The idea of converting vacant hotels into affordable housing took hold after the pandemic decimated the hotel industry.
The former Park 79 Hotel on Manhattan's Upper West Side has been converted into affordable housing for seniors.The former Park 79 Hotel on Manhattan's Upper West Side has been converted into affordable housing for seniors.A year ago, Gov.
The idea of converting vacant hotels into affordable housing took hold after COVID-19 decimated the hotel industry in the spring of 2020. The federal government limited travel and states told residents to stay home as part of an effort to contain the coronavirus. Hotel owners were hemorrhaging money at the same time that housing advocates were looking to move homeless people out of congregate shelters that were not conducive with social distancing requirements and into safer, permanent housing.
The state agency that administers it received two preliminary proposals for buildings in New York City and one outside the city, but no formal applications for financing have been submitted, according to a spokesperson. There are 177 hotels located in light manufacturing districts that could be eligible for conversion, said Houghton, who helped draft the legislation. But the law only allows hotels within 400 feet, or about two blocks, of a residential area, to be converted. And, if hotel workers are represented by a union, the union must sign off on the conversion.
But the cost of conversion can be prohibitively expensive, which is what the new legislation aims to address.
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