Posted on 10/30/2023 2:56:41 PM PDT by EBH
How much land does the government own out west? Now they are taking over commercial real estate in major cities?
Odd...Stalin comes to mind.
Feds should be forced to auction 95% of their holdings.
LOL.
Idiots.
The cost and complications of converting Commercial Office plumbing to Residential, Family plumbing is mind boggling.
Oh, I forgot! The goal is to bankrupt America.
This is done to benefit illegals. Free money and housing, just so long as you aren’t a U. S. citizen.
And they don’t recognize that living in commercial use building is a primer for disaster?
Who, exactly is behind such stupidity?
Cabrini Green New Deal
They are diabolically brilliant actually because they’ve already aligned themselves with the eventuality that it be a complete disaster. Some how, some way, they will profit on this country becoming a smoldering garbage heap. It’s part of the socialist plan and investment portfolio.
And it will be scooped by the same foreigners who are buying up the properties and pricing out Americans.
Not really. You can set up cots and micro-kitchens where the office space is, and the bathrooms can become communal. You can attach a hand-held shower to the sink faucet and there's your shower. It makes sense if they're putting the illegals in there, and the illegals won't care because it's better living than the craphole they fled from.
You wouldn't have to really tear down anything other than close office walls to make more room.
Don’t forget the lead-based paint and asbestos insulation in the older buildings.
With a good chunk of federal workers working at home, some government office buildings are 80% vacant (there was a story the other day) ...
The cost to renovate is high, the buildings worked economically as commercial until the pandemic, now they Don’t and some one will eat the loss. Save pollution, WTF? Mass Transit, that does not work with the high crime and oh how’s that High speed train coming California? This is to bail out lenders and commercial building owners, that’s the plan......
This will end up being nothing more than a bailout for commercial property owners.
10% for the Big Guy.
Housing for the illegal immigrant Chinese/Venezuelan/Guatamalan/Nicaraguan/Afghan/Iranian/Nigerian/Honduran military men, cartel, and gangs.
With all of the retail stores shutting down due to theft and robbery, this could help them to avoid bankruptcy.
Developers say conversions can be completed more quickly than new construction at costs up to 20 percent cheaper than demolish-and-rebuild projects.
Several existing federal programs already support commercial-to-residential conversions, and the Biden-Harris Administration aims to further facilitate commercial-to-residential conversions through new actions announced today through its Housing Supply and Action Plan. The Community Development Block Grant, which provides $3 billion annually to support community housing and revitalization projects for low- and moderate-income families, and new actions make it easier to use these funds for acquisition, pre-development and construction associated with conversions. This compliments other actions like HUD’s recently announced $860,000 in grant funds to study office-to-residential conversions undertaken since the pandemic. Similarly, new DOT policies unlock $35 billion in available lending capacity for development projects at below market interest rates, which will make conversions easier to finance.
The announcement today also catalogues the broad set of federal tools that can be used for conversions. This includes the Historic Tax Credit, which has supported more than 47,000 properties and created more than 150,000 low- and moderate-income housing units since its inception. New opportunities will continue to arise.
You're thinking in terms that the government will actually create 1 or 2 bedroom apartment units in commercial buildings.
They will do no such thing.
All they have to do is make minor renovations such as getting rid of the individual office units or spaces. If the people need privacy, they can put up cubicles (which may be already there) or install room dividers.
We have 30 million welfare recipients in this country that could be deported to their home countries along with their children.
No way would anyone want to live in a government affordable housing...they are a crime ridden trash heap now. Imagine after these conversions are done?
Be like those apartment cages in Hong Kong? https://youtu.be/hLrFyjGZ9NU?si=JwWf9AWbgVxvev5X
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