Idea for fixing the housing shortage

Are folks familiar with this City of Boston initiative? (I was not until just now, though in retrospect I've read about some of it piecemeal):

www.boston.gov

Housing Innovation Lab

Boston is an incredible place to live—it’s no surprise that projections tell us that the city’s population is expected to exceed 700,000 people by 2030. This growth creates increased demand for housing, challenging our ability to provide affordable housing for all. The Housing Innovation Lab...
www.boston.gov www.boston.gov

Their projects seem to pursue answers to some of the questions raised in this thread, but what is not clear to me is how recommendations that come from these (seemingly good) experiments will scale up to meaningful quantities.
 
BeyondRevenue said:
I remember when this building started and thought “Oh, man! We’re finally being smart about how we build!”
Nope. it’s still more the exception than the rule.
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It's really not cheaper than conventional (at least yet) though clearly better from a worker comfort and safety standpoint and reduces construction waste. It has the promise of reducing construction time but at the expense of longer design times, and when a building takes longer to permit and design than to build, I am not sure the construction savings are worth it, even if they are realized.
 
Apparently, Boston may be giving major tax breaks for Office-to-Residential conversions- up to 75% off for 29 years, with certain caveats: they must meet stretch energy codes and affordable housing requirements, and the developers basically have to move immediately - applications close June 2024 and construction by October 2025.

I feel like that is a very aggressive target - I don't think you can really do office-res in a partially leased building - which most of the underutilization is - and the aggressive time frame doesn't leave time to do design and permitting in a lot of the biggest buildings. I feel like this is only going to affect the smaller, older, shorter class B/C office buildings who don't have as many multiyear tenants (or at least have tenants they can incentivise to move) or historic ones owned by smaller firms, which may be better for conversion in the first place what with having smaller floor plates.

www.bostonglobe.com

Wu administration will offer tax breaks to turn office buildings into housing - The Boston Globe

Boston is set to launch a pilot program to encourage residential conversions amid struggles in the office market and the city’s ongoing housing crunch.
www.bostonglobe.com www.bostonglobe.com
 
Stlin said:
...I feel like this is only going to affect the smaller, older, shorter class B/C office buildings who don't have as many multiyear tenants (or at least have tenants they can incentivise to move) or historic ones owned by smaller firms, which may be better for conversion in the first place what with having smaller floor plates.
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...which could end up being OK, at least as an initial piece of policy, since those older B/C offices are the ones that should be targeted right now because: A) interest rates are high and financing is hard to get, so who is going to finance a $300M+ mega project now anyway?, B) some people still feel that the "death of the office" is at least somewhat overblown and at part a victim of the present economic uncertainty, which is not to say those bigger 80s-90s era office towers are OK as-is forever; rather, they might make more sense to sustain as partially-leased in the near term and converted to renewed/modernized class-A office space 5-10 years from now, rather than residential today. I really don't mind the older, smaller B/C offices being the prime targets - those are the ones most at risk of becoming blighted and allowed to decay, they're the lowest hanging fruit to convert, and if enough of them are converted throughout downtown, it will still succeed in transforming the area into more of a 24/7 neighborhood. I actually think a semi-vacant, somewhat modern tower with a robust/secure ground level poses less risk of hurting downtown vibrancy than a string of 1890s-1930s midrises with low/no occupancy and papered-over/graffitied ground levels.
 
bigpicture7 said:
...which could end up being OK, at least as an initial piece of policy, since those older B/C offices are the ones that should be targeted right now because: A) interest rates are high and financing is hard to get, so who is going to finance a $300M+ mega project now anyway?, B) some people still feel that the "death of the office" is at least somewhat overblown and at part a victim of the present economic uncertainty, which is not to say those bigger 80s-90s era office towers are OK as-is forever; rather, they might make more sense to sustain as partially-leased in the near term and converted to renewed/modernized class-A office space 5-10 years from now, rather than residential today. I really don't mind the older, smaller B/C offices being the prime targets - those are the ones most at risk of becoming blighted and allowed to decay, they're the lowest hanging fruit to convert, and if enough of them are converted throughout downtown, it will still succeed in transforming the area into more of a 24/7 neighborhood. I actually think a semi-vacant, somewhat modern tower with a robust/secure ground level poses less risk of hurting downtown vibrancy than a string of 1890s-1930s midrises with low/no occupancy and papered-over/graffitied ground levels.
Click to expand...
The older class B/C office buildings also have the right kinds of floor plates for residential conversion. They usually have higher windowed wall to area ratios, with light wells, air shafts and exterior bays that put much more of the interior on an exterior wall (preferred for residential floor plans).
 
