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February 15, 2010

Gentrification, "Brooklyn's Roommate Belt," and how housing code changes could produce more affordable housing

Atlantic Yards Report

Norman Oder looks at some less-apparent factors shaping New York City's housing market.

You can't just blame developers, or Wall Streeters with cash to burn. One important driver of gentrification may be the housing code, which makes it hard for developers to build low-cost studio apartments, instead aiming at larger apartments and luxury studios.

Former Citizens Housing and Planning Council (CHPC) fellow Denali Dasgupta, now a Policy Analyst in the New York City Comptroller's Office, at the Dreamland Pavilion Conference last October contended that the cause may be less market forces than market failure.

And a revision in regulations might produce a lot more affordable housing, I'd suggest, leaving less opportunity for projects like Atlantic Yards, however questionable, to be seen as saviors.

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Posted by eric at February 15, 2010 10:25 AM