Source: UrbanTurf
On Thursday morning, Mayor Muriel Bowser announced the three office-to-residential conversion projects that have been conditionally awarded tax abatements through DC's new Housing in Downtown program. Those projects will likely be familiar to UrbanTurf readers, as they include:
The Housing in Downtown program will provide 20-year tax abatements to the conversions above in exchange for at least 10% of the units being affordable at 60% Median Family Income (MFI) or 18% of units affordable at 80% MFI.
“Through these innovative conversion projects, we are transforming old spaces into new uses – in this case, housing – that will bring more people and new vibrancy to our Downtown,” Mayor Bowser said Thursday.