The White House is giving $45 Billion to developers to convert empty office buildings into affordable housing.
The program will provide low-cost loans, tax incentives, and technical assistance to developers who are willing to undertake these conversions.
By increasing the supply of affordable housing, the program could help to bring down housing costs and make it easier for people to afford to buy or rent a home.
Will it work?
Read more here: www.whitehouse.gov/briefing-room/statements-releases/2023/10/27/fact-sheet-biden-harris-administration-takes-action-to-create-more-affordable-housing-by-converting-commercial-properties-to-residential-use/