Tuesday, September 30, 2008

MAP: Homes for the Hip

Once a predominantly working class and industrial neighborhood, Greenpoint became the subject of a controversial rezoning in 2005. Author and urban activist Jane Jacobs criticized the plan in a scathing letter to Mayor Bloomberg:

"...the proposal put before you by city staff is an ambush..."

Sample Property Listings in Greenpoint

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The plan allowed investors to develop 175 blocks of Greenpoint and nearby Williamsburg into luxury buildings and high-rises. It is still home to a predominantly Polish immigrant population. But as a younger, richer demographic moves in, they may be forced to relocate.

The NYT noted increased rents as early as the 1980s. Today, Greenpoint is among Brooklyn's most expensive neighborhoods. The price of homes for sale outstrip the neighborhood's median income. It is unlikely that traditional residents of Greenpoint could afford to buy--let alone rent--residential property.

Residents have organised a town hall on Oct 2nd to discuss housing, transportation and overdevelopment.

Stats for Thought
  • Median Household Size: 2.55
  • Median Household Income: $38,240
  • Median Housing Value: $562,200
  • Job Growth (past 12 mths): -0%
  • Residents w/ a 4 Yr Degree: 12%

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