split over whether it can actually work.

Flexible Co-living Housing is the brainchild of think tank 5BORO Institute outlined in the report, which features three components.

The first involves converting office space into residential units.

“I know a few people that live in them right now and they don’t mind it,” said New Yorker Alex Morgan. “It’s a good opportunity to still be in New York at an affordable price.”

With a staggering 103 million square feet of available or un-leased city office space, the report sites less foot traffic for retailers, a $12 billion loss in revenue for business areas and job insecurity.

5Boro Institute’s Executive Director, Grace Ruah, says Flexible Co-living Housing is a cheaper solution to the city’s housing crisis and can revive floundering business areas.

“We think that given the state of the crisis right now and the opportunity that we have with vacant office space, that the city should be innovating and experimenting,” Ruah said.

While converting offices to residential spaces is not new, the nonprofit says the housing proposal’s co-living component, such as shared bathrooms and kitchens, is far cheaper than creating other models.

“I would only say yes as far as cost of living,” said Jasmine Dellaney. “If you know the rent is going to be half the price of single family homes or these other apartments.”

But it could have some drawbacks.

“That’s a hard no for me,” said Jacqueline Bensaid. “You don’t know who you’re with, if people are going to be clean or tidy.”

If you can live without bedroom windows, interior window flexibility might appeal to you. It would enable window-less rooms in converted offices to “steal” natural light from other rooms.

The report’s authors insist that the cheaper options in the housing model could generate cost savings passed onto tenants in the form of cheaper rent.

It would, however, have to overcome regulatory constraints, which could happen if proposals by Mayor Eric Adams to change zoning laws are approved. Adams also supports office to residential conversions.

“It’s incredibly expensive in part because you have to address and meet all of the current regulations as they exist right now,” Ruah said.

But some New Yorkers see the housing plan as little more than glorified dormitories for adults.

“But if it’s more for like the schools and college like that, I understand from that point of view,” said Troy Owens. “But if it’s just a regular person trying to get an apartment, no.”

The authors of the study said they understand that the Flexible Co-living Housing proposal would require flexibility and an assessment of best practices. They recommend testing it out as part of a city pilot program in partnership with the state.