Fiscal Fallout of Boston's Empty Offices

The market for office space is foundering, and Boston is especially vulnerable.

As a result of the ongoing collapse in office values, Boston is likely to face a cumulative revenue shortfall of more than $1 billion in the next five years. And with no clear prospect for recovery, such shortfalls could persist for decades, triggering a long-term decline in public services and economic vitality.

How bad will things get? And what can be done to avoid a true urban “doom loop,” where declining tax revenues make Boston a less safe and attractive place to live? We partnered with the Center for State Policy Analysis at Tufts University to better understand the current issues and model the fiscal implications.

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