To Speed Office Conversions to Housing, Biden Unlocks Funding Resources
October 27, 2023 by The Biden administration is promoting the conversion of empty office spaces into apartments to address high office vacancies and housing supply shortages. Significant financing resources are being made available, including below-market financing programs from the Department of Transportation, including the RRIF, and expanded federal housing dollars from the Department of Housing and Urban Development through their Community Block Grants program. The goal is to make these conversions financially viable, focusing on sustainability and affordability near public transit.