A large adaptable open space in a factory, warehouse or other commercial space, or a type of residence that results from the conversion of such a room. Such spaces generally contain very high ceilings, large windows, and concrete floors and ceilings.

Originally popular with artists, they are now highly sought-after by other bohemians, and the gentrification of the former manufacturing sectors of large cities is now a familiar pattern. One such sector is Manhattan's Meatpacking District.

The adoption of the Adaptive Reuse Ordinance (2001) in the City of Los Angeles (primarily the Artist District) is another example of such legislation to encourage the conversion of no longer economically viable industrial and commercial buildings to luxurious residential loft communities.

Such is the demand for these spaces among the well-off that real estate developers have taken to creating ready-made "lofts" in urban areas that are gentrifying or that seem primed to do so.

While some of these units are created by developers during the extensive and costly renovation of old buildings, a number of them are included in the floor plans of brand new developments.

Both types of pre-fab loft offer wealthy buyers or renters the proximity to urban amenities afforded by traditional lofts, but without the perceived safety risks of living in economically depressed industrial areas.

Detractors argue that these ready-made units are neither produced nor consumed in the spirit of traditional loft living.