“We own the whole neighborhood, says Jed Walentas in a Times profile about the changes Two Trees Management has brought to Dumbo as the neighborhood’s biggest landlord and de facto master planner. The article focuses on how David and Jed Walentas have manufactured a cultural zone in Dumbo by offering free or heavily discounted rents to a slew of arts organizations and artists (like the new Galapagos space at 16 Main Street, right). It adds value to any neighborhood, says David Walentas of luring artists to the ‘hood. It’s like good architecture. Good architecture is cheap and adds value. People will pay a premium for it. We couldn’t agree more, and wish more developers would realize that good architecture is good business. It goes without saying, of course, that the Walentas crew has plenty of critics, including those who are fighting to block the Walentas’ Dock Street development.
The Lords of Dumbo Make Room for the Arts, at Least for the Moment [NY Times]