The COVID-19 pandemic affected every section of society drastically. The hotel and hospitality sector is no different explains Maxwell Drever. Policymakers are now thinking of promoting the reuse of vacant and district hotels into housing. After all, hotels are for providing shelter. Since they are mostly empty in the post-pandemic scenario, countries across the western world are constantly altering their housing policies to increase the housing supply. However, conversion is not easy. If you gaze at the background, you will see that hotel to housing conversion takes time and proper planning. Hence, you have to pay attention to regulatory constraints and building codes for undertaking the transformation.
What is the primary challenge in hotel conversion?
One significant constraint in conversion is local and state land-use policies. Zoning designation governs housing development in different areas. Equally important is the proper design and the construction of buildings for residential use. For example, a large yard is necessary for residential buildings but not hotels.
Maxwell Drever explains that the floor area ratio is limited in the case of residential buildings. Thus, it’s challenging to convert large hotel rooms into residential units. Conversion to residential spaces triggers accessibility requirements for individuals with disabilities. Hence, hotel owners and landlords must make the necessary provisions when undertaking the transformation.
A brief look at current laws
Every state has a unique code of conduct and rules to regulate each part of the economy. When it comes to real estate, the conversion process is not simple. The current laws do allow conversion, but there are regulatory barriers. Hence, proper communication between governmental institutions and private agents is necessary. Zoning regulations that help easy conversion have become the need of the hour. If you look at building codes and rules and regulations, easy conversion requires time and effort. Hence, rezoning properties through the land use process becomes necessary at the present state.
Undertaking the groundwork
Hotel owners and property owners must assess their properties to ensure how well it facilitates conversion. Wherever required, repair and renovation must come into operation. With this, proper attention to various proposals and state regulations is necessary. After researching the available options, working with professionals and drawing a detailed blueprint is required. If you want to get regulatory relief, you have to make provisions for the same.
Maxwell Drever asks readers to remember that state laws differ from one country. Hence, if you want to grab federal grants and incentives, you must assess these laws in detail.
Conversion of hotels into the residential unit is a complex financial endeavor. Hence, a brief look at the economic resources is necessary. Before you undertake the conversion, you must have a smooth fund flow. For this, you may take the help of the government and non-governmental institutions. Various considerations apply to the utilization of hotels and providing supportive residential units to the workforce population. Supportive housing gets different treatment under different zoning regulations. Hence, you must assess the supportive housing in detail to make the conversion possible.