In 2023, there were more than twice as many adaptive reuse projects underway around the country as in prior years.
In an article for CoStar News, Katie Burke describes some major adaptive reuse projects that are converting office buildings into housing or other uses. “There are about 100 such conversion projects underway across major cities in the United States, according to CoStar and data from brokerage giant CBRE. That is a significant spike compared to the annual average of about 40 office conversions between 2016 and 2022.”
Almost half of the properties are being converted into multifamily housing, while around 20 percent are being converted to life sciences uses. While conversion isn’t possible or efficient for all office buildings, many of them lend themselves to adaptive reuse.
See the source article for a list of significant conversion projects from around the country, complete with photos.
Read the full story: How 2023 Became a Year for Office Conversions
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