Office-to-home conversions dominate adaptive reuse projects in California, with Los Angeles leading the trend. Developers are transforming underused offices into thousands of apartments for residents, responding to the state's housing needs and evolving work dynamics post-pandemic.
Hotel-to-residential conversions are second in California's adaptive reuse projects, followed by healthcare and retail. The movement towards repurposing commercial spaces is driven by the need for housing and reflects a national trend of converting buildings into apartments.
Yardi Matrix's Doug Ressler highlighted that repurposing commercial spaces into residential units is a significant trend in California's real estate landscape. The conversion of hotels, offices, healthcare, and retail buildings into homes is reshaping the state's property market post-pandemic.
#adaptive-reuse #commercial-to-residential-conversion #california-real-estate #housing-demand #post-pandemic-workspaces
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