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Office To Housing Conversions

All articles tagged with #office to housing conversions

real-estate2 years ago

Revitalizing Downtowns: Converting Offices to Housing.

Cities across the US are turning to office-to-housing conversions as a way to revitalize struggling downtown areas emptied by the pandemic. The push is marked by an emphasis on affordability, with cities offering tax breaks to incentivize developers to include affordable below-market apartments. However, housing advocates worry that the affordable housing requirements could get watered down, and even advocates of the conversion model say giving tax breaks to wealthy developers isn’t the best tool to achieve the goal.

via The Associated Press|
#affordable-housing#downtown-revitalization#office-to-housing-conversions
real-estate2 years ago

Revitalizing Downtowns: Converting Offices to Housing.

Cities across the US are turning to office-to-housing conversions as a way to revitalize struggling downtown areas emptied out during the pandemic. The push is marked by an emphasis on affordability, with multiple cities offering tax breaks for developers who include affordable units in their conversions. However, some housing advocates worry that the affordable housing requirements could get watered down, and even advocates of the conversion model say giving tax breaks to wealthy developers isn’t the best tool to achieve the goal.

via Yahoo News|
#affordable-housing#downtown-revitalization#office-to-housing-conversions
real-estate2 years ago

Navigating Challenges in Converting Office Spaces to Housing

New York may adopt regulatory changes to encourage office owners to convert properties into apartments to revive the area's economy. However, the political fervor among progressive Democrats for compulsory affordable housing attached to tax incentives for conversions could dampen developers' interest in the costly overhauls. Moreover, the policy initiatives on the table may not yield conversions on a broad enough scale to turn underpopulated downtowns into bustling residential neighborhoods.

via POLITICO|
#affordable-housing#economic-recovery#new-york