Sentences with phrase «converting affordable rental housing»

Not exact matches

In recent years, it's courted controversy from critics in New York, who say the site depletes the city's affordable - housing stock and encourages rapacious entrepreneurs to convert long - term housing into more profitable short - term rentals.

«In a city with a profound shortage of affordable housing, unlawfully converting rental units to operate hotels has got to stop,» Feuer said in a statement.

Recognizing the need for affordable housing, and increased building costs and land restrictions in many markets over the past 15 years, developers and investors have been turning attached rental stock into for - sale condominium communities — and the movement to convert has never been stronger than in the past year.