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The impact of government sustainability incentives on office space
Offices which lack sustainable features and suffer from weak demand can avoid obsolescence by being refurbished into modern offices or repurposed to other uses, such as residential. In the US, the Biden-Harris administration is supporting conversion of high vacancy commercial buildings to residential with the aim of creating affordable, energy-efficient housing near transit and good jobs. In 2023, the White House released the “Commercial to Residential Conversions”…