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Sinopsis

A lot of the nation’s empty commercial space is being put to good use. A recent report by RentCafe shows a huge surge in the conversion of vacant commercial buildings into apartment complexes. This so-called “adaptive reuse” trend began more than a decade ago, but accelerated substantially this past year, especially for the conversion of unused office space. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. A recent report by RentCafe says that, by the end of this year, developers will have created 20,100 residential units within old commercial buildings. Add that number to the 12,000 units created last year, and the decade kicks off with a total of 32,000 apartments created by converting commercial buildings into apartment homes. Decade-Long Trend According to RentCafe, it’s a trend that began in 2010 with 5,200 conversions. Back then, hotels were the most popular kind of building to convert into apartments. Old factories and of