Please answer the following question: Given the following passage  "A second biotechnology district is being planned for the median strip on Frontage Road, on land cleared for the never-built Route 34 extension. As of late 2009, a Pfizer drug-testing clinic, a medical laboratory building serving Yale – New Haven Hospital, and a mixed-use structure containing parking, housing and office space, have been constructed on this corridor. A former SNET telephone building at 300 George Street is being converted into lab space, and has been so far quite successful in attracting biotechnology and medical firms.",  answer the following question. Note that the answer is present within the text.  Question: What is it called that the telephone building is now going to be lab space?
Answer:
converted