If you use it to build homes you provide shelter for more people.
Good point, although you need to be sure you aren't counting the wood you replace it with as more carbon storage. Every wooden house essentially provides a fixed amount of carbon storage, no matter how much of it is replaced, and only as long as it stands.
https://www.youtube.com/watch?v=e5XsqauBCX4
There are many other wood-based buildings higher than that being planned. The key for most of them is the use of various hybrid wood-laminates.