Search Results for: gentrification

As a subsection of Bed-Stuy—and with a location adjacent to rapidly gentrifying Bushwick—Ocean Hill has seen renewed interest from developers in the last few years. The approved rezoning of East New York in February has also given the neighborhood a big boost and brokers have started calling the area Brooklyn's "last frontier." As such, although the area median income remains very low ($35,000), home prices are quickly moving skyward and flipping is already in full effect. But not all is lost for those with lesser means. Starting today, qualifying NYC residents can apply for 27 newly constructed apartments at 1676 Broadway and 8 Rockaway Avenue. Apartments ranging from one- to three-bedrooms have been priced between $834 and $1,163 a month and are being offered to households earning between $30,000 and $63,000.
See more on if you qualify here

Affordable Housing

August 22, 2016

Reimagining Streit’s Matzo Factory on the Lower East Side: Two perspectives

The closing of Streit’s Matzo Factory last year was difficult for many long-time Lower East Siders to stomach. The factory was a near century-old institution that represented a bygone era untouched by gentrification. Unsurprisingly as a result, the condos designed to rise on the storied site have come under the scrutiny since their debut. But those grievances reveal just one side of the story. […]

August 20, 2016

Weekly highlights: Top picks from the 6sqft staff

Food Network’s Ina Garten Buys Former House & Garden Editor’s Park Avenue Pad for $4.65M Live on the High Line for $596/Month, Lottery Launching for 75 Units at New West Chelsea Tower Hudson Heights’ Famed Cliffside ‘Pumpkin House’ Returns for $5.3M $700K Greenwich Village Studio Fits Maximum Storage Into 500 Square Feet Naomi Watts and […]

Uncategorized

August 16, 2016

City Says Yes to Bronx Complex, No to Flatiron Site for Affordable Housing Plan

The New York City Planning Commission has voted to approve a boutique condominium project on Manhattan's west side without the mayor's new Mandatory Inclusionary Housing plan in place, the New York Times reports; a much larger development in the Bronx also got the green light, and will be among the first to be included in the new affordable housing program. 6sqft reported previously on the controversy over whether a 17-story condominium slated to replace a parking lot and two low rise buildings at 6th Avenue at West 18th should be among the first recipients of the mayor’s new mandatory inclusionary housing (M.I.H.) program. Both the city and the project's developers, Acuity Capital Partners, made the argument that the proposed project is “more of a rejiggering of the zoning than an enlargement,” and therefore does not fall under the M.I.H. rules.
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August 6, 2016

Brooklyn’s Tallest Tower Finishes Construction and Commences Leasing

By Ondel Hylton

Back in 2007, a run-of-the-mill row of three- to four-story walk-up buildings bounded by Willoughby, Bridge and Duffield Streets was ordered to vacate to make way for a soaring mixed-use skyscraper developed by AvalonBay Communities. Without warning, shopkeepers were given between 30 and 120 days to clear out or face court eviction, evidence of the impact of gentrification on Downtown Brooklyn. The district's 2004 rezoning sparked the development of thousands of new apartments (6,400 in the pipeline according to our latest count) and is finally getting a dusting of office space too. Now, after an arduous, decade-long journey of assembling an 11-parcel site, clearing and excavating it, and throwing up nearly one million square feet into the air, Avalon has finally finished construction and has kicked off leasing of the building's upper collection of homes called Avalon Willoughby Square.
Get the scoop on Avalon's deals

August 2, 2016

City Will Study Residential Rezoning of Gowanus, But Locals Want More Affordable Housing

When the area surrounding the Gowanus Canal was designated a Superfund site by the EPA in 2010, it seemed all but impossible that the contaminated, warehouse-laden neighborhood could get on par with the rest of Brooklyn. But recent years have brought major cleanup efforts along the 1.8-mile Canal, leading to new additions like a Whole Foods (quite possibly the first sign of gentrification) and subsequent interest from developers in creating higher end housing. This fall, reports DNAinfo, the Department of City Planning will launch a study to explore a rezoning of Gowanus that would allow for more residential developments in what is currently an industrial section. Locals, however, have similar concerns to those who opposed the recent, controversial East New York rezoning--that it will only incentive developers, causing displacement of longtime residents, and that any affordable housing put forth in the plan would still be out of reach for the lowest income residents. They've therefore created their own redevelopment plan called Bridging Gowanus, which, as the Times notes, calls for "greater density and more affordable apartments in return for improvements and guarantees that preserve the precarious soul of the district."
More details ahead

POLL: Will Whole Foods Drive Up Real Estate Values in Harlem?

A rendering of the new Harlem Whole Foods

July 28, 2016

POLL: Will Whole Foods Drive Up Real Estate Values in Harlem?

