|4 Hotels by Suthpin Blvd, Jamaica (JQ LLC)|
With the legislative session winding down in Albany, state Senator Michael Gianaris passed his Housing our Neighbors with Dignity Act (HONDA) in the upper chamber Wednesday, June 9.
The legislation will allow the state to finance the purchase and conversion of distressed hotels and vacant commercial office space into permanent affordable housing by nonprofit organizations to ensure every New Yorker has access to a safe and affordable place to live.
Gianaris noted that $100 million was included in the state budget in April to fund such conversions under HONDA.
“New York has seen a decades-long affordable housing crunch exacerbated by the COVID-19 pandemic and ensuing economic devastation,” Gianaris said. “This legislation is a good way to tackle the dual problems of distressed properties and lack of affordable housing. I am thrilled that this passed, and that we have a funded program that will provide real relief going forward.”
Under the legislation, new affordable housing must be made available to low-income households, and people who were previously homeless. At least 50 percent of the units will be set aside for individuals who experienced homelessness immediately prior to applying for converted units.
The legislation passed in the Assembly Thursday, June 10. Jackson
Heights Jessica González-Rojas Assemblywoman co-sponsored the measure. (Let's see how fast this works-JQ LLC)