Logical Move

Washington DC is looking to incentivize the conversion of older commercial buildings (office, hotel, or retail) to residential use. This is a trend happening in many major cities to provide more housing options as prices have continued to rise.

D.C. Looking to Incentivize Office to Residential Conversions | JD Supra As office vacancies remain at record levels in D.C., and even leased buildings continue to remain largely empty thanks to COVID, the city is looking...

There are lots of generalizations being made about office occupancy, but as this story points out, it varies based on the type of industry and geography.

The Industry-Specific Trends of Office Leasing Demand | GlobeSt Some industries are doubling down on office space and signing new lease deals, while others are shedding space.

“Companies in the S&P 500 allocated $528.4 billion toward capital projects during the first nine months of 2021, or 11% more than during the comparable months of 2020” - just one more factor driving the demand for warehouse space nationally.

Companies Boost Capital Spending, Betting Demand Will Stay Strong Corporate spending on big-ticket items such as stores, warehouses and data centers is expected to remain strong this year after companies in 2021 boosted investments to meet rebounding customer demand.

Proposed legislation known as “The Revitalizing Downtowns Act” would provide tax credits for converting older office buildings into residential or mixed-use space. It’s still in the early stages, but would provide meaningful incentives to developers.

www.lasher.com Revitalizing Downtowns Act and Other Efforts to Resuscitate Downtown Areas in the Post-COVID Era Posted on January 10, 2022 by Kelly Harris The Revitalizing Downtowns Act was introduced in Congress this summer with the goal of converting unused or outdated office buildings into residential or mixed-...