A growing number of developers are considering converting empty office towers into housing as part of an effort to find uses for properties that emptied out during the pandemic.
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Multiple cities are offering serious tax breaks for developers to incentivize office-to-housing conversions — provided that a certain percentage of apartments are offered at affordable below-market prices.
Across the country, office-to-housing conversions are being pursued as a potential lifeline for struggling downtown business districts that emptied out during the coronavirus pandemic.