6sqft has previously written about the Whole Foods Effect--the pattern of real estate values increasing when a new grocery store opens nearby. In fact, national data from Yahoo! Finance showed that "homes with a Whole Foods in the ZIP code appreciated by nearly 34 percent." And here in New York, the Effect seems to be taking hold in Harlem, where a Whole Foods will open next year at 125th Street and Lenox Avenue in a six-story commercial building spanning over 200,000 square feet (other tenants will include Burlington Coat Factory, Nordstrom Rack, Olive Garden and TD Bank). Citi Habitats agent Chyann Sapp told the Post that "there’s a one-bedroom two blocks away for $1,800. And the owner said that once Whole Foods opens he thinks he could easily get $2,000, $2,100 for it." The store was first announced in 2012, at which time the area's price per square foot was $594, according to appraisal firm Miller Samuel. As of 2015, it had risen to $839. Similarly, townhouse prices have doubled from $2 million to $4 million in this time.
Is Whole Foods behind it?

Real Estate Trends

Trendy, ‘Affordable’ Food Hall and Beer Garden Headed to the South Bronx

Image: View Grand Concourse via photopin (license)

July 21, 2016

Trendy, ‘Affordable’ Food Hall and Beer Garden Headed to the South Bronx

Controversial South Bronx Developer Keith Rubenstein of Somerset Partners has purchased a 16,000-square-foot warehouse (expandable to 30,000 square feet) at 9 Bruckner Boulevard for $7.5 million and intends to create a Gansevoort Market-style food hall called Bruckner Market, reports The Real Deal. According to the developer, who purchased two other South Bronx waterfront sites last year, the space will offer a fresh food market, kiosks and restaurants and may have a beer garden, though he made a point of addressing how the new addition will affect the community: “It will provide great food and beverage options at affordable prices for the existing community and new community.”
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Delivering a New Future to Bronx General Post Office While Honoring Its Past

Image courtesy of Studio V Architecture

July 19, 2016

Delivering a New Future to Bronx General Post Office While Honoring Its Past

By Stephanie Hoina

Blocks away from the Harlem River waterfront and the 15-acre Mill Pond Park, with easy access to public transportation and serving a vibrant community of college students, office and medical workers, and working-class families, sits the nearly 80-year old landmarked Bronx General Post Office. Acquired in 2014 by developer Young Woo & Associates and the Bristol Group as part of the postal service’s plan to pare down its real estate holdings, the building’s bold yet tasteful transformation promises to be a showcase for the borough’s long awaited rebirth. Though its glory years as the primary sorting, storage and processing hub for the majority of mail coming to and from the Bronx have long gone, the government was careful to ensure that its new life would be worthy of its storied history—and its neighborhood inhabitants. After a thoughtful and lengthy RFP process, developer Young Woo was selected to bring his vision—what he's described as "a crossroads for community, commerce and culture"—to the 175,00-square-foot facility, and he hired STUDIO V Architecture, a firm with extensive experience in adaptive reuse, to help achieve it.
Read more on their approach to this unique project here

July 5, 2016

Lottery Opens for 259 Affordable Units in East New York, Starting at $494/Month

As part of his city-wide campaign, Mayor de Blasio has made a push for affordable housing in East New York, where the City Planning Commission recently approved a controversial rezoning. Local residents cited concerns that the changes would lead to displacement and gentrification in a neighborhood where the median income is $35,000 annually. But the city's latest housing lottery offers a whopping 259 units for households earning between $18,275 (single persons) and $71,760 (eight people). The apartments, 50 percent of which are reserved for local residents, range from $494/month studios to $1,322/month four-bedrooms. These units are within the third phase of Gateway Elton Street, a new multi-building affordable housing development with ground-floor retail and community facility space in the Spring Creek section of East New York. In total, it will offer 659 apartments and roughly 70,000 square feet of commercial space. Phase three, located at 1062 Elton Street and 475 Locke Street, was designed by Dattner Architects, who organized the two-building site around a central courtyard with parking and outdoor recreation areas.
More on the development here

Affordable Housing

June 3, 2016

City Council Will Vote on Controversial Changes to the Landmarks Law

Over the past couple years, preservationists have waged two big battles pertaining to the 51-year-old landmarks law. First, there was Landmarks Preservation Commission's decision to de-calendar 95 historic sites--in other words, remove them from the "waiting list" to be considered for landmarking, leaving them in jeopardy. The LPC eventually withdrew this plan after massive public outcry, but then proposed a bill, Intro. 775, to implement timelines for reviewing possible landmarks, which was met with criticism again for a perceived catering to developers who want to demolish or alter a property. The proposal stalled, but the Council is back at it, now "proposing a half-dozen recommendations to simultaneously streamline and expand the landmarks process" that they will vote on this month, reports the Times.
Learn about all the points

