On September 8, 2023, Hilary Atzrott Hamburg published “Prepare for New Regulatory Hurdles in NYC” in Hotel Investment Today. The following is an excerpt:
Hotel owners, developers, and investors face new expenses and timing obstacles if opening or expanding a hotel in New York City.
As of December 9, 2021, new hotel development, expansion, or enlargement within New York City requires issuance of a special permit (the “Special Permit”) by the City Planning Commission (“CPC”), a discretionary approval process requiring community outreach and the support of local elected officials.
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