Banker & Tradesman | State Adds $15M as Boston Extends Office Incentives

    Apartments | Banker & Tradesman | Conversions | Housing | Incentives | Office to Resi

    — Boston Multifamily Real Estate Investment and Development. The premier platform for a wide range of resources, tools, and advisory services for multifamily and mixed-use apartment building investors, and developers of land, in the Greater Boston area of Massachusetts.

    Jun 24, 2024

    State funding will offer incentives for affordable units as Boston extends its office-to-residential conversion incentive program through the end of 2024.

    Gov. Maura Healey today announced a pool of $15 million that would give developers $215,000 for each income-restricted unit in office buildings converted into housing.

    Boston’s pilot office-to-residential conversion program was set to expire next week. Since its launch in October, developers have submitted nine applications for 412 housing units in the Downtown Crossing, Financial District and South End neighborhoods.

    Source: State Adds $15M as Boston Extends Office Incentives – Banker & Tradesman

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