Hotels into homes: City rallies behind hotel conversion bill in Albany

New York Metropolis housing advocates, as perfectly as Mayor Eric Adams, Speaker Adrienne Adams and the Hotel Trades Council, are overwhelmingly in assist of passing the hotel conversion bill in the condition assembly this legislative session to assist tackle the housing disaster.

The city’s tourism sector and normally superior desire for hotel rooms dropped substantially in the onslaught of the COVID-19 pandemic and was not seriously projected to recuperate until eventually 2025, in accordance to a city planning resort industry evaluation. In January 2020, there ended up 127,810 lodge rooms in in excess of 705 resort qualities citywide that had been unceremoniously shutdown, reported the analysis.

The brightside: some of these resorts served house homeless people through a main crisis and reignited the notion that vacant lodges could be transformed into stable, lasting housing in the long term. Hence the hotel conversion invoice, S.4937/A.6262, attained traction.

The bill amends the state’s multiple dwelling regulation to aid conversions of existing distressed accommodations to affordable long-lasting housing. It would get the job done in tandem with the freshly handed Housing Our Neighbors with Dignity Act (HONDA), which basically cash lodge conversions statewide. Occupants would be able to rent or lease a transformed space at 30% of their revenue, modeled immediately after Area 8 and other public housing lease caps.

At the commencing of May, each Mayor Adams and Speaker Adams publicly said their unwavering support for the plan. “All New Yorkers ought to have harmless and secure housing, and we have to develop much more adaptability in our zoning and making codes to make it possible for for the conversion of underutilized and vacant hotels into desperately needed supportive and reasonably priced housing,” stated Speaker Adams in a statement.

In a presser on Could 1, Mayor Adams spoke about how the metropolis is striving to “holistically” fix the housing disaster and aiming to make the most of lodge conversions as a instrument to reach that while feeding the tourism business. Adams stated the emphasis is to “repurpose underused hotels” and produce supportive housing for people dealing with homelessness, and make more inexpensive, everlasting housing obtainable.