March 28, 2025
This week, U.S. Reps. Mike Carey (R-Ohio-15) and Jimmy Gomez (D-Calif.-34) reintroduced their bipartisan Revitalizing Downtowns and Main Streets Act to incentivize the conversion of existing vacant and underutilized commercial properties into new housing.
“This bill reaches beyond the urban core and into cities and communities of all sizes across the country,” said Selvitelli. “Its impact on local tax revenues will replace dollars lost to underutilized and defaulted properties, and it provides building owners with the opportunity to create more sustainable, energy-efficient spaces. We encourage the House to move quickly on this important bill, and NAIOP looks forward to productive discussions within the House and Senate so a bill can be enacted into law.”
NAIOP congratulates Reps. Carey and Gomez for their leadership on this important bill. Together with our coalition partners, NAIOP recognized an issue, identified a solution, and began working to move it forward. As this bill progresses, we expect our 21,000+ members in cities large and small will be called on to share their experiences and voice their support.
As this legislation progresses, NAIOP members will be activated to voice support and communicate the needs of their communities. To learn more about NAIOP’s legislative position and work on adaptive reuse, visit naiop.org/adaptive-reuse.