The US Department of Housing and Urban Development has announced a new grant program to develop case histories of office-to-residential projects that have been undertaken since the start of the pandemic.
HUD said in its release that it will provide up to $860K for case studies that will "improve understanding of the financing limitations associated with conversions and the policy reforms and subsidies that can make projects more economically viable."
Applicants for the grants also are being asked to propose metrics to evaluate the impact of conversions on housing affordability and other outcomes, and to develop a best-practices guide for local leaders and developers.
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