flexiblefullpage -
billboard - default
interstitial1 - interstitial
catfish1 - bottom
Currently Reading

Number of U.S. adaptive reuse projects jumps to 122,000 from 77,000

Adaptive Reuse

Number of U.S. adaptive reuse projects jumps to 122,000 from 77,000

Some 45,000 projects are office conversions, according to RentCafe’s annual Adaptive Reuse Report.


By Peter Fabris, Contributing Editor | July 27, 2023
Number of U.S. adaptive reuse projects jumps to 122,000 from 77,000 Photo by Sander Dalhuisen, Pexels
Photo by Sander Dalhuisen, Pexels

The number of adaptive reuse projects in the pipeline grew to a record 122,000 in 2023 from 77,000 registered last year, according to RentCafe’s annual Adaptive Reuse Report.

Of the 122,000 apartments currently undergoing conversion, 45,000 are the result of office repurposing, representing 37% of the total, followed by hotels (23% of future projects). Factories come in third place with 14% of the total.

In a significant development, former hotels experienced a record-breaking 2,954 new apartments resulting from conversion, a five-year high. This building type’s easier, more straightforward transformation path likely spurred a 43% increase in 2022 compared to 2021.  

At the local level, Los Angeles leads the pack with 4,566 apartments expected to be created through conversion. New York City (3,987 apartments) and Chicago (3,519 apartments) rank second and third.

In 2022, the number of office conversions completed dropped by 15%, but interest in those projects remains high, and their number could rebound this year.

“Office-to-multifamily conversions target smaller, older properties, yielding limited sector effects,” says Doug Ressler, senior analyst and manager, Business Intelligence, Yardi Matrix. “Based on the latest research by CBRE, the conversion of office spaces into multifamily units will primarily be restricted to smaller, older office properties due to factors such as construction costs and regulations related to residential construction.”

Related Stories

Adaptive Reuse | Jun 4, 2018

Pop-up retail market on Chicago’s Randolph Street will be made of repurposed shipping containers

Related Midwest will open the market at 725 W. Randolph St. later this week.

Adaptive Reuse | May 7, 2018

A decade after it debuted, Beijing’s 798 Arts District is still a work in progress

China’s third-most-popular tourist attraction remains a magnet for creative tenants.

Adaptive Reuse | Apr 26, 2018

Edison Lofts building is New Jersey’s largest non-waterfront adaptive reuse project

Minno & Wasko Architects & Planners designed the building.

Adaptive Reuse | Mar 8, 2018

LEED Platinum for Memphis industrial reuse project

Memphis-based engineering firm OGCB and contractor Grinder Tabor Grinder led the removal of 54 million lb of concrete and 10 million lb of metal.

Multifamily Housing | Feb 27, 2018

Victorian era gasholders become modern residences in London

The new residences are part of the King’s Cross redevelopment scheme.

Education Facilities | Jan 8, 2018

Three former school buildings are repurposed to create mini-campus for teacher education

The $25.3 million project is currently under construction on the Winona State University campus.

Adaptive Reuse | Jan 4, 2018

Student housing development on Chapman University campus includes adaptive reuse of 1918 packing house

The Packing House was originally built for the Santiago Orange Growers Association.

Adaptive Reuse | Dec 11, 2017

Detroit's economic improvement a boon to its hotel sector

Detroit Foundation, a stylish boutique hotel, is the Motor City’s newest hospitality venue.

Adaptive Reuse | Nov 29, 2017

‘Eat-ertainment’ establishment grants abandoned air traffic control building a second life

The concept’s design reflects the golden age of flight.

Adaptive Reuse | Nov 10, 2017

Austin’s first indoor shopping mall becomes Austin Community College’s new digital media center

Renovation of the defunct mall represents Phase 2 of ACC’s $100 million adaptive reuse project.

boombox1 - default
boombox2 -
native1 -

More In Category




MFPRO+ Special Reports

Top 10 trends in affordable housing

Among affordable housing developers today, there’s one commonality tying projects together: uncertainty. AEC firms share their latest insights and philosophies on the future of affordable housing in BD+C's 2023 Multifamily Annual Report.

halfpage1 -

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021