Developer hopes to convert Court Square office building into housing #MABA #MassachusettsRealEstate #FirstTimeHomeBuyers #MaBuyerAgent

 A Boston office building may soon become housing under the city’s office-to-residential conversion program. Woburn-based Court Square Equity Partners LLC has filed a Small Project Review application with the city’s planning department for a proposal to convert the fifteen Court Square office building into residential units. The developer is looking to convert the existing office building from business use to residential apartments in accordance with Boston’s Downtown Residential Conversion Incentive Program.

 Launched in October 2023, the program encourages developers to convert underutilized offices into residences. The program was extended in July following Mayor Michelle Wu and Gov. Maura Healey announcing the state would offer $15 million to incentivize the conversion of larger-scale office buildings in Boston into housing. These projects are often more costly due to their complexity. The funding aims to address housing shortages by repurposing existing office spaces, thereby creating more residential units.

 The fifteen Court Square plan calls for converting the office space into eighty residential rental apartments and amenities on floors two through 11. The first floor and lower level will remain for retail use. The apartments will be a mix of forty two studios, twenty one-bedroom units and eighteen two-bedroom units. The developer plans to offer seventeen percent of these units as Inclusionary Development Policy units. “The conversion program has opened the door for projects such as this one to create an abundance of new housing in Boston at a time where the city is in great need of residential opportunities,” the applicant said in the filing.

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