Across the US, office-to-housing conversions are being pursued as a lifeline for struggling downtown business districts that emptied out during the pandemic.
The building, empty since 2021, is being converted to 588 market-rate rental apartments that will house about 1,000 people.
In January, Pittsburgh announced it was accepting proposals to produce more affordable housing through the"conversion of fallow and underutilized office space.” And, as increasing numbers of employers turn to hybrid work models, there's the question of persuading people to live downtown if they're not required to be there every day.
Chuck D’Aprix, principal at Downtown Economics, a development consulting firm, said businesses and services like mid-size affordable grocery stores and day-care centers, pet supply shops, hardware stores and auto repair garages are needed to attract people to make the move. And they need to stay open past regular office hours.
A key piece of that plan is to rezone parts of Midtown Manhattan which currently only allow office and manufacturing spaces. The mayor's office also is pressing for approval of tax breaks that would entice developers to invest in conversions that include affordable units and other changes. Deputy Mayor Maria Torres-Springer said the conversions could help"make a dent in this dire housing crisis that we’ve been in.
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