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DC Ranks Second Nationwide for Future Office Conversions
The D.C. metro area has nearly 8,500 apartments in the pipeline from office conversions, making it the second-highest region in the country for conversions.
With Washington, D.C., doubling down on office-to-apartment conversions, the area’s pipeline is only getting stronger, according to a recent report by RentCafe. Only New York ranks higher than D.C., with roughly twice the volume, while Chicago ranks third with about half as many units as D.C. Earlier this year, crews broke ground on The Geneva, the largest office-to-residential conversion project in the city’s history.
D.C.’s pipeline expanded by 30% in just one year, representing a notable jump at a time when several major metros are trending in the opposite direction, with seven of the top 20 markets seeing double-digit declines, including Minneapolis and Kansas City. Out of the roughly 13,200 apartments planned across all conversion types in D.C., about 64% will come from former office buildings.
