San Francisco’s office-to-residential push is producing a few real projects, but deep floor plates, high costs, and failed proposals still define the market.

Office-to-residential conversions can work, but only when basis, building design, rents, timelines, and incentives align tightly enough to make the capital stack pencil.

The Pittsburgher sale offers a real test of whether downtown Pittsburgh’s office-to-residential strategy can attract private capital and turn promising conversion plans into projects.

CityHouse Old Town brings 199 apartments to King Street, turning a former office building into luxury housing with retail, amenities, and strong early leasing.

Worcester’s One Chestnut Place shows how reset office values, public incentives, and downtown housing demand are making large conversions work beyond Boston.

A developer plans to convert Albany’s 54 State Street office tower into 120 apartments as New York lawmakers consider a tax credit to spur office-to-housing projects statewide.

Hudson Pacific is studying a residential conversion of San Francisco’s 901 Market Street, an early test of whether new incentives can finally make downtown office conversions viable.

RXR secured $475 million to convert a distressed Financial District office tower it defaulted on into 796 apartments, demonstrating how office-to-residential conversions are becoming a viable strategy for repositioning struggling assets.

Data from approximately 900 projects shows the office-to-residential conversion wave is just beginning, with more than half of 150,000 planned apartments still in the pipeline.