Biden opens up funding for residential conversions — a sign of hope for downtown projects – Crain’s*

As Chicago’s downtown business district struggles under a post-pandemic malaise, President Joe Biden announced a slate of federal resources this week for developers and cities to speed up commercial-to-residential conversions. The White House initiative will open up funding from the Department of Transportation to finance residential development near public transit and facilitate transit agencies’ ability to transfer their properties to local governments or developers of affordable housing, according to a release.
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debtsor
6 months ago

I thought we discussed this already, the brightest minds in the industry all agree that 2% of office space is viable for conversion, and even that 2% probably isn’t cost effective.

Ex Illini
6 months ago

Did Biden announce it, or did he whisper it into a little girl’s ear and then she told everybody?

fed up neighbor
6 months ago

Another words, massive public housing sponsored by your federal whores.

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