Boston Converts 15 Office Towers Into 762 Housing Units
Office Towers to Housing: A New Era Boston's skyline is set for transformation as the city begins converting underutilized office towers into housing units. This initiative addresses the post-pandemic economic structural shifts. The Office to Residential Conversion Program tackles increasing vacancy rates in the office market. It aims to revive downtown's economy by repurposing office spaces. Effective property management will play a crucial role in maintaining competitive rent to keep the new housing developments occupied and tenants satisfied. The program will create both general and affordable housing units, filling a significant gap in the city's accommodation market. This is a step towards mixed-use development. With 15 applications at City Hall, the conversion of 20 office buildings into nearly 800 residential units is under consideration. This marks a shift towards vibrant mixed-use environments. Such transformations stabilize the office market by reducing vacancy r...