[adwi]

There needs to be a large pool of government-backed capital specifically for commercial to residential redevelopment and fast-track zoning approvals for this (somewhere along the line of City of Yes proposal in NYC).

Make it 4-5%, contingent upon (or give additional subsidies for) making significant percentage affordable rentals. Use the cash to cut the centers out of the building to daylight the large floor plates.

Residential rents for much more/ft than commercial so shouldn’t be a problem floating existing commercial mortgages. Maybe there’s even a program to borrow against the future higher stream of income to get non-performing loans current so these banks hold the existing paper instead of taking the write down.

[JumpCrisscross]

> needs to be a large pool of government-backed capital specifically for commercial to residential redevelopment and fast-track zoning approvals

There is no shortage of capital in real estate. Simplify approvals and the builders will come.