Charlotte is expanding its housing supply without laying a single new brick. Ranking fourth across the U.S. on a list topped by Manhattan, the city is at the forefront of turning old buildings into modern apartments this year, according to the latest Adaptive Reuse report.
Here are the key highlights for Charlotte:
- 351 new apartments were converted from unused buildings in Charlotte over the past year — a substantial 63% increase from the previous year.
- Most of them (235 units) came from the conversion of the historic Johnston Mill factory on 432 East 36th Street. The rest were created by repurposing an old hotel on 5746 Westpark Drive.
- Other standout examples in adaptive reuse within the Charlotte-Concord-Gastonia metro area are Belmont and Monroe, adding 240 and 56 apartments, respectively, by repurposing two factories.
- What does the future hold? In Charlotte, 96 units are under construction and will be completed in the near future, while Bessemer City is set to convert 139 units.
- Nationwide, the number of adaptive reuse projects grew 17.6% compared to the year prior. While office conversions remain popular, we’re now seeing a shift towards repurposed hotels, particularly in Manhattan, which now dominates the adaptive reuse landscape.
To find out where other metro areas stand in terms of adaptive reuse projects, check out the full study here: https://www.rentcafe.com/blog/
