Testing the Limits: Only three of New York’s 25 tallest residential buildings have completed safety tasks required by the city.Promised support from Mayor-elect Eric Adams could also jump-start several projects, although much of that progress will depend on how - and when - the city and state act. Bargains may be disappearing, but the hotel industry hasn’t yet recovered, and more projects could become feasible for nonprofit developers with the right mix of regulatory relief and funding.

The window of opportunity has not closed completely. model could help alleviate the affordable housing crisis at a pivotal moment, when these conversions can still be done at scale. And supporters say that a different approach to the S.R.O. In part, the situation reflects a wariness of single-room occupancy, or S.R.O., units, which can conjure memories of flophouses in the 1970s and ’80s, although a 2008 study of 123 supportive housing developments in New York by the Furman Center at New York University found no evidence that they negatively affected nearby property values. In many cases, hotels that were candidates for permanent housing have instead been converted into transient shelters, because of regulations that were onerous or made the alternative cost-prohibitive, several nonprofit groups said. Nonprofit developers’ plans to buy and convert some of the city’s more than 700 hotels into housing have been thwarted by a mix of regulatory and zoning hurdles that will likely only intensify once the tourism industry recovers and more speculative investors re-enter the market.

Tycoon city new york