Governor Cuomo announced a $1.4 billion initiative last week to bring resources like health care services and new jobs to Central Brooklyn. According to the governor, the plan, called “Vital Brooklyn,” will bring 7,600 jobs and more than 3,000 new affordable housing units to Brownsville, East New York, Bedford-Stuyvesant and Crown Heights. And while Cuomo’s administration found these neighborhoods to be some of the most disadvantaged in the state, residents worry about the possible gentrification and displacement effects (h/t NY Times).
A new report from the Regional Plan Association finds that residents of the Bronx are at highest risk of being pushed out due to gentrification compared to other New Yorkers, according to DNAinfo. The report, titled “Pushed Out: Housing Displacement in an Unaffordable Region,” looks at the effect of rising housing costs in New York City and addresses what it names “A Crisis of Affordability.” The report found the threat of being pushed out due to lack of affordable housing was a threat in 71 percent of census tracts in the Bronx. Following in displacement risk was Brooklyn at 55 percent, Manhattan and Queens at 31 percent each and Staten Island at 15 percent.
We hear so frequently about the players behind Manhattan’s billion-dollar real estate projects and how foreign investors are pouring a global vault’s worth of currency into New York City property, often shielded by LLCs. It’s illuminating to get a closer look at the city’s larger real estate landscape–one that has changed so much in recent decades–and learn who’s behind the soaring property values, skyrocketing rents, frenzied flipping and veritable horse-trading that has driven the unprecedented and transformative gentrification beyond Manhattan’s rarified development scene.
A recent story by The Real Deal titled “Learning and earning: Hasidic Brooklyn’s real estate machers” reveals that a huge slice of the borough’s real estate pie is owned by the Hasidic community. The ultra-orthodox sect reportedly includes some of Brooklyn’s wealthiest property owners, to the tune of $2.5 billion.
Recently on the Brian Lehrer radio show on WNYC, Mayor De Blasio addressed questions about the effects inclusionary development–i.e. giving developers the green light to build market rate housing if they set aside 25-30 percent of the units for low- and middle-income residents–has on the quality of life in lower-income neighborhoods. A growing concern among housing activists is that reliance on this kind of inclusionary zoning leads to gentrification that pushes out the lower income residents due to the 70-75 percent of market rate units bringing new, wealthy residents and new businesses that will cater to them.
- Get ready to cry your eyes out. These maps show that one-bedroom rentals have gone up $200/month since just six months ago. [Brokelyn]
- Gentrification summed up in 311 calls. [NY Mag]
- If you’re heading upstate this weekend, be sure to hit up these eateries in the Hudson Valley and Catksills. [Brownstoner]
- This construction worker doesn’t let his 9-5pm job get in the way of his love of creating art. [NYTimes]
- Earlier this week, CityRealty released a report about 22,000 new apartments coming to Brooklyn. Now see what’s in store for Long Island City in Queens. [DNAinfo]
Photo: Joe Buglewicz
As the transformation of Queens reaches a bit deeper into the borough, it’s really no surprise that Jackson Heights is quickly becoming a focal point for savvy buyers and renters. The area, roughly bounded by Northern Boulevard, Junction Boulevard, Roosevelt Avenue and the Brooklyn-Queens Expressway, is fully loaded with stunning pre-war co-ops practically everywhere and shiny new redevelopments for under $800,000. Combine this with its diverse cultural offerings and a myriad of subways that can always get you smack dab in the middle of Manhattan in less than 30 minutes (that’s better than a lot of the up-and-coming areas of Brooklyn, mind you), it has all the makings for the next hipster-setting housing boom.
There’s yet to be an exact agreed-upon theory as to where the name Hell’s Kitchen came from, but most historians agree that it had something to do with the poor tenement conditions and general filth of the neighborhood in the 19th century. Its reputation didn’t get any better in the 20th century, though. After the repeal of prohibition, the area became overrun with organized crime, and until the 1980s it was known as a home base for several gangs. Today, Hell’s Kitchen is no longer the “Wild West,” but rather a rapidly gentrifying community ripe for new development.
A neighborhood profile today in the Times looks at the transformation of the neighborhood, also called Clinton or Midtown West, which is generally defined as the area from Eighth Avenue to the Hudson River between 34th to 59th Streets. Summed up, “New buildings are going up, and older ones are being converted to high-end residences. The development of Hudson Yards and the High Line just to its south and the addition of the Time Warner Center on its northeast border have spurred growth. Prices have gone up but are still generally lower than in surrounding neighborhoods.”
4 Downing Street (r), 8 Downing Street (l). Renderings courtesy of Urban Compass.
The much-discussed new condos at the site of the former Broken Angel House at 4-8 Downing Street in Clinton Hill are officially on the market. Ten “hand-crafted condominium residences,” developed by Barrett Design and Development will include eight two- and three-bedrooms in the original building at 4 Downing and two two-story “generously scaled three bedroom homes” in the newly-constructed 8 Downing.
Our article last week on Hoboken being named the hipster capital of America certainly got people talking. Some felt that Hoboken is the frat capital of the country, while others were simply shocked that Brooklyn, the land of artisanal mayonnaise and lumbersexuality, didn’t even make the list of most hipster cities. The New Jersey city was given its title by “data-driven” blog FindtheBest, who drew their ultimate conclusions based on how many yoga studios and cafes there were per 10,000 inhabitants. So does the fact that Brooklyn also has rock climbing gyms and food trucks disqualify it completely? Tell us what you think.
Is Hoboken really America’s most hipster city? According to a study conducted by “data-driven” blog FindtheBest, Hoboken out-hipsters us all with its souped up offer of 13 cafes and one yoga studio per 10,000 residents—the vast majority of whom are aged between 20 and 34 years old.
FindTheBest looked at the top 19 municipalities with 50,000 or more inhabitants, evaluating both the locale and people against certain attributes they deemed characteristically hipster. Hilariously, the site defines a hipster as one who associates with a “subculture all about nonconformity and effortless nonchalance” and embodies an appearance that conjures up one “reading Proust over an overpriced cup of coffee.”