Phoenix ranks 13th for office-to-apartment conversions as 1,550 units take shape

Phoenix ranks No. 13 among the nation's largest pipeline of office-to-apartment conversions. RentCafe tracked 1,550 units being converted in the metro, according to its newest report released March 24. At the beginning of 2026, 90,300 apartments were in the process of conversion nationwide, up 28% from 70,600 a year earlier, according to the report. Office conversions now account for 47% of all future adaptive reuse projects nationwide, the report said. Financial pressure and government-backed incentives also are accelerating conversions. With about one-third of U.S....