Senate Deputy Leader Michael Gianaris announced the state Senate just passed the Housing our Neighbors with Dignity Act. This 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. $100 million was included in the state budget in April to fund such conversions.
Senate Deputy Leader Michael Gianaris said, “New York has seen a decades-long affordable housing crunch exacerbated by the COVID-19 pandemic and ensuing economic devastation,” said Senate Deputy Leader Michael Gianaris. “This legislation is a good way to tackle the dual problems of distressed properties and lack of affordable housing. I am thrilled this is passing, and that we have a funded program that will provide real relief going forward.”
Video of Senator Gianaris’ floor speech is available here.