The Rise and Fall of Office to Multifamily Conversions

The Rise and Fall of Office to Multifamily Conversions: A Real Estate ...

Office vacancy rates continue to rise, with the national rate reaching 17.3% as of Q4 2022 from a pre-pandemic low of 12.2% in Q4 2019.

Rethinking the Downtown Office-to-Multifamily Conversion | NAIOP

Developers can convert suburban office into residential uses or tear them down more easily to rebuild for mixed-use/multifamily purposes. From a structural and ...

The Price Is Still Too High for Office-to-Multifamily Conversion

Only about 0.4% of office space was converted into multifamily units per year before the pandemic, and so far this has risen only to 0.5% in ...

Why the office exodus hasn't translated into a bigger ... - ResiClub

“The annual conversion rate from office to multifamily will remain low and only increase slowly to 0.74% in the next four years, delivering ...

Record Number of Offices to Be Converted to Apartments in 2024

This year, more than 55,300 housing units are being transformed from office buildings, a more than fourfold increase since 2021, according to a ...

A Primer for Office to Multifamily Conversions

Several converging factors are making office-to-multifamily projects more appealing for investors and capital providers.

Adaptive Reuse: Office-to-Multifamily Conversion Challenges

In 2022, 10,090 apartment units were converted from alternative building types. Office-to-multifamily conversions led the list with 34%, ...

Revitalizing Unused Urban Spaces: The Rise of Office-to-Apartment ...

With high competition in the multifamily arena, conversion projects should be ideally located close to amenities such as retail, restaurants, and other ...

Record Office-to-Apartment Conversions Planned for 2024 - RentCafe

Currently, office-to-apartment conversions represent a staggering 38% of the 147,000 apartments in future adaptive reuse projects, outpacing any ...

More Office Conversions Underway to Revitalize Downtowns - CBRE

Approximately 120 office-conversion projects nationwide—one-third of them to multifamily—are expected to be completed this year, compared with ...

ULI Fall Meeting 2024: Making Office-to-Residential Conversions ...

Conversions of office buildings for residential uses are becoming increasingly viable in some regions. According to Steven Paynter, ...

Office-to-Multifamily Conversions: What Can We Expect? - RSN

The scale of OTM conversions is staggering. Since the start of this trend in 2021, there has been consistent growth. But in 2024, we could see a record-breaking ...

The Rise of Office-to-Residential Conversions: A Nationwide Trend

Despite their potential, these conversions face significant hurdles, including building design limitations, zoning restrictions, and high conversion costs.

Office to Multifamily Conversions | Bala Consulting Engineers

... rising in 2023. While the majority of recent office space conversions have been to the laboratory and hospitality market, conversions to ...

CBRE: The rise and fall of office-to-multifamily conversions | News

Office-to-multifamily conversions are only slightly up, and there's no evidence they've significantly increased.

Office to multifamily conversions | Wellington US Institutional

Office to multifamily conversions ... Demand for office space has dropped dramatically amid the rise ... decline in multifamily starts. While it will take ...

Can unused office space become residential real estate?

Goldman Sachs Research estimates that the annual conversion rate from office to multifamily will remain low and only increase to 0.6% in 2026, ...

U.S. Office-to-Apartment Conversions: A Silver Lining, Not a Silver ...

Chart 4 shows estimated office-to-multifamily conversion starts with the data stretching back. Office-to-apartment conversions have received ...

The Rise and Fall of Office to Multifamily Conversions: A real estate ...

Office-to-multifamily (OTM) conversions is a popular topic in the media, but rare, and unlikely to impact the bottom line of either sector. OTM ...

Office to multifamily conversions: How attractive is this for CRE ...

Conversion to multifamily has been the best practice for old office buildings. OTM mutations have accounted for about 1% of multifamily ...