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Do New Yorkers need to cram into cubbyholes to bring prices down? At a recent conference organized by the Citizens Housing and Planning Council (covered by the New York Times, Crain’s, and City Limits), we heard a familiar refrain about New York City’s building stock: regulations have not kept up with the times, and there is a shortage of affordable units available for single adults, in particular. The result is widespread illegal conversions and dwellings – anywhere from 100,000 to 500,000, depending on who you ask – which, while mostly tolerated, are obviously not ideal, especially with regards to fire safety….
An Eric Colbert special, everywhere and anywhere in DC I’m a little behind on posting this, but Lydia DePillis at Washington City Paper did a great profile a week or so ago of DC architect Eric Colbert, whose buildings’ unifying features seems to be blandness. There are a lot of people out there who dismiss all modern architecture as boring out of hand, and in my opinion undeservedly, but in this case Lydia has a point. He gets a lot of work in DC, and answering the question of why his boring style is so pervasive in Washington, she discusses some of familiar themes, DC’s restrictive height limit and the usual developer conservativeness among them….
A few days ago, Mayor Bloomberg made a startling announcement: The 7 train extension to New Jersey is still on. The idea was first floated last year as a replacement for the canceled trans-Hudson commuter rail ARC project, but it was a hard sell then, and at $10 billion, it’s still a hard sell. The federal ARC funds have long since been redistributed, and New York City has no idea how it’ll even finish the Second Avenue Subway – where does Bloomberg think money for a subway line to New Jersey is going to come from? …
There’s a lot that bothers me about preservation policy, but one of the weirdest has to be rules that make it difficult to fill in gaps in building height. I’m not a big fan of the idea that historic neighborhoods have to stay the same “scale” forever, but it boggles my mind that people can both support keeping neighborhoods “in scale,” but oppose people who want to bring a building up to the neighborhood’s scale. 33 Bond, practically begging for more height …
Following up on my post yesterday skyscrapers in Europe, I’d like to explain why, in detail, central business districts are generally superior to off-center ones like La Défense outside Paris or Washington’s Virginia suburbs. It’s not that I just enjoy the spatial symmetry and organic shape of a centralized city – it’s actually more efficient! Neglect it, and you’re doing a disservice to your poorest citizens, who too often find themselves out of commuting range of many of a city’s jobs. …
I often hear from people who are defending Washington, D.C.’s height limit argue that the restriction gives the city a “European” feel. I disagree with this for a number of reasons – the city has much fewer historic downtown buildings, and the ones it does have are much younger than in the Old World….
Ken Burns’ new documentary Prohibition is excellent and highly recommended on its own merits, but urbanists should take special note of its urban themes. Cities have always been caricatured as centers of licentiousness, and the booming cities of turn-of-the-century America, teeming with poor Catholic immigrants, must have been terrifying to the established white Americans of the Midwest and America’s small towns. New York and Chicago proved to be impossible to temper, and it was there that Prohibition was the most violent. …
The transit blogosphere has been falling over itself with excitement since yesterday about Bloomberg’s proposal to extend the No. 7 train into New Jersey, and I have to agree that it sounds like a very good plan. It would be much cheaper than the recently-axed ARC project and wouldn’t involve a mile-deep, dead-end station. But best of all, it would reward areas like the far West Side, Queens, and North Jersey cities which have opened themselves up to development and allow the density necessary for mass transit to at least pretend to be self-sustainable – something that the commuter rail-centric New Jersey suburbs have been loathe to do. Despite the project’s reduced cost ($5.3 billion), it will apparently not be eligible for the $3 billion in federal funds that Chris Christie forfeited when he canceled the ARC project, so funding is the main stumbling block at this point. The Times also cites “the lengthy environmental review required of such projects” as an obstacle. My suggestion is that West Side developers or tenants, along with those in the benefiting parts of Queens and New Jersey, should pay for at least some of the cost. Mass transit, especially in metro New York, has huge positive externalities for real estate, and West Side developers are already salivating at the prospect. Back around the turn of the last century, when transit lines in America were still built and operated by private companies, developers themselves would internalize these externalities by directly controlling the real estate around their stations. While this model still works in East Asia, it would be hard to imagine such flexibility in New York any time soon, but a well-designed tax increment financing system could come close. Under such a plan, a tax would only be levied on the areas that will […]
by Stephen Smith The Wall Street Journal ran an article a few days ago claiming that the MTA’s recent NYC transit cuts have lowered real estate prices along train and bus lines that have been axed. While it’s not a quantitative study, the anecdotes are compelling: “The buyer who buys in Astoria is looking for a cheaper price and to get into Manhattan quickly,” said Ms. Palmos, adding that she is having the same problem with a condominium building in Upper Ditmars, north of Astoria. Apartments there that she said would have easily sold for $500,000 with the express bus nearby are now languishing on the market at prices about $420,000. ” ‘How far is it to the train?’ That’s the first thing people ask me,” said Charles Sciberras of Realty Executives Today, a longtime Astoria broker. “The closer to the train the higher the demand… Two to three blocks away from transportation is very easy for me to rent.” […] “The best areas in Brooklyn have great transportation into the city—the most expensive neighborhood in Brooklyn is Brooklyn Heights—you can get just about anywhere in the city easily. You go out into where there is less transportation, the prices go down,” Mr. Giordano said. “It’s one of the many emotional decisions that people make that can add or detract value from real estate.” What’s most striking to me is that a simple express bus route can raise prices by $80,000 for a single apartment. Multiply this by the thousands of apartments along the bus route and it appears that the lost value from the cut bus route ought to exceed, by orders of magnitude, the cost of maintaining the route. But of course, since the MTA doesn’t see a penny of the value it creates, it isn’t surprising that […]
I need help with this one. Is this a phenomenon of statistical cherry-picking or a true trend that should worry us? New York Observer – A Yoke for the White Collar New York’s college grads now hustle for jobs paying 1970s wages. Meet their coping mechanism—massive debt! A younger New Yorker could be forgiven for running up debt: Real wages for 20-something professionals in New York haven’t changed since the early 1970s. At the same time, the number of college grads competing for white-collar jobs has increased—as has the cost of everything from real estate to beer to MetroCards. image from article: Nigel Holmes: Source: Gotham Gazette, June 19, 2007 In 1970, 19.5 percent of New Yorkers in their 20s had college degrees, according to the analysis. By 2005, that percentage had more than doubled. By 2006, roughly one in three New Yorkers 25 and older had at least a college degree, according to N.Y.U.’s Furman Center for Real Estate and Urban Policy. For younger college grads, the job market has become ever more competitive and the monetary rewards stagnant. And yet they come. Something doesn’t seem right and I can’t put my finger on it. The statistics seem a little cherry-picked, but I have suspicion that some important demographic trend is being neglected. Sure, I can see where wages are stagnant, but as more college educated young people have moved to New York? Have shifts in immigration trends caused this? Or perhaps loss of manufacturing jobs that paid relatively well for young native New Yorkers? I think it’s safe to say that many more college students have flocked to New York in the past decade, and many college students are taking longer to graduate. Could part of it be that more 20-somethings in New York are spending more time […]