Many office buildings are sitting vacant, or at least partially vacant, across the country since the work from home push of Covid-19.
[DOWNLOAD: Free WHIO-TV News app for alerts as news breaks]
Ohio Congressman Mike Carey is looking to make it easier for developers to convert office buildings into residential housing through his bill called Revitalizing Downtowns and Main Streets Act.
TRENDING STORIES:
- Officers searching for 2 kids accused of robbing Riverside gas station
- Work begins to identify human remains found while renovating porch in Greene Co.
- Woman accused of attacking 11-year-old at public park, slamming head into slide
“Because a lot of times these buildings have a 28%, 29% vacancy rate,” Carey said to our news partner WBNS. “That’s why you’re seeing a lot of these fall into debt.”
The bill would give developers a federal tax credit, worth 20 percent of the costs of renovation, to convert underused officer buildings into housing. The bill requires that no less than 20 percent of the housing be available for people making 80 percent or less of the area’s median income, according to WBNS.
“It’s easy to turn them into condos when they’re $450,000 to $1.5 million, but it’s really hard to do it when it’s for somebody that’s trying to get into affordable housing,” Carey said to WBNS.
The full text of the Revitalizing Downtowns and Main Streets Act by clicking here.
[SIGN UP: WHIO-TV Daily Headlines Newsletter]
©2025 Cox Media Group
