The “New” New York
Katherine Clarke, The Daily News has a must read article:
“New York’s master builders: New megaprojects will remake swaths of the city from scratch “
Mega developments will transform once isolated areas of NYC. The market is dictating the need for more housing, office space and the opportunity to build during a good economy. Whole new neighborhoods are rising up. (Global investment in NYC real estate is a direct result of economic uncertainty abroad and low interest rates).
Community leaders and elected officials are grappling with the challenge of these new billion dollar mega developments affect on existing, nearby communities. We need to work to make NYC affordable for all New Yorkers.
Government and the private sector need to make sure the infrastructure is created to keep up with the mega developments.
Hudson Yards, Essex Crossing and Astoria Cove & Hallets Point will change the skyline of the city, transform our waterfronts and add mega designer neighborhoods with new market and subsidized housing, commercial space, parks, galleries and movie theaters.
The number of units of new housing is huge: 4,000 plus estimated new residential units at Hallets Point, 5,000 plus, Hudson Yards, over 1700 at Astoria Cove and possibly over 11,250 of units (if the Mayor can make it happen) at Sunnyside Yards in Queens.
Photo Credit: Astoria Cove,LCHUNG