The White House announced a plan on Friday to help commercial property owners — with a focus on office — convert buildings to residential use.
"These announcements will create much-needed housing that is affordable, energy efficient, near transit and good jobs, and reduce greenhouse gas emissions, nearly 30 percent of which comes from the building sector," a Biden administration fact sheet noted.
However, an initial review by GlobeSt.com of the available documents suggests that the announcements and actions look to open existing programs to conversion projects and don't provide net new funding, which means more competition for the same funds.
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