Gov. Hochul signs bill creating ‘flexible rules’ to convert underused hotels into permanent housing
Gov. Kathy Hochul signed a bill Tuesday morning that will create “more flexible rules for converting underutilized hotel space into permanent housing.”
In prepared remarks, she called it a “bold action” amid New York’s housing crisis.
"This new law allows us to tackle the affordability crisis head-on and convert empty, underutilized spaces into homes,” she said.
Mayor Eric Adams, who also spoke at the event, applauded the move and said that converting older buildings into permanent housing would give “someone a newer life.”
The governor said that hotels were “part of the ecosystem” of New York City and are once again starting to bustle since pandemic-related restrictions have been lifted.
“We want to preserve those hotels. And those jobs should be preserved,” she said.
“There's also a large number of failing and problem hotels in our neighborhoods,” she continued. “They pay people low wages, they're run-down, and sometimes they present a safety risk in their neighborhoods. These hotels need to be reimagined. And with the stroke of a pen today, they will be. We're going to make the rules more flexible, making it easier to convert underused properties into residential space, meaning someone's home.”
Hochul says the plan is part of her $25 billion, five-year housing plan that she announced in her State of the State address.