“So the government will need to subsidize”
No, the government doesn’t “need” to do anything except stay out of the way.
I’m not asking for the government to step in, but the large office business is dead. The article I read said the only way for conversion to residential to work was with a subsidy. Currently the buildings are not generating enough revenue to pay the taxes, pay the mortgage, nor the investors. So this is going to be an issue. Will all downtowns look like Detroit?
Current business model no longer works, conversion to residential is too expensive and does not solve the problem. Loans go unpaid..... recipe for a very bad time for major downtowns of America.