New York City making hotel rooms harder to get approved in Manufacturing zones
The city is about to make it harder to build hotels in New York City manufacturing zones. The current proposal will require a special permit. This will increase costs and time to get sites ready. The bigger problem is this will give unions a greater opportunity to make the job site union which will drive up costs for new hotel rooms. This law will make the existing inventory more valuable as the city is creating a higher barrier to entry.