Rentcafe says over the last two years, apartment conversions have jumped by 25% compared to the two years prior, bringing a total of 28k new rentals in 2020-2021. In addition, they point out that adaptive reuse has picked up speed in America’s largest cities. Indeed…
“The residential market needs significantly more density in the areas of the largest cities, where the demand is greatest and where the tallest office buildings are located…Larger office buildings in abandoned central business districts are better suited to conversion than the often-smaller office complexes distributed around the suburbs.” Said Doug Ressler, manager of business intelligence at Yardi Matrix.
Click here to read the full report at Rentcafe.com.
