Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
With in-office workers still slow to return to pre-pandemic levels, New York City Mayor Eric Adams on Monday unveiled his push to convert a big chunk of that underused office space into new apartments for New Yorkers.
With in-office workers still slow to return to pre-pandemic levels, New York City Mayor Eric Adams on Monday unveiled his push to convert a big chunk of that underused office space into new apartments for New Yorkers.
Migrants are going in there whether you like it or not. Maybe one million more are on the way in the next couple years and then their kids will need places too.
Last night on local TV news I did hear something about the possibility of migrants being housed in these buildings. I’ve searched the net, but can’t find anything else on it.
The idea sounds good in theory but who's going to foot the bill to gut renovate these office towers into apartments? Already half of the luxury units in Manhattan sit empty because people either can't afford them or use them purely as investment properties. Who is going to be able to afford to live in these newly converted units?
The idea sounds good in theory but who's going to foot the bill to gut renovate these office towers into apartments? Already half of the luxury units in Manhattan sit empty because people either can't afford them or use them purely as investment properties. Who is going to be able to afford to live in these newly converted units?
Not sure who is supposed to pay for this. But I’m guessing the mayor will get most of the funds from the governor, and the rest by issuing bonds, and from NYC taxes.
There is no "to be" about it; just a bunch of proposals by Adams and Albany at this point.
Should things actually become law or changes made that still does not equal any sort of action.
Converting office buildings into residential housing only works for certain sorts of properties. Even with relaxed rules, zoning or whatever numbers may still not pencil out.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
