Office-to-multifamily Conversion Development Makes Headway in Phoenix

With less demand for office space in Phoenix, the office-to-multifamily conversion has gained traction among developers. One of Phoenix’s most notable projects, One Camelback, faced construction delays last summer due to financial difficulties. However, a recent opening of a new building permit within the city signals that plans are progressing. If approved, One Camelback will feature amenities such as a 3,025-square-foot coworking space and a 1,147-square-foot coffee bar for its tenants. The Valley is likely to see more office-to-multifamily conversions in the years ahead.

Source: https://www.bizjournals.com/phoenix/news/2024/03/14/one-camelback-new-building-permit-in-review.html