Phoenix a top market for office-to-apartment conversions
Afternoon historic church framed view of downtown Tempe, Arizona, USA.
Metro Phoenix recently ranked 11th in the country for office-to-apartment conversions in the pipeline. More than 1,600 units were proposed, planned or under construction, a 19% increase year-over-year, according to RentCafe.
A new Arizona law supported by the Arizona Multihousing Association has made the process easier by allowing developers to tear down or convert deteriorating commercial buildings into apartments without time-consuming rezoning.
Key Valley projects include:
- Kierland Sky in Scottsdale: 420 units
- Canyon Corporate Center in Phoenix: 400 units
- Alloy Midtown in Phoenix: 171 units
- One Camelback in Phoenix: 163 units
- The Landon in Phoenix: 162 units
- Punchcard Building in Phoenix: 144 units
- 500-560 W. Brown Road in Mesa: 103
- 40 East Lofts in Phoenix: 71 units
Source: https://www.bizjournals.com/phoenix/news/2025/03/06/phoenix-a-top-market-for-office-conversions.html
