If the city is able to convert these offices (and there are a lot of them) into expensive market rate apartments that is a step in the right direction. THEN the city and people can have the option to BUILD new affordable housing. So now there is housing stock for high, medium and low earners.

Will that happen? I fully doubt it. Every conversion and new project will be marketed to luxury renters and the “affordable” housing will be smaller/independent landlords.