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Planning Commission Weighs Limits on New Hotel Builds
New York City’s Planning Commission is considering a proposal to limit hotel development in districts zoned for light manufacturing by requiring a special permit. Existing zoning requirements are conducive to developing hotels in so-called M1 districts, often at the expense of other asset classes, and 30% of the hotel rooms in the construction pipeline will be located in such districts, according to the commission.
However, a study from LW Hospitality Advisors, commissioned by Gene Kaufman Architect, argues against such a zoning amendment. Released in advance of the commission’s formally introducing the amendment last week, the study advocates more hotel development, not less.
“We believe that the current action plan by the city to adopt the special permit for new hotel development in M1 zones is misguided, and will reduce the potential economic and social benefits to the city in the long term,” said LW’s Evan Weiss, the study’s lead author.
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