The City of Yes Conversion Text Amendment was adopted as part of the City of Yes for Housing Opportunity initiative in 2024 and expanded developer ability to convert older commercial buildings into housing. Before the amendment, the majority of office-to-residential conversions were limited to buildings built before 1961. The City of Yes Conversion Text Amendment widened eligibility by allowing residential conversions of buildings constructed before 1991 and extending conversion opportunities citywide. As a result, thousands of additional office and commercial buildings became eligible for residential conversion as-of-right. This means property owners can pursue conversions without seeking a rezoning if all zoning and building code requirements are met. Redevelopment options have significantly expanded for owners of pre-1991 office buildings. A building that did not qualify for residential conversion under previous laws can now become apartments, allowing certain owners to respond to the changing demands of the NYC real estate market, taking advantage of housing incentives like 467-m. The primary impact of the City of Yes Conversion Text Amendment was not tax incentives, but the removal of zoning barriers that previously prevented office-to-residential conversions from taking place.