In many of the neighborhoods targeted by the de Blasio administration for a rezoning, rising levels of rent are occurring simultaneous to increases in poverty in certain census tracts—creating a complicated picture, where the threats of gentrification are felt equally alongside the pains of deprivation. According to the report, released in conjunction with the 2016 State of New York City Housing and Neighborhoods Report, in the 2011-2015 span, 20.6 percent of New Yorkers lived in poverty—up from 2006-2010, when 19.1 percent of New Yorkers were considered impoverished. A family of two adults and two children is considered below the poverty line if their annual income is less than $24,036. Read more
The city’s bid to rezone a large chunk of Harlem will increase the development potential of at least 50 properties owned by a motley collection of landlords—some of whom may be less than deserving of a big payday. A Manhattan community board is set to weigh in this month on the East Harlem rezoning plan, which will boost the allowable size of buildings along certain corridors of a 96-block area.
The change could create as many as 3,500 new apartments if the City Council signs off on the plan by the end of the year. The initiative is meant to both jump-start new construction and influence the scope of projects that likely would have happened even without rezoning. All developers who receive a density boost will be required to include affordable housing in their new projects.
Recasting a neighborhood in this way can often deliver big benefits to longtime owners who have stuck with the area during less prosperous times. But a...
It’s bleak on Bleecker St. for commercial stores. There’s an 18.4% vacancy rate along stretches of the well-known West Village street — once famous for its beatnik shops and music venues like the Village Gate and the Bitter End, places where Bob Dylan once played.
“Bleaker on Bleecker: A Snapshot of High-Rent Blight,” used on-the-ground data collection and firsthand accounts to look into the root causes and impacts of storefront vacancies and recommends a number of solutions. Read more
Think about where NYC was in 2007: it was pre-recession, but also before the so-called “eight digit boom”that led to the development of the supertall skyscrapers that now dominate Central Park South. Megaprojects like Hudson Yards or Pacific Park had yet to begin construction, and neighborhoods like Williamsburg or Long Island City—while still in the process of adding new buildings—weren’t the built-up areas we see today. Heck, the High Line and Brooklyn Bridge Park hadn’t even opened yet. Read more
Over the past two decades, Brooklyn has undergone more drastic changes than any other borough in New York. Rents have risen, commerce has grown and neighborhoods across the borough have become some of the most desirable in the entire city. But New Yorkers aren't flocking to Brooklyn like en masse—in fact, they're doing just the opposite. A report from the Empire Center for Public Policy found that nearly 170,000 people moved out of Kings County between 2010 and 2016 as residents migrated to suburbs or cheaper parts of the city. Read more
The rapid gentrification of NYC neighborhoods has led to an economic boom — and a collapse in black-owned businesses.
New York's fast-gentrifying neighborhoods have contributed to an economic boom in the city over the last 15 years, with the number of new storefronts and companies increasing by 45%. But those economic gains have not been shared by all residents, according to a new report from the city comptroller's office. Read more here
A new report from the New York City Comptroller’s office compares economic and demographic profiles at the neighborhood level in the Big Apple from 2000 and 2015.
Comptroller Scott Stringer reveals just how profoundly the city has been transforming in the 21st century by comparing business and neighborhood details in 2000 and 2015. Dig around in the data and you’ll find detailed portraits of the city before and after gentrification, for better or worse.