"As the pandemic set in and no one was traveling, hotels were hard hit. Former NY Gov.
Cuomo saw an opportunity to turn lemons into lemonade.
If hotels couldn’t survive then maybe they would agree to sell and the city could covert the rooms into cheap apartments, something the city is definitely lacking.
- But despite $200 million in funding put up for this plan, not a single new apartment has been created in New York City.
Part of the reason has to do with the end of the pandemic and the return of tourists.
The other part has to do with union workers..."
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