The Wholesale Remodeling of New York City
Since Mayor de Blasio and Governor Cuomo took power in New York the pace of development and massive-scale construction has been breathless. Between 2013 and 2014 the absolute number of condominium units built nearly doubled, and they represent but the tip of a proverbial iceberg of wholesale remodeling of our city.
I write this lengthy note in hopes that all of us will take stock and consider the possibility of acting, in one way or another, to save New York City before the damage done is simply overwhelming. At a minimum, I hope you will consider distributing this analysis to friends and colleagues, political leaders and influential thinkers in our fair city. On a higher plain, perhaps you will seek out and engage with individuals in key business or political leadership positions in New York City and Albany, pressing them to take heed, and take action. Time is running out: Cuomo seems to have ousted one layer of Albany real estate corruption in favor of another. And de Blasio appears to believe that as long as some percentage of a project is “affordable” (to whom, and at what cost?), all other considerations are irrelevant.
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