(J09) DC’s Post Pandemic Urban Evolution: A Focus on Office to Residential Conversions

Like many cities across the US, the District of Columbia is experiencing both a chronic affordable housing shortage and post-pandemic vacancies in commercial real estate. Office to residential conversions may be an opportunity to transform the city’s commercial core, supporting equity, climate, housing and economic development goals along the way. This session will address the costs and regulatory and physical challenges associated with conversions. Panelists will present tangible examples from DC’s Golden Triangle Business Improvement District and offer strategies for implementing projects in other cities around the country. Zoning and building code barriers as well as tax breaks and financial incentives will be discussed.

Background material:
DC’s Comeback Plan, (https://mayor.dc.gov/release/mayor-bowser-unveils-dcs-comeback-plan)
• Create 35,000 new jobs in high-growth target sectors, which will include increasing apprenticeship programs and filling gaps in training and credentialing;
• Increase the share of minority-owned employer businesses to 33% of all employer businesses;
• Increase access to opportunity for residents and eliminate key amenity gaps (food, housing, and internet) across all neighborhoods;
• Add 15,000 residents to the Downtown population by adding seven million square feet of residential units;
• Retain current residents and reach a population of 725,000;
• Increase economic prosperity in DC by lifting the median household income of Black residents by $25,000.

Resources:
https://www.forbes.com/sites/richardmcgahey/2022/12/09/converting-offices-to-residences-can-help-fight-the-housing-shortage/?sh=5a335ed97eb3
https://www.commercialedge.com/blog/national-office-report/
https://www.nrdc.org/sites/default/files/air_06031001a.pdf