The Biden–Harris administration announced a set of initiatives by several federal agencies to support the conversion of high-vacancy commercial buildings to residential use, including through new financing, technical assistance and sale of federal properties. The administration says these actions will create affordable and energy-efficient housing near transit and good jobs and will reduce greenhouse gas emissions, nearly 30 percent of which come from the building sector. The White House released a related Commercial to Residential Federal Resources Guidebook, with more than 20 federal programs across six federal agencies that can be used to support conversions, and announced training workshops will be offered this fall for local and state governments, real estate developers, owners, builders and lenders on how to use federal programs for commercial to residential conversions and achieve additional goals, including affordability and building zero emissions housing.
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