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The Briefing Room: The Office-To-Housing Challenge
Description
Converting empty offices into housing sounds like a straightforward way to address two challenges at once, but the financial and physical realities are often far more complicated. In Episode 6 of The Briefing Room’s housing finance series, Dom Butchko and Terry Hickey are joined by Tim Karp of JPMorgan Chase to explore the office-to-housing challenge and what separates a viable conversion from a project that is unlikely to move forward.
The conversation examines which buildings are best suited for residential reuse, the design and construction obstacles that can drive up costs, and why conversions may be more expensive than new development. The episode also explores financing gaps, tax credits, public incentives, permitting, and other policies that can help projects pencil out. For policymakers considering how to reactivate underused commercial properties, the discussion offers a practical look at where conversions may work, where they may not, and how broader redevelopment strategies can help create housing and strengthen commercial corridors.
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