Policy

May 27, 2016

Housing Lottery Launches for 135 New Rentals in Mott Haven, From $538/Month

Up-and-comer "It" neighborhood Mott Haven in the South Bronx kicks off a brand new housing lottery today with 135 new rentals up for grabs at 500 Union Avenue. The 14-story residence, dubbed the Crossroads II Plaza, has been dedicated to below-market rate housing and is part of the larger three-building Crossroad Plaza project, which includes a include a 21,278-square-foot community facility and 37,687 square feet of commercial space. Affordable apartments have been priced between $538-$861 for one-bedrooms, $655-$1,042 for two-bedrooms, and $749-$1,196 for three-bedrooms.
FInd out if you qualify here

Affordable Housing

May 26, 2016

C3D Architecture’s 232 Seventh Avenue Begins Its 17-Floor Climb in Chelsea

By Ondel Hylton

Near Chelsea's raggle-taggle intersection of Seventh Avenue and 23rd Street, a new residential building has begun its 17-floor rise skyward. The 53,135-square-foot tower designed by C3D Architecture will boast 50 rental apartments with first and cellar levels dedicated to commercial and retail uses. Floors two through 11 will be configured with four apartments per floor and floors 12-16 just two apartments apiece. According to C3D, the exterior will be clad in a subdued mix of limestone and metal panels with full-height glass windows wedged in between. The second floor will be provided a large rear terrace and all levels above will have west-facing balconies. The twelfth floor is setback and the uppermost four levels will be outfitted with street-facing balconies.
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$40 Million Overhaul Will Make 8 Parks More Neighborhood-Friendly

Image: Fort Greene Park Conservancy

May 25, 2016

$40 Million Overhaul Will Make 8 Parks More Neighborhood-Friendly

The city has announced plans to make eight of the city's parks more welcoming and integrated into their surrounding neighborhoods, the New York Times reports. According to officials, the green-space face-lifts are part of a plan to improve city parks and part of the larger goal of having 85 percent of New Yorkers living within walking distance of a park. The parks, chosen by a nomination process that used feedback from residents, include Seward Park on the Lower East Side of Manhattan, Faber Pool and Park on the North Shore of Staten Island, Jackie Robinson Park in northern Manhattan, Van Cortlandt Park and Hugh Grant Circle and Virginia Park in the Bronx, Flushing Meadows-Corona Park in Queens, and Fort Greene and Prospect Parks in Brooklyn. According to parks commissioner Mitchell J. Silver, the many improvement suggestions the city received were "proof positive of how excited New Yorkers are to increase accessibility and openness in their favorite parks.”
Find out more about the park plans

May 21, 2016

Weekly Highlights: Top Picks From the 6sqft Staff

By Alyssa Alimurung

Jennifer Lawrence Scopes Out a $17.5M Duplex Penthouse in Tribeca Madison Equities Files Permit for 1,115-Foot Supertall Condo in the Financial District Glenwood’s Newest Lincoln Center-Adjacent Tower Starts Leasing With Discounted Rents Controversial Lower East Side Waterfront May Get Even More Tall Towers New Studies Show Historic Preservation Doesn’t Cause Gentrification Woes Richard Meier Flips […]

Uncategorized

40 Percent of Manhattan’s Buildings Would Be Unbuildable Today

720 Park Avenue could not be built today. Image via Google Maps

May 20, 2016

40 Percent of Manhattan’s Buildings Would Be Unbuildable Today

Many feel that the city's current construction boom is unprecedented, but while towers may be reaching new heights, according to a new report by architecture firm KPF, nearly three-quarters of the city's existing square footage was actually built between the 1900s and 1930s. More interestingly, The Times points out that forty percent of the buildings that currently make up Manhattan could not be built today because they break at least one zoning code violation—among which include being too tall, having too many residential units, or having too much commercial space.
find out more here

May 17, 2016

Clever Pour-Over Coffee Maker Poses As a Decorative Water Tower

Pour-over coffee makers are most-definitely favored by coffee connoisseurs, loved by those obsessed with the nuances that each bean carries. While the craft is considered cool, the large, bulbous glass vessels used during the process are hardly such. To improve the design of this method, Damon Ahola created TOWER, a single-serving pour-over coffee maker that masquerades as a decorative water tower—"the epitome of the New York City skyline," says Ahola.
Find out more here

May 9, 2016

Williamsburg Unsurprisingly Tops List of NYC’s 15 Fastest Gentrifying Neighborhoods

