Over 55,000 offices are scheduled to be converted to apartments in 2024 — and that number has more than quadrupled since 2021.

According to a new report from RentCafe, a hefty portion of those soon-to-be apartment units are concentrated in Phoenix. The rental analysis website looked at adaptive-reuse projects across the United States and found that the Valley of the Sun ranks No. 10 in the country for office-to-apartment conversions this year.

Former office spaces in Phoenix are slated to be turned into over 1,300 apartment units in 2024 — that’s a 114% increase year over year. One notable project is Kierland Sky, which will add 420 units to Phoenix’s apartment inventory.

Furthermore, nearly 800 additional units are in Phoenix’s adaptive-reuse pipeline, although these units won’t come to fruition this year and will be built in 2025 and beyond.