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October 11, 2006

21 years of Prospect Heights (blight?), via NYT Real Estate section

Atlantic Yards Report

PH-NYT.jpgThe Empire State Development Corporation says that the area south of Atlantic Ave is "blighted" and "it is highly unlikely that the blighted conditions currently present will be removed without public action."

Norman Oder collected two decades of observations from The New York Times Real Estate column, "If You're Thinking of Living In." The story that unfolds tells another tale.

link

1985 

By the reckoning of a resident jogger, Prospect Heights is just a mile into Brooklyn from the Manhattan Bridge. Yet only recently has it become a popular refuge from the high cost of living in Manhattan.

Prospect Heights has grown even more attractive as prices continue to rise in neighboring Park Slope, which began its brownstone boom late in the 1960's.

1990 

It is graced with richly crafted turn-of-the-century brownstones and elegant 1920's apartment buildings. Its population is a rich mixture of all races and income groups. And it is now recovering from the turbulent 70's, when many buildings were either abandoned by landlords or burned out. This is leading to tension between developers and community groups.

1999 

Two decades after an economic downturn left Prospect Heights spotted with shuttered and abandoned buildings, the neighborhood is undergoing a revival. Newcomers are renovating long-neglected brownstones and Vanderbilt Avenue, a main commercial streets, new tenants trickle in as existing merchants spruce up their facades.

2006 

But in the last few years, Prospect Heights has begun to hold its own, enticing newcomers with attractive lofts, newly constructed luxury condominiums and brownstones that are often larger and more elegant than those in the rest of Brooklyn.

Posted by lumi at October 11, 2006 9:07 AM