My NYC Black Folk......Gentrification

capblk

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This spring, city officials announced they would encourage private developers to build on land inside public housing complexes, potentially making luxury apartments their neighbors.

The city’s move was intended to raise billions of dollars to fix up the often rundown complexes, and to expand the city’s below-market-rate housing stock by requiring that 50 percent of such infill construction be set aside as affordable. But the economics of any new buildings will likely depend on also drawing market-rate tenants to places they once might have shunned.

In many ways, the city is just playing catch-up.

More than a half-dozen developers have already planted their stakes near public housing in places including Red Hook in Brooklyn, the Lower East Side of Manhattan and Mott Haven in the South Bronx. In the hopes of securing cheaper land in a city where lots at any price are growing scarce, they are ignoring taboos against living near public housing and venturing into areas once considered unprepossessing and even dangerous.

Developers say the amenities their buildings will bring to these newly targeted areas, such as stores, shoreline paths and improved streets, will benefit the neighborhoods as a whole.

Retail will be a major part of the larger of the two developments that Mr. Rubenstein of Somerset and his partner, the Chetrit Group, are planning in Mott Haven. The five-tower complex along the Harlem River will be two blocks from the 3,800-resident Mitchel Houses.

Over all, the project, whose name will likely include “piano district” as a tribute to past manufacturing, will encompass 1,600 apartments, most rentals, and is to break ground early next year, he added.

Mr. Rubenstein also plans to convert a former industrial building on nearby Third Avenue into a six-unit market-rate rental. That site faces Patterson Houses, a 15-building public housing development.

But if new shops come in selling groceries, coffee and clothes that are too pricey for the lower-income residents of these areas, the upsides will be few, critics say. The average gross income of people living in public developments is about $23,000, according to the New York City Housing Authority, or Nycha.

http://www.nytimes.com/2015/06/28/realestate/when-public-housing-is-across-the-street.html?_r=1
 

Rice'N Beckford

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Stayed in BK a block away from the Ralph Ave subway stop for a weekend trip. The culture :blessed:.

I would def move there to BK but these threads about gentrification on here make me worried.
 

ogc163

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Mott Haven my nikka?

MOTT HAVEN???????????????? :damn:

THEY ARE GOING TO SKIN THOSE CACS ALIVE :damn: :damn: :damn: :damn: :damn: :damn:

IS THIS SOME KIND OF SICK JOKE?!?!?!?!??!?????

@ogc163 TALK TO ME!!!!!!!

Mott Haven ain't that gully anymore. Morrisania is easily worse, and these yacubians aren't scared to even go there. South BX will be gentrified, its not a matter of if but when.
 

TLR Is Mental Poison

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Mott Haven ain't that gully anymore. Morrisania is easily worse, and these yacubians aren't scared to even go there. South BX will be gentrified, its not a matter of if but when.
2020 only nikkas left will be named Trevor :mjcry:
 

360dagod

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SAN ANTONIO SPURS NY DIVISION
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http://brie.hunter.cuny.edu/hpe/2012/10/10/a-metro-north-stop-in-hunts-point/

This aint being made for us brehs:sas2:
 

AB Ziggy

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Mott Haven ain't that gully anymore. Morrisania is easily worse, and these yacubians aren't scared to even go there. South BX will be gentrified, its not a matter of if but when.


I say 5 years is when we will begin seeing noticeable results.
 

Red Shield

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I say 5 years is when we will begin seeing noticeable results.

Yeah... from where I'm at in Pittsburgh, shyt has changed so much in 5 years. So yeah....5 years give or take a year


Hope folk in those soon to be gentrified areas of NYC are making plans...
 

Scientific Playa

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BX's turn as the posters said

Silvercup Studios Buys Bronx Site
Production company’s third New York City facility will be in Port Morris
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ENLARGE
Brothers Stuart and Alan Suna on the second floor of their new space in the Port Morris section of the South Bronx. Photo: Cassandra Giraldo for The Wall Street Journal
By
Keiko Morris
Updated July 5, 2015 9:37 p.m. ET

Movies such as “Fort Apache, the Bronx” and “The Bonfire of the Vanities” offered up infamous depictions of the South Bronx, but the film-and-television industry soon could be looking at the area through a different lens.

