A new analysis finds that converting Phoenix’s vacant offices into co-living microunits could create hundreds of lower-cost homes at nearly half the price of traditional apartments. With rents up 33% since 2018 and office vacancies at 23%, researchers say adaptive reuse offers an immediate, cost-effective affordability strategy. The report shows conversions could deliver $850-per-month units accessible to workers earning about 43% of area median income while revitalizing underused downtown buildings.
