Now is the time to convert hotels into affordable housing

How many more times do we have to hear about turning hotels into affordable housing before we actually do it?

Every hotel owner, homeless advocate and mayoral candidate agrees it’s a smart idea. It repurposes hotels emptied out by the pandemic, addresses homelessness, and creates jobs to help fuel the city and the state’s economic recovery. 

But we have to stop talking about hotel conversions and start doing them. For all the talk, New York has yet to turn even one underutilized hotel into housing. Meanwhile, California has already invested more than $800 million to help nonprofits acquire over 90 hotels that will be turned into more than 6,000

→ Continue reading at Crain's New York Business

[ufc-fb-comments url="http://www.newyorkmetropolitan.com/news/now-is-the-time-to-convert-hotels-into-affordable-housing"]

Latest Articles

Related Articles