Silvercup Studios, which has hosted television productions such as HBO’s “The Sopranos” and “Girls” at its Queens studios, is moving forward with a third facility in the Port Morris section of the South Bronx.

The planned 120,000-square-foot production facility at 295 Locust Ave. would help the company expand and meet growing demand, said brothers Alan and Stuart Suna, who founded the company with their father, Harry, more than three decades ago.

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ENLARGE
For Bronx leaders, Silvercup’s move means their borough could begin to increase its share of the city’s film and television economy. The sector annually generates an estimated $7.1 billion in direct spending and $400 million in tax revenue, while employing 130,000 New Yorkers behind the scenes, said a spokeswoman for the New York City Mayor’s Office of Media and Entertainment.

The Bronx’s share of the city’s film industry economy has been small, likely less than 5%, said Bronx Borough President Ruben Diaz Jr.

“We know the film industry in New York is booming, and we know it generates billions and billions of dollars,” Mr. Diaz said. “It creates jobs...it transforms the local area.”

The Sunas had long been attracted to the Locust Avenue building, with its 50-foot-high ceilings and easy access to subway and highway transportation. The building sits near the Mott Haven neighborhood, which has lured new residents and restaurants as well as developers Somerset Partners LLC and the Chetrit Group, which together are planning to build apartment towers in the area.

“The Bronx is experiencing its own renaissance, I don’t think [most] New Yorkers realize,” said Stuart Suna, Silvercup’s president.

Silvercup, which bought the property from Simone Development Cos. for $15 million, is investing $20 million to transform it into four production studios. With such high ceilings, it will easily accommodate two-story sets, the Sunas said.

A mezzanine portion of the building also will be extended and two floors added to the section to make room for offices and space for other functions supporting production.

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The exterior of 295 Locust Ave. Photo: Cassandra Giraldo for The Wall Street Journal
The planned facility will have the capacity to service two television productions simultaneously over the year, potentially generating an average of 250 full-time positions for each production, Alan Suna said.

The Sunas had been looking for years for an expansion site. The company has a 235,000-square-foot facility at its main lot and a 200,000-square-foot complex at its east lot, both in Long Island City.

Silvercup and its competitors have grown, in part, thanks to state tax credits. In 2005, New York state listed nine facilities where film and television productions could qualify for the state industry tax credit. Today, the state lists 38 qualified production facilities in the city. One is in the Bronx, and it is mostly used for still photo shoots.

The city counts 4,000 businesses that support production throughout the five boroughs, according to the Mayor’s Office of Media and Entertainment. The challenge for production-facility owners, however, has been finding affordable space to expand.

Property has become pricey in Long Island City as developers envision apartment towers built on the neighborhood’s former industrial sites and buildings.

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The second floor of 295 Locust Ave. will be used for dressing rooms and office space. Photo: Cassandra Giraldo for The Wall Street Journal
The average price per square foot for Long Island City industrial properties that sold for $500,000 or more was $395 in the first quarter of 2015, up almost 70% from $234 a square foot in the same period of 2013, according to Cushman & Wakefield Inc.

In the Bronx, the price per square foot for industrial property was $149 in the first quarter of 2015, a 9.6% increase from the 2013 price of $136.

Other companies are looking at the Bronx. York Studios, which has a production facility in Maspeth, Queens, bought property in the Soundview section of the Bronx and is planning a 300,000-square-foot facility, said John Battista, executive vice president of operations.

“This part of the Bronx is similar to where Long Island City was 25 to 30 years ago,” said Alan Suna, referring to the South Bronx. And, he added, “The Bronx is the land of opportunity.”

Eventually, that is what Mr. Diaz hopes others will see. In discussing the Silvercup project, he can’t help but paraphrase a bit of Sam Cooke’s “A Change is Gonna Come.”

“It’s been a long, long time coming,” he sang.

http://www.wsj.com/articles/silvercup-studios-buys-bronx-site-1436140210
 
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ThaBronxBully

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Mott Haven Ain't That Gully Anymore? They Think It's Still 1994 Over There, And Most Of It Is Disgusting.
 

ogc163

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Mott Haven Ain't That Gully Anymore? They Think It's Still 1994 Over There, And Most Of It Is Disgusting.

:stopitslime: Nah I have family that live on Courtland and Beekman, it is not as crazy as it was several years ago. Morrisania (Forest, McKinley, Boston Rd.) is still in 1994 mode.
 
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