Rep. Ro Khanna pushes plan to convert vacant office buildings into housing
Converting vacant office buildings into housing
U.S. Representative Ro Khanna authored a provision focused on increasing housing development within designated opportunity zones.
Washington, D.C. (KTVU) - U.S. Representative Ro Khanna authored a provision focused on increasing housing development within designated opportunity zones.
The proposal specifically targets underutilized office real estate for conversion into residential units.
The initiative aims to address affordable housing needs as remote work trends leave Bay Area office buildings vacant.
Representative Ro Khanna outlined a legislative push aimed at converting underutilized commercial real estate into affordable housing units across the Bay Area.
The initiative specifically targets opportunity zones, focusing on office buildings that have seen a significant drop in foot traffic and occupancy. According to Khanna, the shift toward remote work has left a substantial amount of office real estate vacant or underused, presenting a unique opportunity for residential redevelopment.
The authored provision details mechanisms to streamline the construction of new homes within these zones, repurposing underutilized commercial spaces to help alleviate the region's ongoing housing shortage.