Developers plan to turn a Hilton hotel near JFK into a homeless shelter.
The first of New York state’s planned repurposing of hotels for affordable housing has started near JFK, potentially prompting developers to follow the blueprint in other parts of the city.
according to an article Commercial real estate website Globest.comthe owner of the Hilton in Queens is selling the property to a joint venture that will convert the building into 300 homes.
The state contributed $48 million of the $150 million to the project through a program called the Housing Our Neighbors with Dignity Act (HONDA), which converts financially distressed hotels into affordable housing . About 60 percent of the units will be reserved for the homeless. The rest will be earmarked for low-income families. Rent is $1,200 for a one-bedroom apartment and $1,500 for a two-bedroom apartment.
In 2022, Governor Kathy Hochul signed legislation This simplifies the process of responding to developer complaints, especially as tourism has boomed in the wake of the pandemic.