Stlin said:
Apparently, Boston may be giving major tax breaks for Office-to-Residential conversions- up to 75% off for 29 years, with certain caveats: they must meet stretch energy codes and affordable housing requirements, and the developers basically have to move immediately - applications close June 2024 and construction by October 2025.

I feel like that is a very aggressive target - I don't think you can really do office-res in a partially leased building - which most of the underutilization is - and the aggressive time frame doesn't leave time to do design and permitting in a lot of the biggest buildings. I feel like this is only going to affect the smaller, older, shorter class B/C office buildings who don't have as many multiyear tenants (or at least have tenants they can incentivise to move) or historic ones owned by smaller firms, which may be better for conversion in the first place what with having smaller floor plates.

www.bostonglobe.com

Wu administration will offer tax breaks to turn office buildings into housing - The Boston Globe

Boston is set to launch a pilot program to encourage residential conversions amid struggles in the office market and the city’s ongoing housing crunch.
www.bostonglobe.com www.bostonglobe.com
Click to expand...

I agree they’re being too aggressive, but maybe they’ll offer a less enticing program with a longer window afterward. Say, 50% tax break, no affordability requirements, and another few years to get started.

That said, getting the older, smaller buildings converted first is probably much easier, provides more benefit (they are, by definition, more spread out) and the city can see just how much consolidation there is among the larger buildings afterward.
 
In face of housing crisis, Mass. lawmakers appear aligned on one of the first of many responses
Lawmakers appear ready to substantially boost spending on tax credits used to build market-rate housing in midsize and smaller cities.
cloudfront-us-east-1.images.arcpublishing-1-64b9b7cc10f4d-768x432.png


“Nearly six months into its session, the Legislature is primed to dramatically expand a tax credit program to spur more market-rate housing in midsize and smaller cities, marking what leaders suggested is a table-setter for a larger response to the state’s crippling housing woes.

The bid to pump tens of millions more dollars into the so-called Housing Development Incentive Program, while at the same time reshaping it, marks one of the first times the House and Senate leaders appear in alignment on a major housing policy initiative this year.

Action on the housing front can’t happen fast enough. Lawmakers say they’re under constant pressure to move in the face of the crushing demand for housing statewide. In Greater Boston, the median price for a single-family home is at an all-time high, while rents are now among the highest in the nation. Officials estimate the state needs hundreds of thousands of additional units by the end of the decade to help stabilize prices.

ADVERTISEMENT:

The program Massachusetts lawmakers are targeting faces its own ticking clock. The current $10 million annual cap on those housing tax credits is slated to roll back to $5 million on Jan. 1, said Representative Antonio F.D. Cabral, a longtime supporter of expanding the program.

The proposals the House and Senate have each passed would increase the annual cap on credits under the Housing Development Incentive Program, or HDIP, to $57 million initially, and then set it at $30 million annually after the first year….”

https://www.boston.com/news/the-bos...ligned-on-one-of-the-first-of-many-responses/
 
The code is the first step. I know its not pretty but rooming houses should be allowed again at this point. Maybe it could have a 10 or 15 year sunset clause to alleviate people fears of never ending slums?
 
AndreyD said:
First American City to Tame Inflation Owes Its Success to Affordable Housing

Rent growth in Minneapolis since 2017 is just 1%, compared with 31% in the US overall, according to the Pew Charitable Trusts. Its share of affordable rental units and ratio of rent to income are better than most comparable US metro areas.

