Roadmap to Facilitate Office-to-Residential Conversions Unveiled by Mayor Adams
The results of a study by the Office Adaptive Reuse Task Force of opportunities to convert outdated New York City office space to other potential uses, especially housing, were recently released. Established in July 2022 by Local Law 43, the recommendations by the city-led task force culminated in the January 2023 Office Adaptive Reuse Study, which provides a roadmap to spark affordable housing development that could potentially create as many as 20,000 homes over the next decade. A total of 11 legal and regulatory reforms that would make changes to state laws and city zoning requirements were recommended by the Task Force intended to increase opportunities for productive conversions, while also helping to “ensure NYC’s central business districts remain vibrant, and successful over the long term.”