New York City developers take heed!

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For your own sake and for the sake of that city I implore you to take this information to heart.

New York City’s neighborhoods are pockmarked with stalled residential developments. But the pause in construction will most likely be a temporary one. People are still moving to New York–despite the recession–and hundreds of thousands of new housing units will need to be built before supply catches up with demand. The city estimates that we need 265,000 new units by 2030 just to keep up with population growth.

But neighborhood opposition to new development could stall future development in New York City more than the credit crisis. Community members have seen the effects of new luxury development in their neighborhoods: rising rents, gentrification, and displacement. Based on their experience, residents understandably resist rezonings and new condo towers. City Hall must understand that without concrete community benefits, an attempts to increase the pace or scale of new development will be blocked.

This could go for development anywhere in the world actually. Developers are obsessed with building luxury housing above all else. Any new building I see in Northern Virginia & DC is not just your regular apartment buildings they are “luxury apartments.” This simply will not do and if you don’t change your ways then you will most certainly get more push back and obstacles thrown in your way.

Written by Jason Gooljar

October 9th, 2009 at 9:47 am

Posted in Housing

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