Multifamily Market Commentary
Commercial-to-Residential Conversions: A Review of Existing Research
April 23, 2024
Historically high home prices and rents, coupled with historically high vacancy rates in office buildings and other commercial property types, have ignited interest in whether the large-scale conversion of commercial properties to residential could help rebalance both markets. Numerous adaptive reuse projects have taken place or are in progress, and the details of those projects can suggest that conversion is a relatively efficient means to shift large quantities of vacant commercial space to occupied residential units.