The Wu administration has received applications for four office-to-residential conversions — two downtown, and two in the West End — in the first two months of a program meant to incentivize more housing development through a special tax break.
The Boston Planning and Development Agency launched the program in mid-October, offering up a property-tax abatement that averages 75% over 29 years for conversions in downtown Boston and a handful of adjacent neighborhoods. The incentive is meant to help enliven downtown and put Boston’s empty office space post-COVID to a more productive use.
WATCH ANYTIME FOR FREE
Stream NBC10 Boston news for free, 24/7, wherever you are. |
More on this story from Boston Business Journal
Get updates on what's happening in Boston to your inbox. Sign up for our News Headlines newsletter.
Copyright Boston Business Journal