Market
Status of Roosevelt Hotel by end of 2025?
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Resolution / Starting Odds
Fully Operational as Migrant Housing • 25%
Partially Operational • 25%
Not Operational • 25%
Repurposed for Other Use • 25%
Official announcements or media reports
Story
NYC Allocates $220M for 3-Year Migrant Housing at Pakistan-Owned Roosevelt Hotel, Closed Since 2020
Nov 30, 2024, 08:09 PM
The city of New York has allocated $220 million to rent the Roosevelt Hotel in Manhattan to house migrants. The hotel, owned by the government of Pakistan, was part of a $1.1 billion IMF bailout package to help Pakistan avoid defaulting on its financial obligations. The contract guarantees the use of the hotel for three years. The hotel had been mostly empty since its closure in 2020. Critics have raised concerns about the use of taxpayer funds to support this arrangement, arguing that it effectively benefits a foreign government while providing housing for individuals in the U.S. illegally. The decision has sparked debates over federal and city policies regarding immigration and financial priorities.
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Similar markets
No • 50%
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BTD & MSD Partners • 25%
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Trump Organization • 25%
Another entity • 25%
Affordable housing • 25%
Commercial use • 25%
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Remains vacant • 25%
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Commercial development • 25%
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