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.
Under mayor Adams’ plan, the city of New York is set for the largest housing investment in the city's history. "The city's housing crisis demands creativity and new tools to build and preserve more affordable homes," said New York City Department of Housing Preservation and Development Commissioner Adolfo Carrión, Jr. "This legislation is a necessary first step to unlock the potential for more hotel conversions that can expand the supply of affordable and supportive housing."
We are facing a homelessness crisis and an affordable housing crisis. By repurposing underused hotels, we can create supportive housing faster and cheaper. We can make affordable, permanent housing available to families, seniors, and any New Yorker in need, including our neighbors experiencing homelessness. – New York Mayor Eric Adams
The bill paves the way for more flexibility in our zoning and building codes with the purpose of addressing the housing shortage. The current New York administration already proposed $171 million in funding for homeless shelters and additional services.