Converting a commercial building to residential use isn’t that easy. For one the plumbing is very different for commercial use and not easily converted for residential. Either way this billionaire can get bent, remote work is better in every measurable way.
It’s because of the Two Santa’s Problem. Republicans figured out in the 1970’s they couldn’t get elected competing with Democrats who want to expand social programs. They then adopted the strategy of saying the government doesn’t work, defunding it so that the self fulfilling prophecy comes true and they can be a Santa by giving tax cuts for the programs they defund.
Most tech workers probably live in the suburbs and the public transit from the burbs into the city both suck and are insanely expensive.