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The NYC Department of City Planning is proposing a change to the
Zoning Resolution to require a Special Permit for all new hotels.
This change is expected to be law by October. This means that
hotels that are not vested (i.e., grandfathered) under today's
as-of-right zoning will be subject to ULURP. With many hotels
currently closed, what does this mean for them when they reopen?
Can they reopen as-of-right? And what is the cost to the future of
hotel development? Join us for a discussion of these questions and
more at our next brown bag lunch webinar series featuring guest
speaker Jonathan Falik, CEO of JF Capital Advisors.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