Source: https://www.msn.com/en-us/money/rea...its-success-to-affordable-housing/ar-AA1eZSg4
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This actually isnt surprising when I read this. Ive been passively following Minneapolis development as I do a few other places that I may have to consider moving to in order to afford rent, and theyve built literally like 5,000 new 5 over 1’s in the past few years. You can just go on google maps and look around and theyre everywhere. Theyve added entire new neighborhoods of medium density housing along their transit corridors in huge numbers and it definitely shows up when you look up the rent prices there. Minneapolis is always one of the top cities that comes to mind when I think of us cities that are adding huge numbers of medium density neighborhoods. Seattle is just starting to get there too in the immediate core but theyre hemmed in on all sides by water vs Minneapolis which has tons of land in all directions around the core to grow. Its really starting to be a pretty appealing city with their light rail expansions coming soon too. I think a lot of other cities could learn a thing or two from there.
 
Boston offers incentives to turn empty offices into affordable housing
The city of Boston will now offer developers up to a 75% reduction in the residential tax rate for 29 years if they convert offices into apartments.


“As cities and towns across the country grapple with ways to solve the affordable housing crisis, the city of Boston is hoping empty office spaces might be part of the solution.

This year, office vacancy rates in the U.S. hit a 30-year high, ticking up to 17.8%. Fueled by recession fears and hybrid working, the office vacancy rate in Boston is now at 19%.


But plans are in the works to bring life back to empty offices in Boston while also addressing a severe lack of affordable housing.

Last month, Boston Mayor Michelle Wu announced plans to help incentivize turning empty commercial office space into residential housing.The city will now offer developers up to a 75% reduction in the residential tax rate for 29 years if they convert offices into apartments. As part of the plan, 20% of units would have to be considered affordable housing.

"It's a national crisis, not just in Boston," said Anne Corbin-Fennell with Action for Boston Community Development.

Nationwide, an estimated 7.3 million Americans need affordable housing, according to the National Low Income Housing Coalition.

"They are trying to figure out: Do I eat or pay rent?" Corbin-Fennell said.

Since the start of the pandemic, several communities nationwide have floated the idea of turning offices into residential housing. None, though, have put the funding in place like Boston is doing….”

https://www.katc.com/boston-offers-incentives-to-turn-empty-offices-into-affordable-housing
 
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"The Archdiocese of Boston and its partner St. Francis House on Wednesday formally notified the Boston Planning & Development Agency about their plan to convert a shuttered hotel into affordable housing in Charlestown.

The project will feature 100 affordable rental units... Of those, 52 units will be restricted to households with annual incomes of $30,000 to $83,000, while 48 units will be supportive housing for households headed by women or veterans only.

The hotel, operated by the YMCA of Greater Boston as a gym and pool, sits on land owned by the BPDA. The Planning Office for Urban Affairs and the St. Francis House have taken over the YMCA’S long-term lease in hopes of redeveloping the site into affordable housing.

www.bostonglobe.com

âItâs good for the cityâ: Plan officially filed to convert shuttered Charlestown hotel to affordable housing - The Boston Globe

The Archdiocese of Boston and its partner St. Francis House on Wednesday formally notified the BPDA about their plan to convert the shuttered Constitution Inn into much-needed low-income housing, including some for formerly homeless people.
www.bostonglobe.com www.bostonglobe.com
 
The question how is housing getting unaffordable the overall masses in the state.
stick n move said:
Boston offers incentives to turn empty offices into affordable housing
The city of Boston will now offer developers up to a 75% reduction in the residential tax rate for 29 years if they convert offices into apartments.


“As cities and towns across the country grapple with ways to solve the affordable housing crisis, the city of Boston is hoping empty office spaces might be part of the solution.

This year, office vacancy rates in the U.S. hit a 30-year high, ticking up to 17.8%. Fueled by recession fears and hybrid working, the office vacancy rate in Boston is now at 19%.


But plans are in the works to bring life back to empty offices in Boston while also addressing a severe lack of affordable housing.

