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.