DC Tax Relief Can Aid Office Projects, But It's No 'Silver Bullet'

Land use attorney Christine Shiker was quoted in a Law360 article discussing Washington, D.C.'s new tax incentive programs aimed at repurposing the city's vacant office buildings. Ms. Shiker noted a significant interest from many clients in the Housing in Downtown program, which offers tax abatements for converting office spaces into apartment buildings with a portion designated for affordable housing. She pointed out that while the affordable housing requirement is seen as a disincentive to some investors, those operating in mixed-use zones find the proposed abatement helpful in making projects financially viable.  

"Based on my work with clients, the affordable housing component - especially as applied to projects that are not otherwise required to provide affordable housing - seems to be the largest disincentive to the program," she said. 

READ: DC Tax Relief Can Aid Office Projects, But It's No 'Silver Bullet' (Subscription required)