Last month, Boston Mayor Michelle Wu announced plans to help incentivize turning empty commercial office space into residential housing.The city will now offer developers up to a 75% reduction in the residential tax rate for 29 years if they convert offices into apartments. As part of the plan, 20% of units would have to be considered affordable housing.

"It's a national crisis, not just in Boston," said Anne Corbin-Fennell with Action for Boston Community Development.

Nationwide, an estimated 7.3 million Americans need affordable housing, according to the National Low Income Housing Coalition.

"They are trying to figure out: Do I eat or pay rent?" Corbin-Fennell said.

Since the start of the pandemic, several communities nationwide have floated the idea of turning offices into residential housing. None, though, have put the funding in place like Boston is doing….”

https://www.katc.com/boston-offers-incentives-to-turn-empty-offices-into-affordable-housing
Click to expand...

Just curious is this subsidize housing also? Housing is not affordable to the masses at this point and why is local govt's subisidizing
 
  1. Subsidizing Condo Units: When governments subsidize condo units or provide incentives to developers, it's often done to encourage economic growth, revitalize areas, or address housing shortages. However, if these subsidies are mismanaged or disproportionately benefit developers without sufficient public benefit, it can indeed be seen as a misuse of taxpayer funds.
  2. Impact on Rental Prices: Subsidizing condo units can potentially drive up rental prices if it diverts resources and attention away from affordable rental housing. If more resources were allocated to affordable housing, it could help alleviate rental price increases.
  3. Traffic Congestion: New developments can lead to increased traffic congestion if the infrastructure and transportation planning do not keep pace with the growth. This is a common challenge in rapidly growing urban areas.
  4. Tax Revenue: If the subsidies and deals for developers result in significant revenue losses for the state, it can have long-term negative consequences for public services and infrastructure. Striking a balance between economic development and maintaining tax revenue is crucial.
  5. Affordability: Housing affordability is a critical issue in many regions. Balancing the need for affordable housing with property development and economic growth is a challenge that policymakers face.
  6. Leadership: Public policy decisions are made by elected officials and are influenced by various factors. If you believe that your leaders are making bad deals for taxpayers, it's important to engage in civic participation, such as voting, advocacy, and communicating your concerns to elected representatives.
 

Chicago Approves Building Permit To Convert Affordable Housing Tower Into Single-Family Home​

Published Monday 7:54AM

LINK


Image for article titled Chicago Approves Building Permit To Convert Affordable Housing Tower Into Single-Family Home

CHICAGO—In a move that remained controversial among residents of the surrounding neighborhood, Chicago city officials approved a building permit Monday that would allow the conversion of a publicly funded affordable housing tower into a single-family home. “This 25-story single-family residence will address a dire need for permanent shelter among one local family of four,” said luxury real estate developer Brant Gellar, detailing plans to knock out the majority of walls from all 220 units in one of the Northwest Side’s only public housing developments in order to better serve the dwelling needs of the La Pierre–Richardson family, who have already paid cash to purchase the building outright. “For concerned locals, rest assured this project will dramatically raise property values in the area once we evict all the current occupants and they begin to frantically compete for a place to live nearby. Plus, what was once nothing more than an eyesore will now be covered in brand-new siding of neutral millennial gray.” At press time, the house was reportedly back on the market for $600 million after the family decided they’d rather live in the suburbs. (for those that don't know; the onion is satire !)
 
Maybe not an idea for fixing the housing crisis per se, but the Globe Spotlight team just announced a new series on the housing crisis in MA. Preview at the link below.

apps.bostonglobe.com

Coming soon: Beyond the Gilded Gate, a Boston Globe Spotlight Report into Massachusetts' housing crisis

People from in and around Boston are being challenged by the region's housing crisis in ways never before seen.
apps.bostonglobe.com apps.bostonglobe.com

There's also some great, unequivocal YIMBY style language in the slick preview:

"Why is this happening? A lack of supply. The Boston metro area has one of the nation's lowest vacancy rates — an indication supply is extremely tight. Greater Boston isn't producing the housing units needed to meet demand. The region issued fewer housing permits per capita than many major metros."
 
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