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That is only one direction
the other direction is to have buildings in white neighborhoods with 20% affordable units
Two things can happen with 20% affordable units:
1. A low-income couple moves into an affordable unit, a unit which may be less expensive (due to, eg, no sun exposure or whatever). The husband drives a delivery truck, the wife is an aide at a nursing home. They have two quiet teenage kids who go to school in the morning, come home from school in the afternoon, and that is all you see or hear from them except when you occasionally see some family member in the gym or the laundry room. All four family members politely say hello in the elevator, and there are never any problems with them. There isn't even anything more to write about them.
Or:
2. A single mother with 5 kids moves into an affordable unit which is the same as all other units in the building, except that other tenants pay 50% of their income for rent, while the affordable unit is fully subsidized by taxpayers. The 5 kids all have different fathers that can't be traced, but there is the current boyfriend in the picture. He uses his girlfriend's affordable apartment as a base for dealing drugs. His customers come at all times of day and night, and sometimes pee in the elevator. Loud music is blaring from the apartment 24/7. The oldest son is a gang member with the record of several arrests, who has just recently mugged and hit an old lady in the neighborhood. The next is a daughter who brings 30 people who do not live in the building into the building gym every day. The next is the other daughter who is 15 and expecting a baby. Most family members smoke weed in the building hallways, and constantly start arguments with neighbors.
The first family will blend seamlessly with the rest of people in the building, the second one won't. But that is not because the neighbors of the second family are racists.
I do not live in Parkchester, but I do own a very small condo there. My primary home is in Boston, the city I do not particularly like, but it has a very favorable tax structure for me, and likewise a health insurance structure which is also very favorable for me. I will need Boston for 8.5 more years, then will sell my Boston condo, and move somewhere else later in retirement.
I like the historically cosmopolitan character of NYC, and up until recently I was certain that I would want to live in NYC in retirement. But because of the expense of living in NYC, as well as increasing political problems which affect the quality of life, I decided to test the waters, buy in the cheapest possible place that is still safe, and give myself enough time to decide whether NYC is livable and worth the cost. Maybe significantly, I bought my Parkchester unit in 2008, during a Bloomberg mayoral term, when the quality of life and economic prosperity was greatly looking up in NYC.
I chose Parkchester because it is (1) very inexpensive by NYC criteria, (2) actually safe from crime, under the new condo complex management since 1998, with pleasant close-community spirit, (3) architecturally significant (you can read about it), and my unit in particular has some major advantages with respect to its location in the building, and in the condo complex, and (4) Parkchester subway station, a few steps away, has a direct connection with Manhattan, and there is also an express bus which I can take from Manhattan later in the evening if I don't want to deal with subway safety concerns outside of busy rush hours.
The racial demography of the neighborhood doesn't interest me one way or the other, as long as there is no crime.
That is only one direction
the other direction is to have buildings in white neighborhoods with 20% affordable units
They’ve been “trying” to do that. The only disagreement I would have with this statement would be, saying affordable units in white neighborhoods is the only way to diversify may imply that blacks and browns can only afford low income units (relating to my experience in gentrified Bed Stuy, many wealthy blacks/young upwardly mobile bla-bla-bla moved to high rent apartments because of the Brooklyn trend). And, in older white and Jewish neighborhoods in Brooklyn a few years ago apartments were even more affordable than your average apartment in historically black Fort Greene.
Also, gentrified Greenpoint has its working class Polish population pushed out by the same gentrifiers.
At the end of the day I think it has to do with the mentality of the demographics of certain places. If you look at the city of New Rochelle, the most sumptuous neighborhoods with multi-million dollar houses have plenty affluent black families, mixed with Jewish, white American, Italians, Hispanics etc etc etc... they chose to live together and don’t mind. Just like in Pelham Parkway (Bronx) which is not a gentrified neighborhood.
You can't reason with many of the old white ethnic neighborhoods. They don't want to live next to certain "others" and any attempts at trying to integrate them will simply result in the neighborhood tipping into being all Black/Hispanic/whatever. The true hope for genuine racial intergration in NYC comes from gentrification. Yuppies are willing to live in diverse neighborhoods and that's what the city should focus on.
That is pretty much it.
(Although it still does not address the actual subject of this thread: why it is economically suicidal for a city to incentivize welfare dependence, and try to fund this massive welfare dependence by increasing taxes on the top 1% taxpayers... to the point where the said taxpayers will leave the city, and take their businesses, jobs in their businesses, and tax revenue from their businesses, elsewhere).
I do not live in Parkchester, but I do own a very small condo there. My primary home is in Boston, the city I do not particularly like, but it has a very favorable tax structure for me, and likewise a health insurance structure which is also very favorable for me. I will need Boston for 8.5 more years, then will sell my Boston condo, and move somewhere else later in retirement.
