The owners of 64 office buildings in New York City have contacted NYC's Office Conversion Accelerator Program for assistance in navigating the process of converting offices into residential housing, according to new data from the Department of City Planning.

Last summer, Mayor Eric Adams unveiled the program, which provides a single point of contact within city government to help speed adaptive reuse projects that provide 50 or more housing units. NYC is aiming to turn offices into up to 20,000 apartments over the next decade to help address the city's housing shortage.

Thus far, four office buildings involved with the accelerator program have successfully converted to residential apartments or begun construction, encompassing a total of 2,100 new apartments, according to a report in Gothamist.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.