![]() In part, the situation reflects a wariness of single-room occupancy, or S.R.O., units, which can conjure memories of flophouses in the 1970s and ’80s, although a 2008 study of 123 supportive housing developments in New York by the Furman Center at New York University found no evidence that they negatively affected nearby property values. In many cases, hotels that were candidates for permanent housing have instead been converted into transient shelters, because of regulations that were onerous or made the alternative cost-prohibitive, several nonprofit groups said. ![]() Nonprofit developers’ plans to buy and convert some of the city’s more than 700 hotels into housing have been thwarted by a mix of regulatory and zoning hurdles that will likely only intensify once the tourism industry recovers and more speculative investors re-enter the market.
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