Phoenix ranks No. 11 in U.S. for most office-to-apartment conversions
Office-to-apartment conversions are at an all-time high nationally, with Phoenix being one of the most active markets for retrofitting. Among the latest findings:
- Phoenix’s pipeline of 1,634 office-to-apartment units puts the metro 11th among other major cities.
- The industry increased 19% year over year in the Valley.
- Nearly three-quarters of all adaptive reuse projects in the Phoenix area are projects to turn office space into residential.
