According to Janice Abbott, executive director of ATIRA, the non-profit group will take over management of the building on July 1st. It will be fully renovated. Tenants will be relocated during the renovation and have the right to return to the renovated building and pay the same rent they were paying before the renovation.
Renovations will likely start in about 6 months.
The Carnegie Community Action Project has repeatedly told City Council that residents of hotels in Chinatown are at risk of being evicted by higher rents as gentrification proceeds. At least 561 new condos are planned for Chinatown right now. It is good news that 34 rooms of low-income housing will be protected at least for the time being.