BILL WOULD INCENTIVIZE CONVERTING EMPTY OFFICE BUILDINGS

A Pennsylvania state lawmaker says he’ll introduce legislation that will encourage developers to convert nearly-empty office buildings for other uses. Democratic Representative Ben Waxman of Philadelphia says giving developers tax credits or other incentives could help convert offices into housing, science labs or retail space. He’s said he’s creating the legislation because many urban buildings are facing possible default because COVID created a surge in remote and hybrid work.  Waxman also believes such incentives will help give people reasons to come back to downtown districts and revitalize urban areas.