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  5. Office-to-Residential

Investment Strategies

Office-to-Residential

Office-to-Residential illustration

Office-to-residential conversions have become an area of significant interest in real estate development, particularly in the context of shifting work patterns and urban housing demands. The pandemic accelerated the adoption of remote work, leading to a decreased need for traditional office spaces. Consequently, some developers are repurposing underutilized office buildings into residential units to address the growing need for housing.

In major urban centers, where residential space is at a premium, this trend is particularly pronounced. Converting office buildings offers a solution to the scarcity of land and the high cost of new construction. These conversions often involve transforming high-rise office structures into apartments or condos, providing urban dwellers with centrally located living options.

One of the advantages of these conversions is the speed of bringing housing units to market compared to new construction. Buildings already have essential infrastructure in place, such as plumbing, electricity, and elevators. However, challenges include adapting office layouts to residential needs and complying with residential building codes, which can differ significantly from commercial standards.

These projects also align with sustainability goals, as repurposing existing buildings reduces the carbon footprint associated with new construction. The trend towards office-to-residential conversions is not only a response to current market conditions but also reflects a broader shift towards more flexible and efficient use of urban space. This approach is likely to remain a key strategy in addressing urban housing shortages and revitalizing city centers.

Developers building in Office-to-Residential

195 in the database
Abramson Brothers
Abramson Brothers
New York, NY
Abramson Brothers cover image
Employees11–50
Principals2
Markets1
Last updated: Oct 16, 2026
DeBartolo Development
DeBartolo Development
FL 33609, USA
DeBartolo Development cover image
Employees11–50
Principals7
Markets9
Last updated: Oct 16, 2026
Bonacio Inc.
Bonacio Inc.
Suite 401 Saratoga Springs, NY
Bonacio Inc. cover image
Employees51–200
Principals8
Markets3
Last updated: Oct 16, 2026
Alterra Property Group
Alterra Property Group
PA 19146, USA
Alterra Property Group cover image
Employees51–200
Principals7
Markets1
Last updated: Oct 16, 2026
Altus Realty
Altus Realty
VA 22201, USA
Altus Realty cover image
Employees11–50
Principals3
Markets1
Last updated: Oct 16, 2026
Clayson Country Homes
Clayson Country Homes
NN1 4ER, United Kingdom
Clayson Country Homes cover image
Employees11–50
Principals1
Markets1
Last updated: Oct 16, 2026
View all 195 developers in Office-to-Residential

Top markets for Office-to-Residential

  • United Kingdom· 51
  • New York· 37
  • District of Columbia· 32
  • Florida· 27
  • California· 25
  • Illinois· 21
  • Pennsylvania· 21
  • Texas· 20

Typical unlevered yield on cost

4.5 - 7.0%

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