Boston Is Transforming Abandoned Office Space Into Affordable Homes For 1,000+ Residents

Boston Is Transforming Abandoned Office Space Into Affordable Homes For 1,000+ Residents

Boston Is Transforming Abandoned Office Space Into Affordable Homes For 1,000+ Residents In 2023, Boston, Massachusetts Mayor Michelle Wu launched a city-first Office-to-Residential Conversion Program. The initiative offers a tax deduction of up to 75% for up to 29 years for downtown office buildings that convert to residential use. It’s an incentive that converts underutilized office spaces into something that serves the city’s residents, especially those who can’t afford skyrocketing rent prices. To be eligible for the program, projects must comply with the state’s “stretch energy code” and affordability requirements, ensuring that the building conversions are both sustainable and accessible to a variety of incomes. Residents of 281 Franklin Street are now moving into their new homes. Photo courtesy of Mayor Michelle Wu/Facebook Fast forward about two years, and the first residents to benefit from the program are now moving into their new homes. “This morning, we celebrated a huge milesto…