In a report titled “Converting Brown Offices to Green Apartments,” a working paper for the National Bureau of Economic Research, researchers at New York...
The researchers found that the typical conversion is financially feasible only in six cities, not including Dallas: New York, San Francisco, San Jose, Boston, Washington, D.C. and Denver. They said executing such conversions will require concerted efforts from local and federal lawmakers.
“It paves the way for restoring asset values and tax revenues, alleviating housing shortages, and meeting climate goals, while mitigating the negative externalities of vacant offices,” the report said.Advertisement
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