Apartment Conversions at All-Time High

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A recent report from RENTCafé says that thanks to an all-time high in conversions, yesterday’s factories are today’s Apartments.  The report says that of the nearly 2k buildings converted over the last 70 years, 800 were done in the last decade alone.  Interestingly, they say point out that old factories are the all-time most popular type of building to be converted into rentals.  To come up with their data, they used the Yardi Matrix to reveal where these projects were most common as well as their previous use.  Indeed…

“The U.S. has its fair share of beautiful old buildings — many of them historical — that are often underused or even abandoned. But, through adaptive reuse, they can be repurposed and converted to residential use…..From abandoned dispensaries to vintage gramophone factories…”

 

Click here to read the full report.

 

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Director of Education & Outreach, National Real Estate Investors Association

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