Housing and Homelessness
After a Year of Missed Opportunity, New York Revises Sputtering Hotel-to-Housing Plan
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When COVID-19 hit, policymakers saw an opportunity: The city had interconnected affordable housing and homelessness crises; the city also had hundreds of empty hotels hemorrhaging cash. But a year after the state passed a law funding the conversion of hotels to affordable housing, not a single one has happened. The experience of the Paramount Hotel on West 46th Street illustrates why.
