PHOENIX — Converting vacant high-rise office buildings into dorm-style living for adults could be key to tackling housing affordability struggles while also helping revitalize Phoenix’s downtown, according to a report from Gensler and Pew Charitable Trusts.
Such projects could also present an attractive opportunity for developers who may be wary of traditional office-to-apartment conversion projects, as they offer quick speed to market and lower development costs, the report concluded.
“You can do one of these conversions and bring homes online, these new micro apartments, in about half the time that ground up construction would take,” said Tushar Kansal, a senior officer for housing policy at Pew Charitable Trusts.
