The Total Carbon of Commercial to Residential Conversions
Aligning the Climate and Housing Imperative
Project Partners: ULI Randall Lewis Center for Sustainability in Real Estate; Architecture 2030
Project Type: Total carbon study
Keywords: commercial real estate, adaptive reuse, housing, total carbon
overview
While the dual housing and climate crises are often viewed in opposition, commercial to residential conversions offer a powerful solution to reduce carbon emissions while simultaneously address housing shortages and high office vacancy rates. Conversions are gaining momentum in the commercial real estate sector, supported by a growing number of policy incentives and regulations.
The “ULI Commercial to Residential Carbon Study” is a companion report to ULI’s 2023 “Behind the Façade: The Feasibility of Converting Commercial Real Estate to Multifamily,” intended for real estate developers, investors, policymakers, and city planners seeking to align investment strategies with climate goals.
24
commercial to residential conversions from across the U.S. evaluated for embodied, operational, and whole life carbon impacts
62%
average estimated embodied carbon reduction from commercial to residential conversion vs. new construction
>33,000
metric tons of greenhouse gas emissions avoided in the first 15 years of converting the 24 buildings studied
CHECK BACK IN MID-AUGUST FOR FULL PROJECT INFORMATION!
(follow us on LinkedIn to stay up to date)