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Gentrification Watch

Gentrification Watch

The Remaking of Astor Place Is Now Underway

Renderings of the new Astor Place

Construction crews have begun to remake the once-scruffy Astor Place in the East Village about five years after plans were introduced.

Once a broken punk boulevard, until recently a fake I.D. production center and, now, the home of Edward Minskoff‘s (widely derided) 51 Astor Place office building, Curbed noted this week that signs went up in the area alerting passersby to the imminent overhaul. Read More

Gentrification Watch

L.E.S. Report: Application for 2,300 S.F. of Commercial Space on Orchard St., Intermix To Hit Bowery

194 Orchard Street (Credit: Bowery Boogie)

The times continue to change on the once-scruffy Lower East Side.

Last month, the Leather Gallery of New York, a vestige of Orchard Street’s historic discount shopping district, moved down the block from 194 Orchard Street. Now, filings with the Department of Buildings indicate that a new 9,225-square-foot, six-story mixed-use building might rise in its place, Bowery Boogie reported. Read More

Gentrification Watch

7-Eleven Expansion Riles East Village Neighbors

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When The Commercial Observer spoke with Ken Barnes last month at the International Council of Shopping Centers, the senior director of northeast regional development at 7-Eleven laid out bold plans for the convenience chain’s continued expansion throughout Manhattan.

“We can’t open more New York locations fast enough,” Mr. Barnes said. “Every neighborhood is a target.” As the company hopes to add 100 more Manhattan locations to its 32 current outposts across the borough, one neighborhood isn’t taking the bullseye on its back lightly.

Alphabet City is fighting for its right to shop at independently-owned 24-hour destinations for late night beer and hygienic product runs. Read More

Gentrification Watch

Is Affordable Housing Gentrifying Brooklyn?

Is the city’s public-private affordable housing model—the Community Preservation Corp., a group of 70 banks and insurance companies, in particular—expediting Brooklyn’s gentrification?

The Gotham Gazette seems to think so. The Gazette investigated the city’s publicly available property transaction records and found that since 2007, 65 percent of the $701 million invested in Brooklyn Read More