Trend
Office to Residential Conversions
None
About This Trend
The reduced demand for office spaces due to remote and hybrid work has resulted in rising U.S. office vacancy rates, which reachedrecord highsin the second quarter of 2023. This presents an opportunity for office-to-residential conversions:one studysuggests that 34 percent of office buildings in 14 major North American markets could be potential candidates.
Trend Updates
Feb. 26, 2024 — Seismic shift in everyday usage
- More people than ever are using this technology and it is now more evident that it will be part of the ongoing landscape...
Feb. 26, 2023 — Federal Regulations spike Demand
- Because of continued interest in this technology and a favorable environment for growth...
Feb. 26, 2021 — Pandemic recalibrates supply
- People are unable to create and devote time to innovating this critical technology now
Trend Category:
The Future of Work and the Workplace
Timeframe: Prepare
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APA's foresight research is made possible in part through our partnership with the Lincoln Institute of Land Policy.