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DC Launches Downtown Office Conversions Program
Washington, D.C., has launched a new initiative, the Housing in Downtown program, offering a 20-year tax abatement for office-to-residential conversions in the city’s downtown area. With the submission window opening on March 22, the program is set to kick off, offering $41 million in total funding caps from FY24 to FY28.
“We have seen in other parts of our city how having the right balance of residents and workers can sustain a vibrant and thriving neighborhood,” said Mayor Bowser. “Innovative projects like the Elle have already made DC a national leader in office-to-residential conversions, and now we can bring in even more partners to reach our goals and continue the transformation of Downtown.”
The Elle apartments, which broke ground in 2022 on the site of the former Peace Corps headquarters at 20th and L Streets NW, will feature 163 residential units across 185,000 square feet in Downtown DC.
- ◦Development
