Adaptive Real Estate Trend Is On The Rise

U.S. developers are embracing the office-to-housing conversion trend.  Between 2020 and 2021, 32,000 new apartment units were created by converting existing building spaces that had been used for other purposes. Forty-one percent were former office buildings. In the last year, Grand Rapids has approved zoning changes that allowed commercial building owners to  convert first-floor retail into residential space.  Other cities leading the adaptive real estate trend include Washington, D.C., Chicago, Los Angeles, and Cleveland.  Last year was the biggest year on record for adaptive real estate.