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Office conversions to housing and other uses are reducing vacancies in U.S. cities, aided by policy and investment.
High office vacancy rates persist in many U.S. cities, but conversions of unused office space into housing, industrial, and mixed-use buildings are helping reduce the imbalance.
This trend, accelerating due to zoning changes, tax incentives, and investor interest, supports urban revitalization and stabilizes property values amid ongoing low demand for traditional offices.
In New York, over $450,000 in state funding was allocated to support library construction, renovation, and operations, enhancing access to resources and technology in underserved communities.
Meanwhile, nonprofit Exalt remains committed to establishing a youth support base in Syracuse, focusing on education, job training, and rehabilitation for at-risk youth, despite ongoing challenges.
Las conversiones de oficinas en viviendas y otros usos están reduciendo las vacantes en las ciudades estadounidenses, ayudadas por políticas e inversiones.