Study on US multifamily residential conversions examines drivers, pace, and future trends; focuses on adaptive reuse and redevelopment of commercial land, excluding greenfield development: Fannie Mae

This article is meant to provide clarity on the drivers and impediments to conversions, the recent pace of conversions and likely future volumes, and what lessons can be learned from recent projects and research on conversions. It is based on a review of existing research, supplemented by market data. “Conversions” are defined here as multifamily residential development on a site that, prior to conversion, had a commercial use other than multifamily. This can take the form of adaptive reuse, which has generated the most public attention, but also includes the re-development of under-built commercial land, such as parking lots. It does not include greenfield development, even if the raw land is commercially zoned.

Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.