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Gentrification has started in East New York, Brooklyn
"It looks like gentrification in East New York might happen faster than we thought. It was recently reported in Crains and New York City officials are handing management of NYCHA over to private developers for $1.5 billion. Two of the main private developers in the deal, L & M Developers and The Hudson Companies, will be taking over management of Linden Houses and Boulevard Houses in East New York."
"The housing authority may also sell its unused air rights and/or accelerate a plan to allow developers to build market-rate apartments on underused land owned by the authority. According to Politico, the plan calls for a 70-30 split of market-rate to rent-regulated housing in private developments on public land.”
NYCHA apartments , projects, nurture and perpetuate a Government dependency culture. These are somewhat insular clusters of multi generational families, many of them need a lot of mental health interventions, medical help, and education. IMO, politically it’s another example of liberal do-gooders wronging society.
We read and heard about nasty conditions at NYCHA, including lead position. Private sector intervention can’t make things much worse, in fact it’ll be the opposite.
If You can believe it ......Linden Houses and Boulevard Housing Projects
are dead smack in the vicinity of major development in East New York.
Take a ride on the Belt Parkway and exit Erskine street, Gateway Mall.
Huge apartment complexes are popping up on very open and available land.
My recent ride to Virginia exposed me to some of the political efficiencies
when it comes to development. Where Amazon quarters are now being
erected new malls and one family homes also follow in close proximity
in anticipation of many jobs to come. Smart.
Brooklyn has the Gateway Mall, plenty of land, Huge apartment complexes
cropping up. Do the math. It is the next new neighborhood coming to town.
Housing projects need not apply.
Folks. Break open the piggy banks. I smell investments.......
You heard it here first.
Gentrification has started in East New York, Brooklyn
"It looks like gentrification in East New York might happen faster than we thought. It was recently reported in Crains and New York City officials are handing management of NYCHA over to private developers for $1.5 billion. Two of the main private developers in the deal, L & M Developers and The Hudson Companies, will be taking over management of Linden Houses and Boulevard Houses in East New York."
"The housing authority may also sell its unused air rights and/or accelerate a plan to allow developers to build market-rate apartments on underused land owned by the authority. According to Politico, the plan calls for a 70-30 split of market-rate to rent-regulated housing in private developments on public land.”
The comments section is worth reading for a perfect snapshot of wallowing in entitlement in NYC. Note the guy who proudly starts one of the comments with the fact that his family has been in these projects since 1960. Welfare as a family heirloom :-). NYC is running out of money to support a massive number of welfare kings and queens, and generations of their royal families, so selling of the projects and public land to private sector is a very logical step. Something had to collapse, either the welfare housing system in the city, or the city itself.
How to tell the direction of a neighborhood? The arrival of private client banking at the local banks. To be invited to bank as a private client a customer has to maintain a minimum of $250k in their accounts. A bank won't offer private client service at a branch because 2 or 3 customers qualify for that service.
The Chase bank on Liberty Ave offers private client service .
I know a doctor couple who recently purchased there.
As recent as 2 years ago 2 family houses could be purchased for less than $600k in the neighborhood.
2002 to 2014 houses were being given away how cheap they were. Think 2 families for $200k.
According to the flyer from the Democrat rep who was running for office 'allocate more money for attorneys for immigrants.' And continue with their criminal justice reform.
According to the track record of the local politicians fund 'pet projects to the tune of millions while diverting 70% of the funds allocated.
Still be in the hole next year.
Giving these politicians money is like throwing water in a strainer.
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