Biden pushes for cities to convert vacant offices into affordable housing – By Shannon Longworth (Straight Arrow News) / Oct 27, 2023
Currently, more than 20% of all office space in the U.S. is vacant, thanks in part to the COVID-19 pandemic, which had companies adopt full-time work-from-home or hybrid policies for their employees. But a new federal initiative, announced by President Biden, seeks to turn the empty real estate into affordable housing.
The U.S. is experiencing a growing crisis in the housing sector. President Biden’s administration is launching a multi-agency push to entice states and cities to convert office space into affordable housing. The push is something that some cities, like New York, have already been trying to do.
“Now, New York, of course, is the best city to live and work, so it is no surprise that people keep flocking here, but we simply do not have enough homes for them. But sometimes one problem can help solve another,” said Maria Torres-Springer, New York’s deputy mayor for Housing and Economic Development. “So, we have empty offices, not enough homes. Why don’t we turn outdated offices into apartments?”
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