Lansing plays big by joining the nation’s top cities with most converted apartments from former office spaces: In 2023, the former Lake Trust Credit Union headquarters at 501 South Capitol Avenue was repurposed into City View Apartments, which now contains 172 apartments.

Across the country, the wave of adaptive reuse projects keeps building momentum year after year, with nearly 18% more apartments converted from outdated buildings in 2023 compared to the previous year. 

Here are more details from this year’s Adaptive Reuse report: 

• Lansing landed at #9 among the top cities with most office-to-apartment conversions in 2023, sandwiched between Chicago and Richmond, VA. Detroit also added 173 new units to its housing market last year – by repurposing a hotel and a factory into residential apartments. 
   

• According to our analysis of Yardi Matrix data, Lansing is only at the beginning when it comes to exploring adaptive reuse possibilities: Approximately 150 new apartments are expected to be converted across the city in the next years. 
   

• Last year, 3,587 new apartments emerged from former offices, representing 28% of all conversions completed in the U.S. However, hotel conversions took the lead in 2023, making up 36% of all projects. 

 
 
Go deeper into RentCafe’s findings to learn more about current and future perspectives in the adaptive reuse sector: 
https://www.rentcafe.com/blog/rental-market/market-snapshots/adaptive-reuse-apartments/    

RentCafe.com is a nationwide apartment search website and a part of Yardi. Our original city-based research, insights, and in-depth analysis of the real estate market have been used in stories featured on major media publications across the U.S.