Archinect - News2024-05-16T23:05:28-04:00https://archinect.com/news/article/150427400/hotels-surmount-offices-for-residential-conversion-projects-for-the-first-time
Hotels surmount offices for residential conversion projects for the first time Josh Niland2024-05-13T13:43:00-04:00>2024-05-14T13:33:32-04:00
<img src="https://archinect.gumlet.io/uploads/f3/f36e9ae351cfec7de4e43c16b685e11b.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>The balance of power in the market for <a href="https://archinect.com/news/tag/2150566/office-conversion" target="_blank">residential conversion projects</a> in the United States has shifted from offices to hotels for the first time, according to new statistics included in <a href="https://www.rentcafe.com/blog/rental-market/market-snapshots/adaptive-reuse-apartments/" target="_blank">RentCafe’s latest market snapshot report</a> for 2023.</p>
<p>Per their analysis of Yardi Matrix data, 4,556 of the 12,700 new apartments that were converted in 2023 were hotels. Office buildings were only slightly behind, with 3,587 converted units, representing 28% of the overall total. New York City led all markets with 733 conversions, followed by Albuquerque and Richmond, Virginia. A total of 151,000 conversion projects are in the pipeline currently across all 50 states, with a 17.6% increase being recorded year-over-year. The number of hotels being converted was up another 38.8% over the previous year. </p>
https://archinect.com/news/article/150410094/nyc-will-convert-jfk-hilton-hotel-into-supportive-housing
NYC will convert JFK Hilton hotel into supportive housing Josh Niland2023-12-28T13:44:00-05:00>2024-03-15T01:45:58-04:00
<img src="https://archinect.gumlet.io/uploads/4e/4e7d3e3ce00f8cfcd2d75ad3d196ee10.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>A plan to transform the former Hilton Hotel at John F. Kennedy International Airport in New York City into supportive housing has been announced as the inaugural effort of the important new Housing Our Neighbors with Dignity Act (HONDA) program by <a href="https://archinect.com/news/tag/1877633/mayor-eric-adams" target="_blank">Mayor Eric Adams</a>. </p>
<p><a href="https://archinect.com/aufgang" target="_blank">Aufgang Architects</a> will be in charge of overhauling the 350-room hotel into the renamed Baisley Pond Park Residences, a 318-unit residential development aimed at low-income and formerly homeless individuals with rents ranging between $784 per month for studios to $1,493 for two-bedroom apartments. They say their work will be completed in just 21 months thanks to the hotel’s compatible layout, which allows for a minimally invasive slate of amendments to its internal wall structures.</p>
<p>The result will be a life-changing space for residents, complete with all-electric heating and cooling systems, multiple community/computer rooms, space for the RiseBoro Community Partnership’s on-site support staff, a kitchen serviced by the ...</p>