Amid a decades-high level of office vacancies and an affordable housing crisis in the US, the White House announced a new plan on Friday to unlock funding resources for office-to-residential conversions. The plan includes opening up below-market financing programs accounting for billions of dollars in loans to projects located near public transit, and providing technical assistance. While converting empty offices to apartments can solve two problems at once, property owners face a host of physical, regulatory and financial constraints. The Biden administration's goal is to make conversions viable financially for more office buildings that have potential, Kriston Capps reports. Today on CityLab: A New White House Plan to Create Affordable Housing: Convert Empty Office Buildings. – Linda Poon A Regional Government Faces Calls for Reform in Houston Voters are weighing changes to the Houston-Galveston Area Council, a planning organization that's been at odds with the city over freeway and flood recovery funds. Korea Avoids Deadly Halloween Festivities a Year After Deadly Crush A year after a deadly crowd crush of festival-goers in Seoul, major retailers are avoiding holiday promotions and police are warning people about crowded venues. NY's MTA Begins $590 Million Park Avenue Viaduct Renovation The renovation of a 130-year-old rail bridge that links New York City to its northern suburbs and Connecticut finally kicked off on Thursday, according to Governor Kathy Hochul. Clear Eyes, Full Hearts and a $94 Million Texas High School Stadium The 8,000-seat venue could be the costliest in state history. |
No comments:
Post a Comment