More office buildings converted into apartments across Utah, nation

SALT LAKE CITY (KUTV) — Empty office buildings are being redesigned into rental apartments in Utah and across the nation.

A handful of new apartment projects are being constructed in old office buildings right in Salt Lake City.

Projects like Arbor 515 in downtown Salt Lake City and Seraph at South Temple have created over 300 rental units in existing buildings. 600 office-to-apartment units are now in progress, according to RentCafe.

Nationwide, over 90,000 apartments were in the process of conversion at the start of this year. According to RentCafe, that’s up 28% from about a year ago.

While Utah has its own mix of projects, New York, Washington DC, and Chicago lead the nation with the most conversion projects.

Researchers explained that since the COVID-19 pandemic, there has been too much office space on the market. RentCafe says financial pressure and government-backed incentives are encouraging office to apartment living.

The rental site states that office-to-apartment conversions take several years to complete and are slower due to structural constraints, high construction costs, financing hurdles, and local regulatory requirements.

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