October 17, 2005
While San Diego is frequently highlighted as the leader in the conversion craze, it is not the only city in danger of oversupply. Riverside is showing signs of overbuilding, according to the University of Southern California's Casden forecast. In 2004, 73,000 apartment units went to converters, with that number expected to double in 2005. In addition, 22 million square feet in office and industrial buildings has been converted to residential and office-user condominiums, according to Lustig-Bower.