Weighing in on Mayor Wu's Residential Conversion Program for Downtown Offices
Boston Planning & Development Agency (BPDA) contracted HR&A Advisors to study the opportunities of converting office space in Downtown to residential, life science, and hospitality spaces. Pretty cool findings...
The study finds office space in the Financial District as most suitable for conversions. Why?
Green building standards, affordability requirements + linkage fees can burden a project, but incentives can be offered to balance it out.?Such as:
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Finally, the study recommends some thresholds for a successful office to residential conversion based on physical attributes, building performance and regulatory requirements.?
Factors impacting the conversion thesis….
This article is an analysis and commentary based on the final draft report titled "Plan: Downtown" published by The Boston Planning & Development Agency on August 21, 2023.