Can office-to-housing conversions revive Boston's downtown?

""I view it as being a win-win, especially for Boston today," says John Weil, who heads the city's office-to-residential efforts."

""Candidly, this program was never meant to be a panacea that's going to solve the office vacancy problem," Weil said. But by creating new housing and consolidating office demand into fewer buildings, he added, the program could leave both markets in a stronger position."

Boston's office-to-residential conversion program, initiated in 2023, has approved 29 buildings for transformation into residential units, totaling 1,730 apartments. The program offers incentives like a 29-year, 75% tax abatement and streamlined permitting to facilitate these conversions. While the initiative aims to alleviate housing shortages, questions remain about its effectiveness in addressing the 20% office vacancy rate. City officials believe consolidating office demand and creating new housing can strengthen both markets.

Read at Boston.com