I like the historically cosmopolitan character of NYC, and up until recently I was certain that I would want to live in NYC in retirement. But because of the expense of living in NYC, as well as increasing political problems which affect the quality of life, I decided to test the waters, buy in the cheapest possible place that is still safe, and give myself enough time to decide whether NYC is livable and worth the cost. Maybe significantly, I bought my Parkchester unit in 2008, during a Bloomberg mayoral term, when the quality of life and economic prosperity was greatly looking up in NYC.
I chose Parkchester because it is (1) very inexpensive by NYC criteria, (2) actually safe from crime, under the new condo complex management since 1998, with pleasant close-community spirit, (3) architecturally significant (you can read about it), and my unit in particular has some major advantages with respect to its location in the building, and in the condo complex, and (4) Parkchester subway station, a few steps away, has a direct connection with Manhattan, and there is also an express bus which I can take from Manhattan later in the evening if I don't want to deal with subway safety concerns outside of busy rush hours.
The racial demography of the neighborhood doesn't interest me one way or the other, as long as there is no crime.
Parkchester value is going up and will continue to do so. A metro north station is coming in the next 4 years and the old commercial warehouses will be torn down and yield to new buildings. I feel sorry for the auto shops left on East Tremont and White Plains.
Parkchester value is going up and will continue to do so. A metro north station is coming in the next 4 years and the old commercial warehouses will be torn down and yield to new buildings. I feel sorry for the auto shops left on East Tremont and White Plains.
I can't understand why people automatically assume that I bought in Parkchester to profit from increasing value when I re-sell it. That wasn't my consideration at all, and the value of my unit has gone up minimally (ie, by about $25k or maximum $30k in 12 years, which will be largely eaten up by taxes when I sell it eventually). Every investor will tell you that investing in stocks is incomparably more profitable than in small-scale real estate (particularly such a location as the Bronx). Accounted for inflation, I do not expect to make any money on this small condo (which is okay, that's why I bought it cheaply), but it has usable value for me. It gives me a chance to get a real insight in NYC without comitting too much to it. If I spend 60-80 days per year in NYC, the maintenance of the condo basically pays for itself, because it costs less than I would pay for an AirBnB room in NYC for that length of time (if the city even allows AirBnB, I never managed to figure that out with certainty). I am not sure any more that Metro North station in Parkchester will be happening (considering that the city is badly out of money), but that does not bother me either. Parkchester is okay as it is, for living, not for flipping properties. If only the other low-income areas of the Bronx could be that safe and solid.
I can't understand why people automatically assume that I bought in Parkchester to profit from increasing value when I re-sell it. That wasn't my consideration at all, and the value of my unit has gone up minimally (ie, by about $25k or maximum $30k in 12 years, which will be largely eaten up by taxes when I sell it eventually). Every investor will tell you that investing in stocks is incomparably more profitable than in small-scale real estate (particularly such a location as the Bronx). Accounted for inflation, I do not expect to make any money on this small condo (which is okay, that's why I bought it cheaply), but it has usable value for me. It gives me a chance to get a real insight in NYC without comitting too much to it. If I spend 60-80 days per year in NYC, the maintenance of the condo basically pays for itself, because it costs less than I would pay for an AirBnB room in NYC for that length of time (if the city even allows AirBnB, I never managed to figure that out with certainty). I am not sure any more that Metro North station in Parkchester will be happening (considering that the city is badly out of money), but that does not bother me either. Parkchester is okay as it is, for living, not for flipping properties. If only the other low-income areas of the Bronx could be that safe and solid.
I never said this was the reason why you bought a unit, and, from the amount of time you’ve had it, I can assume you didn’t buy it to make a profit and flip it. I was just stating facts and confirming that your pied à terre has definitely gained value and will probably keep going this direction so it’s all to your advantage. And yes it is relatively safe with all the essentials around, especially in the condo/co-op complex, you don’t even have leave it to run all your errands. The low rate of people identifying as white is also ironical, considering that after its completion, it had a “whites only” policy.
Also Starling Avenue has the best Bengladeshi food and products in the city.
New York is a dying state. NYC has been destroyed by DeBlasio and NY State by Cuomo and his band of followers. Why would a millionaire/billionaire want to live there?
The once great Empire State, the largest in population as late as the 1950’s have since slipped to humbling 4th, no doubt will be dropping further back. No more prestige or have the same cachet as it once did. It should now be renamed the Vampire State, for sucking the life out of its inhabitants.
Congratulations Democrats, you have managed to run the state and the greatest city in the world right into the ground.
The day is soon coming ,the BILLIONAIRE's bail,but with them ,they will take the stock market and all the tax it generates. Most people have no idea the money the market brings to NYC and NYS.So go ahead little genius barmaid and the like.Its to lod ," I'll Raise ya ,whatever the cost" f you haven't watched "THE MEN WHO MADE AMERICA"its a must. They would gamble their last dollar to win. So again,Tax em hard,go ahead,they will buy their own country,they run the markets,big corporations,the stock market. With the slick of the mouse,their fortunes would far out of reach,AND,the stock market don't need wall street anymore,it can all be done on an island in the Carribean,'CLICK OF THE MOUSE' we have invented our own demise.
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