Developers turning NYC hotels that housed migrants into apartments: Report

Developers in New York City are turning hotels that once housed migrants into more than 1,100 permanent housing units, the Wall Street Journal reports

They're taking the opportunity to turn several hotels into affordable housing, student housing, or standard residential apartments in response to housing demands in the Big Apple

For instance, a Hilton Hotel near JFK Airport in Queens has been converted, called the Baisley Pond Park Residences

and will now serve as affordable housing for people with limited incomes

In the financial district of Manhattan, a very tall Holiday Inn hotel is being turned into student housing

David Schwartz with the Slate Property Group tells the Journal that more than a dozen hotels could be converted into housing units

The number of new apartments being created by converting hotels is small

compared to the massive demand for housing in New York City. So these conversions won't solve the housing crisis

However, they can still improve individual neighborhoods by increasing foot traffic, attracting new people, and supporting local shops and services. Since 2022, New York City has spent

billion sheltering migrants as required by its law to house all unhoused people By early 2024 more than 54 migrants were staying in hotels that were being used as emergency shelters Schwartz says it easier to convert a hotel into residences because

of zoning laws, and the hotel's design usually makes the renovation process faster, allowing

them to complete it in a shorter period compared to building an apartment building from scratch

Hotels that were used to house migrants may carry a stigma, which can create additional

challenges for owners, such as hurting the hotel's reputation or making it harder to attract future

guests. It has to relaunch as something totally different, Michelle Russo, CEO of the consulting

firm Hotel Ave, told the Journal. The Roosevelt Hotel, once one of New York City's main migrant

shelters and arrival centers, has now closed. And despite its size and location, developers tell

the Journal it's unlikely that it'll reopen as a hotel or be converted into housing

Turning hotels into affordable housing in New York City has been difficult due to strict rules

even with state funding from a 2021 law, according to the Journal

The Baisley Pond Park residences is the first to succeed under this law

For Straight Arrow News, I'm Lauren Keenan. If you want more on this story, download the Straight Arrow News app or visit san.com