Boston Offers Tax Breaks to Convert Offices to Housing

Can tax incentives boost Boston's affordable housing and foot traffic?

Boston Massachusetts
(Image credit: Getty Images)

Fall is the season for real estate developers in Boston, Massachusetts to apply for significant tax breaks. The aim is to convert office buildings into residential housing. Boston Mayor Michelle Wu has proposed this new tax incentive to tackle the issue of empty offices in Boston post-pandemic and to increase foot traffic, which is essential for small businesses in cities to thrive. High rent prices in Boston and other places like New York City have made affordable housing even more crucial.

“One building could potentially create hundreds of new housing units that could include a lot of affordable units,” Mayor Wu told Boston Public Rado hosts during a recent "Ask the Mayor” segment. “Every little bit helps in our housing crisis,” Wu said.

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Kelley R. Taylor
Senior Tax Editor,

As the senior tax editor at, Kelley R. Taylor simplifies federal and state tax information, news, and developments to help empower readers. Kelley has over two decades of experience advising on and covering education, law, finance, and tax as a corporate attorney and business journalist.