Right, in like 400 years when they finally get the permits.
Also, what ever happened to the "Return to office" types? Huh, guess they moved away, changed jobs, work for companies that allow remote..etc.
Archive: https://archive.today/hGZEo
From the post:
>New York City’s first wave of office-to-residential conversions could yield over 17,000 new apartments, highlighting the potential for such projects to help ease the city’s housing shortage, according to a new report. Published on Thursday by City Comptroller Brad Lander, the report finds that 44 office conversions initiated after the pandemic could transform 15.2 million square feet of office space into as many as 17,400 homes over the coming years. However, the report warns that the city’s new 467-m tax break may be overly generous, potentially costing $5.1 billion in lost property tax revenue over 37 years.
Right, in like 400 years when they finally get the permits.
Also, what ever happened to the "Return to office" types? Huh, guess they moved away, changed jobs, work for companies that allow remote..etc.
Archive: https://archive.today/hGZEo
From the post:
>>New York City’s first wave of office-to-residential conversions could yield over 17,000 new apartments, highlighting the potential for such projects to help ease the city’s housing shortage, according to a new report. Published on Thursday by City Comptroller Brad Lander, the report finds that 44 office conversions initiated after the pandemic could transform 15.2 million square feet of office space into as many as 17,400 homes over the coming years. However, the report warns that the city’s new 467-m tax break may be overly generous, potentially costing $5.1 billion in lost property tax revenue over 37 years.
(post is archived)