new york city hotel development
New York City’s 2018 & 2021 Hotel Zoning Amendments
March 2, 2023
By Cole Masler Hotels are a vital part of New York City’s economy, accounting for approximately $13 billion of revenue per year. In recent years, however, the City Planning Commission has adopted certain amendments to New York City’s Zoning Resolution in an attempt to curtail hotel development. These changes have been top-of-mind for owners and developers involved in the New York City hotel real estate market. One such amendment, passed in 2018, is known as the M1 Hotel Text Amendment. This zoning amendment established the need for a special permit in order to build new hotels, motels, tourist cabins, and boatels in light manufac...