Mayor Bowser Announces First Office-To-Residential Projects To Receive Tax Abatements
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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:
- A 157-unit residential conversion planned for the former headquarters of the Air Line Pilots Association International at 1625 Massachusetts Avenue NW.
- The conversion of the Universal buildings at 1825-1875 Connecticut Avenue NW (map) into The Geneva, a residential development with upwards of 525 apartments.
- A 11-story, 72-unit residential conversion at 615 H Street NW (map) in Chinatown. The address was formerly home to Ming's Restaurant, but has been vacant for years.
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.
See other articles related to: dc office-to-residential conversions, office-to-residential
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/mayor_bowser_announces_first_office-to-residential_projects_to_receive_tax_/22677.
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