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InvisibleballsalsaMDiscord
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Registered: 03/11/15
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Re: Cities should encourage the conversion of empty office space [Re: Brian Jones]
    #28318325 - 05/13/23 01:09 PM (8 months, 11 days ago)

Those fish are going to take huge concessions in exchange for buying out the "troubled assets" then lobby to have them rezoned as residential or mixed use properties anyway so they can build condos or shopping centers with luxury apartments overhead.  All I'm saying is that cities should get out ahead of it before the biggest banks can consolidate it all.


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Offlinechristopera
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Registered: 10/13/17
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Re: Cities should encourage the conversion of empty office space [Re: ballsalsa] * 2
    #28321627 - 05/16/23 08:03 AM (8 months, 8 days ago)

https://triblive.com/local/pittsburghs-ura-provides-1st-loan-to-help-convert-vacant-downtown-office-space-into-housing/

Quote:

Pittsburgh’s Urban Redevelopment Authority is awarding its first loan from a program that aims to help developers create affordable housing in vacant Downtown office space.

Last week, the URA board unanimously approved providing a $300,000, 0% interest loan to Hullett Development Triangle to help it convert unused space in the six-story Triangle Building on Liberty Avenue into 15 apartments.

The project is expected to cost nearly $13.3 million, said David DiBernardo, a lending analyst in the URA’s residential lending department.

“After years of neglect, this building has fallen into disrepair and became completely vacant,” he said. “This project will restore this historic triangle building to its former glory.”




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