Boston's Mayor Michelle Wu launched a new initiative called Downtown Office to Residential Conversion Pilot Program. The program is expected to start accepting applications this fall. The public-private partnership program seeks to encourage the transformation of underutilized office buildings in the downtown area into residential buildings. - The primary objective is to establish housing units Downtown that would ensure steady footfalls for businesses in the area throughout the week.
- It will incentivize lenders, property owners, downtown stakeholders, and the State to expand housing units.
- The program will be administered by the Boston Planning & Development Agency in partnership with the Mayor's Office of Housing and the City of Boston Finance Cabinet.
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