Source: The Wall Street Journal

Date Published: 08.11.2025

Link: NYC Builders Are Converting Shuttered Migrant Hotels Into Apartments

New York City developers are converting shuttered migrant hotels into housing, with at least a dozen properties already in progress and more than 1,100 apartments underway, including the 318-unit Baisley Pond Park Residences in Queens and a planned 535 affordable units at the Stewart Hotel in Midtown. Driven by record-high rents, a 1.4% vacancy rate, and the city’s $8 billion migrant housing spend since 2022, these projects take advantage of hotels’ existing bathrooms, natural light, and layouts to cut costs and timelines compared with ground-up construction, though zoning and building codes remain hurdles. Many hotel owners see conversion as more profitable than reopening, which can cost as much as $100,000 per room and risk stigma from prior shelter use. While some properties like the Roosevelt Hotel may become mixed-use or office space, residential conversions are seen as a way to provide affordable units, with several projects reserving homes for the formerly homeless and integrating on-site services.