NEW YORK (WCBS 880) — New York State lawmakers have passed a bill that could turn vacant hotels and office buildings into affordable housing.
Hotel owners have estimated 20% of the city's hotels could be closed permanently and the future of office buildings is also a question mark given new working habits.
With that in mind, lawmakers in Albany have passed a bill to convert empty commercial space into affordable housing.
Legislation from Queens State Sen. Mike Gianaris sets aside $100 million for the state to buy up abandoned hotels and office buildings.
Half of any new apartments would be set aside for the homeless. The other half would be reserved for people making no more than 80% of the area's median income.
Gianaris tells the Wall Street Journal he's also hoping the state will tap into federal COVID relief dollars to buy up even more buildings.
Both chambers of the state legislature have already passed the measure, but Gov. Andrew Cuomo has yet to say if he will sign the bill.
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