Boston extends office-to-housing conversion program until 2025

Mayor Michelle Wu is extending Boston’s pilot program turning offices into housing until the end of 2025.

• And she’s offering a collective $15 million in state funding as an incentive.

Zoom in: Gov. Maura Healey and Wu announced the extension Monday.

• The $15 million would help building owners cover some of the conversion costs.
• Each building owner could get up to $215,000 per affordable unit or up to $4 million per project.

State of play: The pilot has received nine applications since October to turn 13 office buildings into apartment or condo buildings.

• They include about 412 housing units.
• The city projects it will see at least another 300 units of housing approved by extending the program.
• If approved, those building owners can get a 75% property tax break for up to 29 years as long as they keep 20% of the units affordable.

City planning officials have approved two of the applications, at 281 Franklin St. and 85 Devonshire St .

• Construction on those buildings is set to begin later this summer, per the city.

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