US cities transform empty office spaces into housing to combat high vacancy rates and economic impacts.

US cities like New York, Austin, and Boston are converting empty office buildings into housing due to soaring office vacancy rates, a trend exacerbated by the pandemic's shift towards remote work. High vacancy rates threaten to decrease property values and tax revenue, impacting essential services. To combat this, cities are using tax breaks and zoning changes to transform office spaces into residential areas, aiming to create vibrant 24/7 neighborhoods.

November 25, 2024
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