Many NYC properties, left in poor condition or facing a sluggish hotel market, are more viable as housing than reopening as hotels|Ken Lund|CC BY-SA 2.0
New York City developers are converting several hotels that housed migrants into residential units, with projects already set to create over 1,100 apartments.
An official from the Hotel Association of New York City estimates that around 40% of the 160 hotels used to house migrants will reopen as commercial spaces.
Many properties, left in poor condition or facing a sluggish hotel market, are more viable as housing than reopening as hotels.
Developers say hotel conversions take about half the time and cost of new construction, with installing kitchens being the biggest challenge.
Projects range from affordable housing to for-profit student residences.
In Queens, the former Hilton near JFK Airport is now the 318-unit Baisley Pond Park Residences. In Midtown, the Stewart Hotel is slated to become 535 affordable residences. A 600-key hotel will be converted into over 500 units in Midtown Manhattan.
At the peak in early 2024, over 54,000 migrants stayed in NYC’s hotels, but closures have reduced that number to just one—the Row NYC—which now houses 3,490 people. It is also set to close soon.
Some, like the Roosevelt Hotel, which processed 173,000 migrants, may redevelop into offices or mixed-use space.
With NYC’s rents at record highs and vacancy rates at historic lows, these projects offer a faster, cheaper way to add housing compared to new builds. However, zoning and building codes remain major hurdles.