Tall & Urban News

Under a pilot program, three real estate development groups in Boston have filed applications to the Boston Planning and Development Agency (BPDA) to convert a total of 104,000 square feet of office space into 170 apartments. The conversion plans include eight buildings in downtown Boston near the Rose Kennedy Greenway and the West End.

Each of the eight buildings in the application is under the categories of Class B and Class C office space and has become less desirable in the new hybrid workplace environment. The conversions are part of a new short-term tax break program backed by the BPDA. The program incentivizes real estate groups with steep discounts on property taxes to convert Class B and Class C office buildings into apartments and allows property owners to switch from designated commercial property tax rates to lower residential property tax rates.

Read more about this story at The Architect's Newspaper.