Office to Residential Initiative
A Familiar Concept for FHA MAP Programs
The DOT is releasing new guidance on how TIFIA and RRIF can be used for Transit Oriented Development (TOD). HUD is updating a notice on how CDBG can create housing supply by converting commercial properties. HUD's Office of Policy Development and Research (PD&R) dedicated the entire Q3 Evidence Matters peer publication to this pertinent topic. However, this innovative concept is nothing new within the FHA MAP programs.
HUD's Office of Multifamily Housing has fostered transformative initiatives through programs like Section 220 (urban revitalization) and Section 221 (multifamily loan). Over the years, these programs have facilitated numerous complex conversions, and D3G takes pride in its involvement in some shining examples of what can be achieved:
777 Main Street, Former Bank of America Building, Hartford, CT – 1967: A remarkable transformation of a 26-story office building into 286 residential units.
Inman Textile Building, Spartanburg, SC – 1900's: Breathing new life into a historic mill from the 1900s, converting it into 210 modern residential units.
Iowa Mutual Insurance Building, DeWitte, IA – 1974: Repurposing a 1974 office building in DeWitte, Iowa, into a charming residence featuring 57 units.
The Starks Building, Louisville, KY – 1913: A testament to preservation and innovation, the conversion of a 1913 historic office building in Louisville resulted in 264 unique residential units.
These projects exemplify the versatility and impact of HUD's multifamily programs. D3G's involvement in these success stories underscores our commitment to pushing the boundaries of what can be achieved in housing development.