Developers are producing thousands of apartments yearly through residential conversions
Cities across the U.S. are converting outdated hotels, office buildings, warehouses, factories and other structures into apartments. Among office buildings, older Class B and C structures often are best suited for residential conversion.
Bar chart showing the growth of residential conversions, starting at 6,091 units in 2010, peaking in 2017 at 16,533, then dropping to 9,965 in 2018 and rebounding to 12,713 units in 2023.
