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Is This New York City s Moment to Convert Failing Hotels Into Services-Rich Housing for Homeless Folks?
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Have empty New York hotels and offices turned into perfect targets for commercial real estate developers?
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What Will Happen to All the Empty Office Buildings and Hotels?
Commercial real estate has been hit hard by the pandemic, but there are plans to convert some of the now empty spaces into apartment buildings.
The Hilton Times Square on West 42nd Street is now in the hands of a lender after closing during the pandemic and failing to pay its loans.Credit.Katherine Marks for The New York Times
Dark windows. Quiet lobbies. Hushed halls.
Many of New York’s hotels and office buildings have been empty for more than a year now as the pandemic continues to keep tourists and workers out of the city.
Gov. Andrew Cuomo (Getty/Illustration by Kevin Rebong for The Real Deal)
The state has tweaked its proposal for the conversion of offices and hotels to housing, limiting which buildings would be eligible. But some feel that the measure still doesn’t go far enough in creating new affordable housing.
Gov. Andrew Cuomo’s initial budget bill offered a temporary window for owners to override local zoning rules to turn vacant and struggling office properties into housing. Now, a series of amendments provides that only certain old office buildings and new ones in financial distress could be converted.
Specifically, the measure applies to office properties that either had a certificate of occupancy as of Jan. 1, 1980, or had one as of Dec. 31, 2020, and are also bankrupt or under receivership.
Kate Dodsworth appointed as Director of Consumer Regulation at RSH
Kate Dodsworth to join the Regulator of Social Housing in the summer as its first Director of Consumer Regulation
From:
26 January 2021
The Regulator of Social Housing has today announced the appointment of Kate Dodsworth, currently CEO of Gateway Housing, as its new Director of Consumer Regulation.
Kate started her career in housing working in homelessness and with rough sleepers and has also previously worked for the National Housing Federation and at Optivo Homes. She was also one of the founding members of Leadership 2025, which was set up to address diversity gaps in housing leadership, and is a trustee of the charity that is taking this work forward.
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