Which Cities Are Converting the Most Commercial Spaces Into Apartments?
Across the United States and elsewhere, urban landscapes are undergoing a transformation as cities convert underutilized commercial spaces into residential apartments. This trend is particularly prevalent in areas where there’s an acute need for housing, and the fluctuating demands for office and retail space have driven this innovative solution.
One city leading this shift is New York City. The Big Apple has long faced a housing shortage, and with the pandemic reducing demand for office space, the city has seen an uptick in conversions to residential use. The city government has even considered changing zoning laws to make it easier to transform hotels and offices into homes.
San Francisco is another city where this trend is gaining traction. Known for its exorbitant rent prices and tech-driven economy, San Francisco has a surplus of office spaces post-pandemic as many companies adopt permanent remote work policies. This change has sparked proposals to convert some of these buildings into much-needed housing.
In Chicago, a plan called Adaptive Reuse Ordinance supports the conversion of old commercial buildings into residential units. This move is intended not only to increase housing supply but also preserve the historic architecture of the city.
Los Angeles has been looking at its empty or underused corporate buildings as potential sites for apartment conversions amid a severe housing crisis. Programs have been initiated to streamline the process for developers, offering incentives such as reduced parking requirements.
Seattle is no stranger to this concept either. As one of the fastest-growing cities in the country, Seattle faces its own set of challenges when it comes to housing. With construction costs on the rise, repurposing existing structures like outdated commercial centers offers a more affordable housing solution.
Across the pond in London, England, similar initiatives are underway. The UK government implemented legislation that encourages converting office buildings into residential spaces without full planning permissions under Permitted Development Rights.
The movement is not confined to only these urban hubs; many cities around the globe are recognizing the potential benefits of converting commercial spaces into residential units in response to evolving work habits and urban living demands. This shift is indicative of a broader trend toward increased residential density and mixed-use development in metropolitan centers worldwide.