Tax Breaks Proposed to Convert Downtown Office Buildings into Housing
TL;DR
Boston Mayor Michelle Wu is proposing a property tax break of up to 75% over 29 years for downtown office building owners who convert their properties into apartments or condos, aiming to revitalize the neighborhood hit hard by the pandemic-induced office vacancies. This marks the first time the city has offered financial incentives to encourage office conversions as part of downtown's recovery efforts.
Topics:businesseconomic-development#boston#downtown-revitalization#economic-development#office-conversions#pandemic-recovery#property-tax-breaks
- Wu proposes tax breaks to spur office conversions downtown NBC10 Boston
- Boston to offer tax breaks to convert office buildings into housing CBS Boston
- Wu administration will offer tax breaks to turn office buildings into housing The Boston Globe
- This Week's Boston Deal Sheet (July 7, 2023) Bisnow
- Wu proposes tax breaks to spur office conversions downtown - Boston Business Journal The Business Journals
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