July 25, 2006

Residential RE Squeezes Industrial Nabes

A lot of concern has been raised about the survival of the industrial sector in the city, and much of the worries stem from the encroachment of residential property on land used primarily for industrial uses, whether it be through zoning variances, or illegal conversions. The residential real estate market has put enormous pressure on the industrial sector. In response, Bloomberg - in cooperation with advocacy groups and business leaders - has created a centralized agency to coordinate the effort to help the sector, initiated protective boundaries around the city called Industrial Business Zones, and has increased penalties and patrolling for illegal residential conversions.

A more complete look at the issue after the jump...

Continue reading "Residential RE Squeezes Industrial Nabes"

Commentator Balks at Mayor's Housing Plan

Arguing that Bloomberg's affordable housing plan will in effect increase housing costs for middle-income New Yorkers, Nicole Gelinas, of the Manhattan Institute, outlines the theory that regulating prices acuses supply to become restricted. The result? Housing becomes more valuable and prices rise for living space still on the free market. She also makes the generalized argument that rent stabilization leads to the deteriorization of housing conditions by depriving landlords of revenue needed for upkeep, forcing them to cut corners. Granted, some single mothers may not be able to afford their apartments without government regulations, she says, but that's "a problem of the dysfunctional underclass."
Bloomberg's Housing Horror [NY Post]

Tuesday Linkage

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Bushwick Art Project. Photo by Aaron Geiser
'Blight' in the Eye of the Beholder [NY Times]
Bensonhurst Residents Unhappy with Trash Plan [NY Post]
Sunset Park to Get New Recycling Plant [Sunset Parker via Bklyn Record]
Historic Cobblestones Raise Ire of Chelsea Residents [NY Post]
Once a Housing Scandal, Now a Hope [City Limits]
Long Post on Appraisal Inflation [Matrix]
Jail as Affordable Housing [The Real Estate]
Yassky: Developers' Trojan Horse? [Amsterdam News]

July 24, 2006

DOB Backs Community Opposition to 15th St. Tower

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Developers of an 11 story residential tower at 182 15th St. (GMAP), in South Slope, should not be allowed to continue to build, the DOB says. Tommorow, the BSA will decide whether the developers, Global Development, should be allowed to erect the building in the recently downzoned neighborhood. The developers argue that they laid the foundation before the rezoning and thus should be allowed to continue. But Janine A. Gaylard, assistant general counsel to the DOB, wrote in a letter to the BSA that the developers did not apply for a permit for mechanical demolition - and had they, it would not have been approved. The developers, Gaylard said, would not have been able to beat the clock by manual demolition. The letter says the mechanical demolition is "clearly unsafe."
DOB Backs Tower Critics [Park Slope Courier]

Development Doesn't Stop with Atlantic Yards

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Within three blocks of Forest City Ratner's Atlantic Yards proposal are eight new construction projects, and at least five of them are 35 stories or higher, reports the NY Post. Thor Equities is planning a 60-story mixed use tower called Albee Square West; John Catsimatidis - owner of the Gristede's chain - is planning a project that will reach near 40 stories; BFC Development has a 40-story residential and retail tower development in the works that was designed by Skidmore Owings and Merrill, and Ron Hershco just broke ground for his 35- and 40-story luxury buildings.
New Downtown Brooklyn 'Heights' [NY Post]
Albee Square West graphic from Thor Equities

Monday Links

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Greenpoint Smile. Photo by Dan Witz.
Clinton Hill Brothel Owner Also East New York Slumlord [Daily News]
Eminent Sense in Brooklyn Domain [Daily News]
Debate Rages on Over Brooklyn Bridge Park [NY Times]
Deadly Traffic Trends in Red Hook [NY Post]
DOB Supports Critics of 15th St Tower [Park Slope Courier]
Critics Assess Atlantic Yards Environmental Study [Park Slope Courier]
Carroll Gardens Greenmarket Approved by CB6 [Carroll Gardens Courier]

July 21, 2006

Brooklyn's Labor Market

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Brooklyn is not fulfilling its potential in the retail market, and construction jobs are not keeping pace with the number of construction projects in the borough, says a recent report on the labor market in Brooklyn, published by the Brooklyn Chamber of Commerce. While the number of jobs in Brooklyn grew 1% in 2005 - the highest percentage occuring in culture and recreation - the 6.2% unemployment rate still lags behind the citywide average of 5.5%. Commanding the labor market is still the public sector, at 41% of all jobs in the borough. Wages have kept pace with inflation, but also remain below city average. The overall number of residential building permits issued almost doubled between 2001 and 2005. In 2005, 1,600 were issued, at a total of 9,000 units - coming in just over Manhattan, which totaled 8,500.
Brooklyn Labor Market Review [Brooklyn Chamber of Commerce]
Chamber's 'Target': Shopping [Brooklyn Papers]
Photo by Rob Innes.

A Shady Figure of Development in East New York

Indicted East New York Assemblywoman, Diane Gordon, and an opponent for her open seat, have a not so encouraging connection. The developer who caught Gordon on video in the land use hussle, according to Tom Robbins for the Voice, was introduced to her by former Democratic district leader, DeCosta Headley. Headley, whom the developer refered to as 'manipulative' in the videotape, also has a history in the shadows with Winchester Key, a challenger for Gordon's seat. A decade ago, Key fired then director of his non-profit, Martin Dunn, for refusing to award a contract to one of DeCosta's firms to build a homeless shelter. Robbins broke that story as well.
In related news, Gordon wore a wire to one of her fundraisers in an attempt to catch judicial candidates in a bribe. None took the bait, but we wonder... who would actually attend that fundraiser?
Nice race so far, eh?