Revitalizing Vacant Properties for Workforce Housing Act

To expand housing supply and reduce cost-of-living pressures, this bill would direct the Department of Housing and Urban Development, in coordination with the Department of the Treasury, to establish a competitive federal tax incentive and grant program for the conversion of long-term vacant or underused commercial properties into workforce and middle-income housing, with priority for projects near transit, downtown corridors, and essential employment centers; require participating projects to meet basic safety, local zoning, and community-impact standards; encourage mixed-use redevelopment that supports small business activity and neighborhood stability; and require annual reporting to Congress on units created, affordability outcomes, and program effectiveness.