Manhattan's conversion pace continues to outpace the nation, with office-to-apartment conversions reaching record highs last year. But it appears that White Plains, New York, is hot on its heels, offering a mix of suburban and urban amenities.
According to a recent analysis by RentCafe, White Plains has made significant strides in converting abandoned office spaces into new apartments. Last year alone, the city saw the transformation of 468 units, which catapulted it to third place nationwide in terms of office conversions. This impressive feat even surpassed that of major cities like Houston, Texas.
While Manhattan remains the benchmark for these conversions, with a staggering 588 new apartments added last year from a single development called Pearl House, White Plains is closing the gap. The city's conversion trend has been driven by ambitious projects such as the reimagining of a 1960s AT&T office building into a rental community.
The nationwide trend is clear: over 24,000 newly converted apartments opened up to renters last year alone. This represents a significant increase from previous years, with development numbers more than doubling those of 2022. Most of these new units are coming from former office spaces, underscoring the growing popularity of adaptive reuse projects.
A record-breaking 181,000 apartments are currently in various stages of development across the country, according to RentCafe. And with over 100,000 conversions in the pipeline, it's clear that this trend is far from slowing down. Chicago has already surpassed Manhattan as the nation's conversion leader in some reports – however, it remains to be seen whether this ranking will hold.
Meanwhile, major cities like New York are continuing to push the boundaries of creative development projects. The transformation of iconic buildings such as 25 Water St., a former JPMorgan Chase and National Enquirer building in Manhattan, is a testament to the versatility of adaptive reuse.
Chicago has even begun to take notice of this trend, with more than 100,000 conversions planned for the coming years. And it's not just office spaces that are getting a makeover – vacant schools have also become increasingly popular targets, resulting in nearly 2,000 new apartments created from former school buildings last year.
According to a recent analysis by RentCafe, White Plains has made significant strides in converting abandoned office spaces into new apartments. Last year alone, the city saw the transformation of 468 units, which catapulted it to third place nationwide in terms of office conversions. This impressive feat even surpassed that of major cities like Houston, Texas.
While Manhattan remains the benchmark for these conversions, with a staggering 588 new apartments added last year from a single development called Pearl House, White Plains is closing the gap. The city's conversion trend has been driven by ambitious projects such as the reimagining of a 1960s AT&T office building into a rental community.
The nationwide trend is clear: over 24,000 newly converted apartments opened up to renters last year alone. This represents a significant increase from previous years, with development numbers more than doubling those of 2022. Most of these new units are coming from former office spaces, underscoring the growing popularity of adaptive reuse projects.
A record-breaking 181,000 apartments are currently in various stages of development across the country, according to RentCafe. And with over 100,000 conversions in the pipeline, it's clear that this trend is far from slowing down. Chicago has already surpassed Manhattan as the nation's conversion leader in some reports – however, it remains to be seen whether this ranking will hold.
Meanwhile, major cities like New York are continuing to push the boundaries of creative development projects. The transformation of iconic buildings such as 25 Water St., a former JPMorgan Chase and National Enquirer building in Manhattan, is a testament to the versatility of adaptive reuse.
Chicago has even begun to take notice of this trend, with more than 100,000 conversions planned for the coming years. And it's not just office spaces that are getting a makeover – vacant schools have also become increasingly popular targets, resulting in nearly 2,000 new apartments created from former school buildings last year.