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    Home»Real Estate Analysis»Why Developers Yield the Spotlight

    Why Developers Yield the Spotlight

    Team_WorldEstateUSABy Team_WorldEstateUSAJanuary 14, 2026No Comments3 Mins Read
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    Newsday managed to publish an entire article concerning the conversion of the JFK Hilton into inexpensive housing with out naming the builders, Slate Property Group and RiseBoro Neighborhood Partnership.

    You may ask, What’s the massive deal? However give it some thought. Would a day by day newspaper run a narrative a couple of New York basketball crew profitable a playoff collection with out mentioning the Knicks?

    For higher or worse, it’s fairly widespread for mainstream publications to cowl growth with out paying a lot or any consideration to the builders. If they’re included in any respect, it’s often close to the tip of the piece.

    On this case, Newsday gave full credit score to the Hochul administration for the conversion of the lodge into residences. Gov. Kathy Hochul’s personal press release no less than cited the builders, however not till the sixth paragraph.

    From studying it, you’d suppose she transformed the lodge herself.

    “Governor Kathy Hochul at present introduced completion of Baisley Pond Park Residences, a 318-unit, $167 million inexpensive housing growth in South Jamaica, Queens,” it started.

    “By reworking a long-vacant lodge into lots of of inexpensive properties,” Hochul mentioned within the second paragraph, “we’re delivering actual outcomes for low-income and previously homeless New Yorkers whereas making smarter use of present buildings.”

    The challenge did get 29 p.c of its funding — $48 million — from the state’s HONDA fund, which Hochul helped to create. However, actuality examine: This can be a non-public challenge by for-profit and nonprofit builders. It’s not a state challenge.

    Earlier than we even give Hochul 29 p.c of the credit score, contemplate that HONDA, which stands for the Housing Our Neighbors with Dignity Act, has confirmed very troublesome for tasks to make use of, as The Actual Deal defined in a way more informative story concerning the Slate/RiseBoro challenge.

    144-02 one hundred and thirty fifth Avenue in Queens (Slate Property Group)

    To be clear, I’m not criticizing the governor. Her press workplace obtained her good publicity, which is what a press workplace is meant to do. It additionally introduced consideration to a worthy challenge that may not have occurred with out the HONDA laws.

    Nor have I ever heard a developer complain about not being talked about prominently in protection by a basic curiosity publication. Normally they’re glad to remain beneath the media’s radar as a result of they’re accustomed to being hammered.

    No matter challenge they suggest is criticized as:

    • for people who find themselves too wealthy (billionaires! gentrifiers!) or too poor (homeless folks! crime!)
    • having too many bedrooms (youngsters will flood native colleges!) or not sufficient bedrooms (households want housing!)
    • too removed from the subway (visitors! parking!) or too near the subway (crowded platforms and trains!)
    • Too worthwhile (pure greed!) or too dangerous (that may by no means work — you must abandon it!)

    Slate and RiseBoro in all probability chuckled at being omitted from Newsday’s piece however have been certainly glad to yield the highlight to the governor. They know politicians’ forex is reward and publicity. Builders’ forex is permits and income.

    Learn extra

    The JFK Hilton at 144-02 135th Avenue in Queens with Riseboro Community Partnership's Scott Short and Slate Development Group's David Schwartz and Martin Nussbaum

    Inside Slate’s hotel conversion


    The JFK Hilton at 144-02 135th Avenue in Queens with Riseboro Community Partnership's Scott Short and Slate Development Group's David Schwartz and Martin Nussbaum

    Inside Slate’s hotel conversion


    Hotel conversions race against the clock






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