Williamsburg has become the poster child for the hipsterfication of Brooklyn and NYC gentrification in general, but behind the beards and beet smoothies are actual facts to back it up. NYU's Furman Center released a report that identifies the city's 15 gentrifying neighborhoods, out of 55 total, and finds that Williamsburg/Greenpoint comes in at number one (h/t DNAinfo). Of course, it's difficult to define gentrification, but the study looks at areas that were relatively low-income in 1990 (among the bottom 40% in the city), but experienced higher rent growth over the past 20 years than other neighborhoods, a trend that the Furman Center feels is of "greatest concern in lower-income neighborhoods." Williamsburg and Greenpoint had a startling 78.7 percent jump in rent over this time period, followed by Central Harlem at 53.2 percent and Chinatown/Lower East Side at 50.3 percent.
See the full list here

May 9, 2016

The Guggenheim Superimposed On a Struggling Colombian City Highlights Urban Identity

When Spanish photographer and artist Victor Enrich visited Rafael Uribe in Colombia, an urban area a few miles south of Bogotá, he was struck by how the struggling city was lively, yet full of contradictions (h/t Dezeen). The result of mismanaged migration patterns in the mid-20th century, the area now lacks an identity, with the younger generations focusing more on the mainstream Bogotan culture than their own heritage. Enrich's photography project titled "Rafael Uribe Uribe Existe," which superimposes New York's Guggenheim museum over the landscape of the Colombian city, highlights the "contrast between North and South American imagination." In doing so, he hopes to show how international cities with a high quality of life are those that protect their different communities instead of allowing them to vanish.
More photos and background

Events & Things To Do

489 New Units of Affordable/Elderly Housing to Rise on Land in Brooklyn and the Bronx

Photo via Wiki Commons

May 5, 2016

489 New Units of Affordable/Elderly Housing to Rise on Land in Brooklyn and the Bronx

The de Blasio administration is expected to announce plans to lease New York City Housing Authority (NYCHA) land to build nearly 500 apartments for low-income and elderly tenants in three buildings of up to 16 stories within existing housing projects in Brooklyn and the Bronx, according to the New York Times. The sites, on parking lots and grasslands within the projects, were included in the housing authority's initiative to improve deteriorating public housing, as well as increase the number of new affordable units. More controversial plans are also in the works to add market-rate housing within public housing projects in prime real estate locations.
Find out more

Affordable Housing

May 2, 2016

Interactive Map Shows How Your Neighborhood Has Recovered From the Housing Market Crash

Most Americans are finally starting to feel a bit of relief that the economy is getting back on its feet, but when it comes to the housing market, it's not as cut and dry as we might think. Analyzing data from Black Knight Financial Services from 2004 to 2015 (the bubble, burst, and recovery), the Washington Post asserts that the country's housing arc has only worsened inequality. "It also helps explain why the economic recovery feels incomplete, especially in neighborhoods where the value of housing — often the biggest family asset — has recovered little, if at all," they explain. For example, an average single-family home gained less than 14 percent in value over the past 11 years, but homes in the nation's priciest neighborhoods have gained 21 percent. And interestingly, in Bed-Stuy, Brooklyn, an area that saw a huge gentrification push during this time period, single-family home values have tripled and risen by 194 percent -- the largest increase of any metro area in the country. The Post has taken the data and compiled it into an interactive map that lets users simply input a zipcode to see how the area has fared.
More national and local trends ahead

Real Estate Trends

April 28, 2016

JDS and SHoP Architects Unveil Plan for 900-Foot Lower East Side Tower

There's a new tallest tower taking over the Lower East Side, and unsurprisingly it comes to us via the supertall super-team of JDS Development and SHoP Architects, the same duo responsible for the 1,438-foot-tall 111 West 57th Street and 9 DeKalb Avenue, Brooklyn's first 1,000+ foot tower. Their latest record-setter is a 900-foot, 77-story rental building planned for 247 Cherry Street, reports The Lo-Down. It will rise directly next to Extell's One Manhattan Square, which made waves for its 850-foot height in the low-scale Two Bridges area. The newest tallest tower between Midtown and Downtown will have a 10,000-square-foot retail base with 600 rental apartments above, about 150 of which will be made permanently affordable. Though the design isn't finalized, SHoP says it will likely be terracotta brick and glass and feature outdoor terraces in the middle. There will also be a top-floor amenity space for all residents, and SCAPE Landscape Architecture has been tapped to create a publicly accessible plaza surrounding the structure.
More details this way

April 26, 2016

Lottery Launches for $822/Month Studios in Brand New East Harlem Building