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December 27, 2011
Year In Review: Top Real Estate Stories of 2011
The biggest real estate stories of the year include the commercial development of Brooklyn Bridge Park and the reverberating effects of Atlantic Yards
Carroll Gardens Patch
by Peter Saalfield
This week Carroll Gardens Patch is looking back at some of the biggest stories of 2011.
We continue today with real estate. In 2011, gentrification marched onward as home prices rose, developers unveiled new building plans, and several stores and restaurants were forced out of business by rising rents.
As the neighborhood searches for the right balance between the old and the new, construction continues to cause contention. For every person who supports development, there is another who opposes it. In 2011, disagreements arose over a few issues in particular.
...Spillover from Atlantic Yards
The massive Atlantic Yards construction project, supported by politicians such as Mayor Bloomberg and Brooklyn Borough President Marty Markowitz, has been ruffling feathers for years—and it isn’t even finished. Critics have accused the developer, Bruce Ratner, of lying about the number of jobs that would be created and exaggerating other positive effects for the surrounding neighborhoods.
A particular concern of the people of Boerum Hill and Cobble Hill is traffic and parking. With the main feature of the project—a new stadium for the Brooklyn Nets basketball team—still a year away from completion, traffic has already been disrupted and is poised to get worse.
Posted by eric at December 27, 2011 10:59 AM