New York City Plans to Convert Underutilized Hotels Into Affordable Housing to Combat the Homelessness Crisis
Mayor of New York, Eric Adams, expressed his support for a state bill that would make it easier for the city to convert underutilized or vacant hotels into affordable and supportive housing. The mayor urges New York state legislators to unlock a critical tool in combating the affordable housing crisis and tackling homelessness in the process. The conversion framework proposed by the bill would allow authorities to create affordable housing units at two-thirds of the cost and one-third of the time necessary for ground-up construction.