Empty downtown Phoenix office buildings could be converted into affordable dormitory-style housing for a fraction of the cost of traditional apartments, according to a new report from the Pew Charitable Trust and architecture firm Gensler.
Why it matters: Phoenix’s office vacancy rate sits higher than the national average at 23%, while the Valley continues to face a housing shortage that’s driving up rents.
“[This is] a really interesting way to kill two birds with one stone,” Gensler market and data analyst Terry Hogan told Axios…