A total of 46 buildings are enrolled in NYC's Office Conversion Accelerator – a program to facilitate the conversion of old New York City office buildings into residential space – according to an exclusive by Axios. Four have already begun the conversion process, and are expected to create more than 2,100 housing units, a spokesperson for Mayor Eric Adams' administration told the publication.

Axios also reports that the mayor's office is also proposing to eliminate some of the red tape hampering the conversion process and those changes could get a City Council vote this year. They include:

• Conversion eligibility for any building constructed prior to 1990. Currently the cutoff is 1961 or 1977, depending on the area.
• Allowing non-residential buildings to convert to housing anywhere in the city that residential uses are permitted. Right now, conversions are allowed only in a small number of office districts.