D.C.’s Office to Anything Program: Reimagining Urban Real Estate
January 2025 | Category: News
By Rebecca Urland Monzi On January 14, 2025, Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Economic Development launched the Central Washington Activation Projects Temporary Tax Abatement, commonly known as the “Office to Anything” program. This initiative addresses a critical issue in Washington, D.C.’s commercial real estate market: the oversupply of underutilized office buildings. This program is pivotal for stakeholders in Washington, D.C. commercial real estate. It has the potential to transform the city’s urban core while creating new opportunities – as well as challenges – for property owners, developers, and tenants. The Office to Anything Program: An Overview The Office to Anything program offers a 15-year temporary property tax freeze to incentivize the conversion of vacant or underused office spaces into other property types, such as retail, hospitality, or mixed-use developments. The total of available tax abatements is subject to a cap of $5 million for 2027, $6 […]