On paper it sounds like a great idea, realistically the government needs to actually buy the property from them or at least a share of ownership otherwise it will be exactly the same with cable companies getting subsidies to “upgrade” infrastructure only to pocket the majority and leave the tax payers in the dark. I’m so over blackrock and their ilk screwing us over at every turn
Yeah I think this is an excellent use of Federal funds. Ive heard of some of these projects, and they all seem pretty wise use of funds, and took some public feedback. Here, we’re not calling buildings blighted and knocking them down - we preserved these unused buildings for the day funding like this would arrive to repurpose them.
makes sense - a lot of commercial real estate remain vacant in many cities, businesses having since gone bankrupt, relocated (due to crime usually), or the employees have been working remotely and are never going to return.
the conversion process isnt going to be cheap though. Feds are going to have to spend a LOT to convert commercial property to residential property - especially in plumbing and reinforcement as there will be significant changes in load-bearing structures.
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