Office to Residential Conversions Making a Dent in the Nationwide Office Vacancy

BisNow April 27, 202,6 reported that the three largest office-to-residental markets are New York, Los Angeles and Chicago. Chicago has a conversion pipeline of 5,000 units while Washington D.C. with the fourth-largest market for conversions had a 4,167 unit pipeline. The typical office conversion candidate is an older building with smaller floorplates in the core downtown. I looked up San Francisco,, hoping this would be a noteworthy conversion market, but according to AI while the City of San Francisco is targeting up to 4,400 units regional reports only cite 825 units in the active pipeline.