Opinion: Revise Zoning and Tax Codes To Support Adaptive Reuse of NYC Office Space

A piece written by the New York Daily News Editorial Board encourages city policymakers to "make it easier for buildings to be repurposed into different types of space that will actually serve our social environment and economy" as office buildings continue to see high vacancy rates and remote work reshapes the traditional central business district.

According to the editorial,

The most obvious choice is conversions to residential usage, but it’s by no means the only approach. Retail, gallery, even high-tech manufacturing or vertical farming should all be on the table to help use the COVID crisis as an opportunity to transform Midtown and other office-heavy areas for the better. Let the market decide.

The editorial board recommends that the city revise its "onerous and restrictive zoning ordinances, which sometimes make conversion of office space impossible, or at other times merely make it a massive, costly and logistical headache," as  well as reform the property tax code to "which has long piled burdens on renters and other classes of property — including commercial tenants."