The state will create a fund to convert distressed hotels and commercial properties into permanent residences for homeless and housing vulnerable New Yorkers after Gov. Andrew Cuomo signed the Housing Our Neighbors with Dignity Act (HONDA) into law.
The bill was sponsored by Astoria state Senator Michael Gianaris, who noted that $100 million was included in the state budget in April to fund such conversions under HONDA.
“New York has seen a decades-long affordable housing crunch exacerbated by the COVID-19 pandemic and ensuing economic devastation,” Gianaris said. “HONDA will tackle the dual problems of distressed properties and lack of affordable housing made worse by the pandemic. Now let’s begin the hard work of properly implementing HONDA and ensuring more New Yorkers have a home they can afford.”