An office sits vacant in San Francisco in October 2022. The city is one of several across the country offering incentives to convert unused office space into housing. (Justin Sullivan | Getty Images)
Read more Stateline coverage of how communities across the country are trying to create more affordable housing.
Nearly a fifth of office space across the country sits empty, a record high vacancy rate that’s expected to keep growing.
Seeking both to boost their economies and ease their housing shortages, cities are taking steps to encourage the conversion of unused office space into much-needed housing. They include reductions in approval times, exemptions from affordable housing rules and changes in building code requirements. Some cities and states also are providing tax incentives or subsidies to developers.
“Cities need to focus on making conversions feasible by removing unnecessary regulatory barriers,” said Alex Horowitz, project director of the Housing Policy Initiative at The Pew Charitable Trusts.