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[ Tue, Dec 10th 2024 ]: MoneyWeek
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Half of Mayor Eric Adams' latest matching campaign fund claims deemed 'invalid'

The article from Yahoo News discusses New York City Mayor Eric Adams' latest initiative to address the city's housing crisis by proposing to convert empty office spaces into residential units. Adams highlighted this plan during his State of the City address, suggesting that with remote work reducing the demand for office space, these buildings could be repurposed to help alleviate the housing shortage. The mayor's proposal includes potential zoning changes and incentives to encourage developers to undertake these conversions. This approach is seen as a dual solution to both the surplus of vacant commercial real estate and the acute need for more housing in one of the most expensive real estate markets in the U.S. However, the article notes that such conversions face significant challenges including high costs, the need for extensive renovations, and regulatory hurdles.

Read the Full Yahoo Article at:
[ https://www.yahoo.com/news/half-mayor-eric-adams-latest-220500761.html ]


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