Posted on Jul 16, 2023
Boston Offers Tax Breaks to Turn Empty Offices Into Housing
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Boston Mayor Michelle Wu is offering hefty tax breaks to companies to turn offices into housing, the latest example of a city seeking to address the challenges of remote work hitting downtowns and a lack of affordable residences.
Boston is down with it, being the revolutionary place it is: The city is testing an incentive program for developers to convert empty downtown offices into housing. Mayor Michelle Wu announced this week that the owners of repurposed buildings could get a wicked deal—up to 75% off on their property taxes.
Boston is down with it, being the revolutionary place it is: The city is testing an incentive program for developers to convert empty downtown offices into housing. Mayor Michelle Wu announced this week that the owners of repurposed buildings could get a wicked deal—up to 75% off on their property taxes.
Boston Offers Tax Breaks to Turn Empty Offices Into Housing
Posted from bloomberg.com
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Edited 1 y ago
Posted 1 y ago
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Lt Col Charlie Brown
Usually for tax breaks like these, they have a certain number of "set asides" for low income but are free to charge the going rate for the rest of them
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I hope they reserve some buildings so to convert them to Parking garages. And re-enforce the floors because an electric car weighs considerably more than the average car/ suv. There have been reports of cars falling through to the lower levels of garages .!! And those cars were Electric.
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