Authorizes conversion of certain office parks and retail centers to mixed-use developments.

This bill authorizes developers to convert vacant office parks (50,000+ sq ft, 40% vacancy) and retail centers (15,000+ sq ft, 40% vacancy) in designated suburban areas into mixed-use developments without needing local zoning variances. It creates a two-year window for applications, requiring projects to reuse existing building footprints (or enhance stormwater management/tree canopy if expanding) and include 20% affordable housing units. The bill also mandates improved multimodal transportation access and directs the Department of Community Affairs to inventory these properties and report annually. It directly affects property owners and developers seeking to repurpose underutilized suburban sites while maintaining local control over parking, design, and other standards.