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The Path for Converting Office to Residential Is Narrow

Only a Few Office Buildings Satisfy the Requirements for Residential Repurposing
The Vanguard Building, at 1111 20th St. NW in Washington, D.C., is being converted into the Elle Apartments, with construction scheduled to finish in 2024. (CoStar)<br>
The Vanguard Building, at 1111 20th St. NW in Washington, D.C., is being converted into the Elle Apartments, with construction scheduled to finish in 2024. (CoStar)
CoStar Analytics
June 22, 2023 | 7:55 P.M.

According to some theoretical projections, the opportunity to repurpose existing office buildings into multifamily apartments is enormous. In reality, only a narrow set of existing office buildings are truly viable candidates for such conversions.

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