Rentcafe says office-to-apartment conversions are surging in popularity and predict that 2025 will reach a record-breaking milestone of almost 71k units in the pipeline. In addition they this trend reflects a shift toward sustainable, community-focused urban spaces that cater to the evolving lifestyles and priorities of modern American cities. Indeed…
“While the volume of office-to-apartments conversions is growing, indicating increased interest in this type of retrofitting, the carryover of pending projects from one year to another is quite large. This suggests that other factors like conversion feasibility, construction costs, and local incentives come into play.”
Some key points:
- The number of apartments set to be converted from office spaces has skyrocketed from 23,100 in 2022 to a record-breaking 70,700 in 2025.
- Office conversions now make up almost 42% of apartments in future adaptive reuse projects.
- Adaptive reuse of newer buildings (built between the 1990s and 2010s) is on the rise.
Click here to read the full report at Rentcafe.
