The situation at 78 St. Marks offers a microlesson in what hasn’t worked. In 2003, the Bloomberg administration and the City Council crafted new zoning for Fourth Avenue. Landlords could tear down and build up. Everyone, including then-Councilman Bill de Blasio, voted for it.
A forest of homely upper-middle-income condo towers rose. The city set aside $6 million to encourage building affordable housing. It accomplished little.
A few years later, along came the developer Bruce Ratner, a politically savvy fellow who has a dairy-farmer-like appreciation for the teat of public subsidy. He wanted permission to knock down apartment buildings and build residential skyscrapers, and an arena.
Give me enough subsidies, he said, and I’ll make 50 percent of the apartments sort of affordable. He promised to finish by 2016.
Now his completion deadline is decades away. All that’s gone up is the Barclays Center, which disgorges a beautiful income stream.
loving how discordant this NY Times “Region” section piece is with NY Times “Real Estate” section pieces that adore Financier’s Glass Tower Paradise that Bloomberg helped usher in…
Of course, the one glaring flaw here is saying that the zoning reform “hasn’t worked”, nah this is working exactly 100% as intended, Bloomberg would say so himself.
Using the same, tired argument that poor people of color commit crimes, so poor people of color should be treated like criminals, Bloomberg explained his reasoning on his weekly radio address:
"The people that live there, most of them, want more police protection … if you have strangers walking in the halls of your apartment building, don’t you want somebody to stop and say, ‘Who are you? Why are you here?’ Because the locks on these doors [break] with so many people coming and going… What we really should have is fingerprinting to get in."
Bloomberg is the biggest piece of shit in the world. I’d rather have Spitzer. Seriously. What a racist fucking cocksucker.
Yea, Bloomberg is a horrid and obvious racist (and he’s got an army of thugs too). No you don’t really prefer Spitzer. Both are worse.
One area the administration has been willing to spend money is in building affordable housing in the city. The New Housing Marketplace Plan, a multi-billion dollar investment, is expected to produce up to 140,000 housing units (the initial goal was 165,000). Small snag: many will only be affordable for upper-income people. A new report prepared by the Association for Neighborhood and Housing Development found that two thirds of the new spaces cost too much for most neighborhood residents. In half of the districts surveyed, the majority of units are too expensive for residents that make the neighborhood’s median income (the administration disputes their conclusions). “The typical Bronx household would have to make 1.5 times its income in order to be able to afford the majority of the affordable housing built in the Bronx,” they write. As Eric Jaffe points out in Atlantic Cities, “In general terms, the affordable housing plan did create low-income housing, but it was upper-low-income housing.”
Bloomberg. Is. The Worst.
sidnote: Tumblr, your new editing platform is friggen terrible, especially for editing HTML. Good job.