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Mayor Eric Adams revealed a bold plan today to convert underutilized office buildings into affordable housing, addressing both the city’s housing crisis and high commercial vacancy rates. The initiative, dubbed Spaces for Living NYC, will focus on Midtown Manhattan, where office vacancies remain above 20%.
“This is a win-win for our city,” Adams said. “We’re reimagining our urban spaces to meet the needs of New Yorkers.”
The program includes financial incentives for developers and zoning changes to facilitate conversions. Housing advocates welcomed the move but emphasized the importance of ensuring units remain affordable for working families.
