Friday Links
Stimulus Funds Offer Relief to City and State [NY Times] Disruption and Death Accompany High Winds [NY Times] Resistance Building to Payroll Tax for M.T.A. Rescue [NY Times] City Turning Empty Condos into Affordable Housing [NY Post] ‘Dot NYC’ Domains Coming Soon [NY Post] Big Stimulus Bucks for NYC [NY Daily News] New Home for…
Stimulus Funds Offer Relief to City and State [NY Times]
Disruption and Death Accompany High Winds [NY Times]
Resistance Building to Payroll Tax for M.T.A. Rescue [NY Times]
City Turning Empty Condos into Affordable Housing [NY Post]
‘Dot NYC’ Domains Coming Soon [NY Post]
Big Stimulus Bucks for NYC [NY Daily News]
New Home for NuNu Chocolate [Brooklyn Paper]
470 Vandy Extension Gets CB2 Nod [Brooklyn Eagle]
Photo by caramia447 in the Brownstoner Flickr Pool
so I don’t get why city hall holds developers by the b*lls til they agree to build affordable units, so we can have a lottery, so some people can move from somewhere like affordable queens, a perfectly livable place, to the EDGE in downtown brooklyn, at taxpayer expense. Why not just build the building, tax the developer, and spend the money on whatever is most valuable at the margins in the city budget (like teachers or cops for queens)?
I don’t think I really believe that there’s a shortage of affordable housing in the city. Maybe in lower manhattan and prime brooklyn, but come on. It’s like having a lottery so that a bunch of random people can have better cars.
Mopar, go up to your room right now young lady
There is really nothing wrong with Queens. I used to live there. I recommend it.
ou812 –
I believe the house belongs to the family of Sonny (the bar is around the corner). Years ago a friend and I walked by this then-deserted stretch and Frank Sinatra was blaring. A bunch of old schoolers were sat around the table eating and everyone literally turned and stared at us as we walked by. Even the little dog. When we went in to Sonny’s later we were like “man, what IS that bunch of freaks?!” To which Sonny replied “my family”. Ooops!
Thanks, joe! Well,(and I caution you I can ofttimes sound..er…odd) I think there will always be enclaves- and there’s nothing wrong with it but there should be mixed areas as well. the problem with enclaves is that money and resources get poured into the richest and the poorest get some resources, enough to maintain them at a low level- but the middle class pays through the nose. One reason why the middle class is getting smaller and smaller in this country. It’s fascinating to see how the rise of a middle class impacted society in history- certainly it stabilized society and allowed a virtual explosion of culture and industry. The middle class needs far more support than it ever gets.
Maybe we are not quite meaning the same thing when we say “affordable housing.” To me that is housing that enables me to live in a decent, affordable place even though my income is far from high. I pay taxes, contribute to the economy via consumerisim, don’t run afoul of the law- but I need a decent place to live so I can continue to do this.
I live in a mixed neighborhood- from very-well-to-do to poor. It’s a great neighborhood and its an oddly holisitic community. We do have our problems but on a whole other level, neighborhoods like CHN are classic NYC. It’s healthy to have interaction. Only the very wealthy feel the need to live closed off from real life and shower behind $6000 shower curtains. That’s a little too Sun King for me and the entitlement that income level feels is a good part of why we are in so much trouble today.
It’s so hard for me to explain (I’m no MM!)but we underestimated the psychology of money and class way to much. And in a consumer society like ours, its all about salesmanship- and that is not good. Sorry- that’s the only way I can approach it. I’m -as I’ve said often- no financial wizard, and my degree is in anthropology which probably explains it- hopefully 🙂
“The Edge better drop their prices if they want the city to buy those places.”
They won’t. This deal will be wrought with corruption. Developers have their moles in City government who will “negotiate” prices in THEIR best interest NOT ours. We will be landlords. Back to the 70’s we go.
Welcome to…
THE EDGE
NYCHA
(Okay – The Edge is an exaggeration but you get my point)
***Bid half off peak comps***
bxgrl your snake oil story is fair. what about affordable housing? you seem pretty tuned in. why do we do this? what’s the societal benefit of jamming together the wealth extremes in the city?
thanks for your reply, joe. I guess that to my mind it’s really the subprime lenders who are to blame. they use such sophisticated marketing and sales pressure that most people fall for the snake oil. The easiest way to intimidate me is stick me in front of a financial manager who I will automatically assume knws money far more than I do and so I bow to his expertise. Dumb of me, but typical.
I think most subprime homeowners fell for the financial wealth, responsibility,future security, be part of productive society line they got thrown. No one is going to invest what little money they have into something that they’ll lose in a year or two. And companies like Countrywide knew this and milked it for all it was worth.
So the people in foreclosure (and I am not sure what percentage they make up of total foreclosures) are now scapegoats. There’s millions of homes in foreclosure because of job loss, or catastrophic illness, etc.
On the other hand, that Ratner should get any of this stimulus money makes me see red. All he’s done to this point is knock down buildings, threaten eminent domain and is now trying to weasel out of his deal with the railyards. giving him money would be a travesty. I’m all for the construction iustry, but there are way too many other people who need work too. (myself included)
yeah ditto — but if the city is ready to pay true bottom dollar, then by definition the market will pick up the units at a higher “true market” price and there will be no need.