New York’s office to residential conversion program draws interest from 64 owners

New York City’s Office Conversion Accelerator Program has been contacted by the owners of 64 commercial buildings interested in converting their properties to residential use.

The program provides a single point of contact within city government to help speed adaptive reuse projects that provide 50 or more housing units. New York wants to create up to 20,000 apartments from commercial buildings over the next decade to help address a housing shortage.

The accelerator program consists of representatives from the mayor’s administration, the Department of City Planning, the Department of Buildings, the Department of Housing Preservation & Development, the Board of Standards & Appeals, and the Landmarks Preservation Commission. Representatives from these agencies analyze the feasibility of proposed conversion projects and help with securing permits.

Since last summer when the program was launched, four office buildings involved with the accelerator program have converted to residential units or begun construction, according to published reports. The largest adaptive reuse project underway in Manhattan is at the former home of the New York Daily News. That project will create 1,300 apartments.