Downtown Residential Conversion Incentive Program Projects

Boston, MA

The Downtown Residential Conversion Incentive Program in Boston is a city-led initiative to transform underutilized office buildings into residential units, targeting the Downtown/Financial District, Chinatown, Bulfinch Triangle, Leather District, and Fort Point Channel Historic District. The program offers payment in lieu of taxes (PILOT) incentives and regulatory streamlining to encourage developers to create new housing, including affordable units, in response to post-pandemic shifts and high office vacancy rates. As of late 2025, the program has received 15 applications to convert 20 office buildings into 762 homes, with several projects already under construction and more approvals expected on a rolling basis. The initiative is central to Boston’s strategy for downtown revitalization, aiming to deliver 1,000 new housing units and convert 1 million square feet of office space by 2026.