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The federal government’s new initiative effectively acts as a technical bailout for private real estate developers. Through low-cost loans—around $35 billion made available via the Department of Transportation—developers will have access to what some are describing as “free money.” Additional funding sources and tax incentives will supplement these loans, although details remain unclear.
Furthermore, the government intends to create a comprehensive list of properties in urban areas, likely including many government-owned buildings, which could be sold to private developers. According to some estimates, the federal government owns about 1,500 office buildings across the country, many of which were purchased with taxpayer dollars.