A Hilton hotel near John F. Kennedy International Airport will be redeveloped into 318 units of affordable housing, as reported in the New York Times. The project will cost approximately $150 million, 32% of which will come from a New York State program that was created in 2021 by the Housing Our Neighbors with Dignity Act.
Hotel conversions are a cost-effective and relatively quick way to create more affordable housing, and the Hilton’s relatively large rooms and lobby area made it a good candidate for conversion. Renovations are estimated to take two years and are slated to include upgraded building systems.
Approximately 60% of the units will be set aside for individuals experience homelessness. The remaining units will be available to lower-income households.
HSE represents lead developer Slate Property Group.